‘Is Crypto Only Good For Gambling?’ Asks CNBC Host

CNBC, the business and financial market news outlet, compared cryptocurrency to gambling. In an interview with economist Sebastian Mallaby, host Deirdre Bosa likened crypto to gambling.

Conversing with economist Sebastian Mallaby, Bosa, the host of CNBC’s TechCheck, asks what the use cases of crypto are. “People like to point to the first wave of the Internet. But in that era, there were easy-to-understand use cases. What is the use case for crypto?”

Mallaby responds by saying that even if there were no use cases and it was purely gambling using internal tokens, gambling was still good business.

Yesterday, Bosa posted a part of the show on Twitter with the caption: “So… crypto’s best use case is… gambling?”. She states that she isn’t trying to dunk on anyone, but actually wants the technology of crypto to work. However, Bosa believes that there are important questions to ask crypto leaders.

Bosa is also open with her criticism of the crypto community. Earlier this month, during her show, she asked Paolo Ardoino, CTO of Bitfinex, some tough questions regarding Tether but also appreciated him for appearing on the show. Yesterday, she even took a dig at Elon Musk for his casual approach toward the legal implications of his backing out of the Twitter bid.

CNBC has always been open about its views about crypto. Recently, Jim Cramer, who hosts CNBC’s Mad Money, stated that Bitcoin was likely to drop further in the short term rather than bounce. The TV personality known for his controversial views also added that those in the industry should be ready to accept that BTC was edging toward a significant fall.