Roubini's USAFi Token Launches with $17 Million ETF Backing

Nouriel Roubini, also known as Dr. Doom for his accurate predictions of the 2008 financial crisis, has turned his attention to blockchain technology with the launch of USAFi, an ERC-20 token backed by a $17 million exchange-traded fund he oversees.

The Atlas America Fund, which trades on Nasdaq and holds U.S. Treasury bills, gold, and real estate investment trusts, will be the underlying asset for USAFi tokens.

Roubini's USAFi is not a stablecoin but rather floats with the net asset value of the ETF basket, according to the project's FAQ page.