Why Dogecoin Co-Creator Is Accusing Mark Cuban Of Scamming Investors
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Dogecoin creator Jackson Palmer has once again taken to the internet to spew disdain for the cryptocurrency industry. This time, he’s going up against Dallas Mavericks owner Mark Cuban.
In an interview with Business Insider, an Adobe expert noted that the billionaire Cuban entrepreneur and other prominent investors have “drank the Kool-Aid” when it comes to cryptocurrencies and NFTs.
Palmer told the news outlet that he believes Cuban has been duped into believing in NFTs and cryptocurrencies, noting that Cuban is not paid as a celebrity to promote digital currencies.
Dogecoin co-creator Jackson Palmer. Image: Business Insider
Has Cuba been brainwashed by crypto?
“The Cuban is kind of indoctrinated to believe that these things are the future,” Palmer said.
Palmer is the co-creator of the Dogecoin meme coin. He and Billy Marcus developed the coin as a parody of a hypothetical cryptocurrency perspective.
Elon Musk, CEO of Tesla and SpaceX, continues to support Dogecoin, which is one of the top 15 cryptocurrencies by market capitalization.
Palmer leveled similar criticism at Musk in May, claiming that he was a “snitch” trying to sabotage Twitter. He also claimed that Musk lacks the ability to perform simple coding.
While Marcus maintains a sarcastic attitude towards the cryptocurrency industry, Palmer has been openly hostile for years.
Dogecoin’s creator makes harsh claims
Palmer went on to claim that Cubans and venture capitalists such as Andreessen Horowitz’s Marc Andreessen and Chris Dixon are running a kind of “scam” by funding the cryptocurrency industry.
Grift is the illegal acquisition of money or property.
“It’s more sad to me because they see it as an ongoing way to make a profit … they want to control or own or a large share of this kind of digging, shady cryptocurrency system,” Palmer said.
Cuban and Andreessen are major shareholders of Andreessen Horowitz, one of the most involved venture capital firms in the crypto industry.
The Cuban doesn’t seem bothered
Jack Dorsey, co-founder and former CEO of Twitter and current CEO of Block, has made similar claims about Andreesen’s involvement in the scam.
Dixon and Andreesen did not respond to Business Insider’s request for comment.
For his part, Cuban countered by saying that Palmer’s statements do not come as a surprise. He said:
“Sounds like what’s been said about every new technology I’ve been involved with.”
At the time of writing, Dogecoin (DOGE) is trading at $0.063969, up 3.8% over the past seven days, data from Coingecko shows.
DOGE total market cap at $8.4 billion on the daily chart | Source: TradingView.com Featured image from Yahoo Sport UK, chart from TradingView.com