Economist Nouriel Roubini is ratcheting up his fiery commentary on the stricken cryptocurrency industry, particularly toward FTX and its now-disgraced founder, Sam Bankman-Fried, commonly known as SBF.

“FTX and SBF are not an exception — they’re a rule,” the NYU professor, who is known as “Dr. Doom” for his dire perspectives on global trends, said on Yahoo Finance Live at the World Economic Forum in Davos, Switzerland, on Wednesday (video above). “Literally 99% of crypto is a scam. A criminal activity. A total real-bubble Ponzi scheme that is going bust.”

Roubini has been a vocal critic of cryptocurrencies, calling most in the industry con men, which got the economist into a war of words with Binance CEO Changpeng Zhao several months ago.

FTX filed for bankruptcy late in 2022, while its founder SBF faces charges of wire fraud, securities fraud, and conspiracy, all of which he has pleaded not guilty to.