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Billy Markus, known on social media as Shibetoshi Nakamoto, created the iconic meme-themed cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013 as a parody of Bitcoin. Since then, both have withdrawn from the project, leaving it in the hands of the Dogecoin Foundation.
Dogecoin creator reacts to Bitcoin and crypto crash
Over time, Markus has become a cryptocurrency influencer with a massive audience of over two million people on X, and he often posts memes or shares his views on major events in politics and society. finance, but also in the field of cryptocurrencies.
As altcoins began to fall after the two largest cryptocurrencies Bitcoin and Ethereum, the co-founder of Dogecoin tweeted: “Crypto man really sucks. » Markus is known for his skepticism towards cryptocurrency trading, often comparing it to gambling.
Markus' tweet came out just as the price of Bitcoin collapsed overnight, caused by several major developments in the crypto space.
Crypto Market Crashes Following Bitcoin's 10% Crash
Over the past 24 hours, the world's leading cryptocurrency, Bitcoin, has lost almost 10.3%, falling from the $64,600 zone to the $57,650 zone, where it is changing hands at the time of the writing this article.
After Bitcoin, the second largest cryptocurrency by market capitalization, Ethereum, plunged more than 11%. It is trading at $2,874 after losing the $3,243 level on Tuesday.
Dogecoin fell almost 15% from $0.1458 to the $0.1242 level, where it currently stands.
One of the main reasons for this fall would be the founder of Binance. CZ sentenced to four months in prison for violating the Bank Secrecy Act (BSA) and for money laundering on Binance. Additionally, the jobs report turned out to be worse than expected and Bitcoin-Ethereum ETFs in Hong Kong failed to meet traders' expectations as the former was expected to outperform spot Bitcoin ETFs in the United States as early as their first day of trading.
In reality, Hong Kong ETFs managed to score $12.4 million in transactions and $141 million in entries into Bitcoin and partly into Ethereum. When US cash ETFs launched, their numbers far surpassed them, with $740 million in assets and $4.6 billion in trading volume.