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Dogecoin founder slams every token on the Binance Smart Chain as “garbage”

Dogecoin founder slams every token on the Binance Smart Chain as “garbage”
Justinas
Baltrusaitis
4 weeks ago
2 mins read

The co-founder of meme cryptocurrency Dogecoin (DOGE), Billy Markus, has extended his criticism of several digital currency projects, with Binance Smart Chain (BSC) being his latest target. 

Through his Twitter account on June 2, Markus termed all BSC tokens as ‘garbage’ while taking an issue with BSC Gem, noting that it does not exist. He insinuated that BSC fails to meet the decentralized status while asserting that such a network should not exist. 

The computer scientist also observed that accounts hyping BSC Gem are either scam bots run by individuals he termed as ‘a scumbag or an idiot’.

Previously, the co-founder has hit out at crypto investors for lacking sufficient knowledge about the sector before putting money into different projects. 

Crypto investors lack education 

As reported by Finbold, Markus claimed that 70% of crypto investors have “absolutely no clue” and have no understanding of market fundamentals. 

Towards the end of May, he had projected that at least 99% of existing cryptocurrencies would likely crash in value back to zero. 

“I mean there’s like 500 shit tokens made daily so 99.9% will definitely crash to 0 but the major ones usually only go down 90% or so,” said Markus. 

DOGE co-founder hits out at Do Kwon

Notably, Markus objection to the crypto space follows the recent crash of Terra ecosystem, where investors lost a significant share of their investments. The DOGE co-founder took issue with Terra founder Do Kwon asking him to leave the crypto industry for good. 

Markus believes recent efforts by Kwon’s to revive the network through the LUNA 2.0 project is a plot to con more victims.

Besides being behind one of the most successful crypto assets over the past year, Markus had earlier claimed that he no longer invests in the sector.

As a reason behind his abandoning the crypto space, Markus stated that after a keen review of the market, he discovered most investors lack the basic knowledge and just gamble with their investments.

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Justinas Baltrusaitis
Author

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.

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