Crypto critics switching sides? “Doomsday Doctor” Roubini launches a tokenized fund “USAFi,” praising blockchain as extremely valuable

According to Bloomberg News, renowned macroeconomist Nouriel Roubini, known as the "Dr. Doom," has undergone a major attitude shift. This long-time critic of cryptocurrencies announced that he will move his managed physical asset fund onto the blockchain, launching a tokenized fund called "USAFi." The project is supported by BlackRock-backed tokenization technology provider Securitize and is regulated by Dubai’s Virtual Asset Regulatory Authority (VARA).
(Background: Dr. Doom Roubini: Trump is very likely to "escalate the Iran war"! Inflation backlash may force the Fed and ECB to raise interest rates)
(Additional context: Dr. Doom is no longer bearish this time: the market is overly pessimistic, and the U.S. economy will not hard land in the short term)

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• Backed by real assets, USAFi targets overseas investors
• Dr. Doom’s stance shift: criticizes Bitcoin but optimistic about blockchain
• Publishes technical dollar paper, RWA market size surges past $32 billion

Famous macroeconomist Nouriel Roubini, who gained fame for accurately predicting the 2008 global financial crisis and was dubbed "Dr. Doom" by the public, has been one of the harshest critics of Bitcoin and cryptocurrencies for many years. However, faced with an irreversible wave of technology, this Wall Street veteran has now chosen to embrace blockchain technology.

According to the latest report from Bloomberg News on June 23, 2026, Roubini is preparing to fully tokenize his traditional financial products and launch a digital token called "USAFi," officially entering the real-world asset (RWA) tokenization arena.

Backed by real assets, USAFi targets overseas investors

The report states that the USAFi token launched by Roubini is fully backed by the Atlas America Fund (Atlas), which he manages. This is an ETF with a scale of about $17 million, listed on Nasdaq under the ticker USAF, with a broad portfolio including U.S. Treasuries, gold, and real estate investment trusts (REITs), serving as hedging and inflation-resistant assets.

It is understood that USAFi will primarily be issued to overseas investors outside the U.S. and will be launched under the strict supervision of Dubai’s Virtual Asset Regulatory Authority (VARA). The technical aspect is handled by Securitize, a tokenization technology leader supported by asset management giant BlackRock. The token is expected to be listed and traded on a digital asset exchange regulated by VARA. Deepa Raja Carbon, CEO of VARA, highly praised this initiative, believing that this technology can expand access to asset classes that were previously limited to a select few, reaching a broader global investor base.

Dr. Doom’s stance shift: criticizes Bitcoin but optimistic about blockchain

Looking back at Roubini’s past remarks, he has repeatedly launched fierce attacks on cryptocurrencies in public, calling Bitcoin a self-fulfilling bubble and asserting that it is neither an effective payment system nor a reliable store of value.

Interestingly, although Roubini still maintains a negative view of the crypto market, he now has a completely different assessment of the underlying blockchain technology. He told the media that cryptocurrencies are not good money and emphasized that the market urgently needs "better reserve and store of value assets." He believes that while most cryptocurrencies are riddled with speculative risks, blockchain technology shows increasing practical value in traditional financial asset applications.

Publishes technical dollar paper, RWA market size surges past $32 billion

On the same day the news broke, Roubini and the Atlas Capital team jointly published an academic paper introducing the concept of "Technodollars" for the first time. They argue that blockchain investment products backed by traditional physical assets can not only achieve some of the decentralized, high-efficiency functions sought by crypto supporters but also rely on assets with established value to significantly reduce volatility risks.

In fact, Roubini’s entry coincides with a historic explosion in the RWA tokenization market. According to data from rwa.xyz, the global market value of tokenized assets has skyrocketed from about $6 billion at the beginning of 2025 to now over $32 billion. As top institutions like JPMorgan Chase and BlackRock actively promote traditional financial products onto the chain, Roubini’s USAFi undoubtedly adds fuel to this Wall Street tokenization revolution.