4 months ago 1 min read

Dogecoin's Founder Takes Command of SBF Recovery Plans Following FTX Crash


In 2013, Billy Markus, a well-known programmer and the inventor of Dogecoin (DOGE), made fun of the former CEO of FTX's recovery strategies. The rehabilitation strategies of the former CEO of FTX were recently condemned by Doge's creator in a tweet. Billy Markus, who tweets as Shibetoshi Nakamoto, reveals his position on the predicament facing the CEO of FTX.

Creator of Doge Reveals His Position on SBF Following the FTX

After his involvement in the FTX crash, Doge founder claimed that the former CEO of FTX should not be given another chance.

Markus recently tweeted the following:

Notably, a number of things have happened after the recent collapse of the cryptocurrency exchange FTX. Although many do not believe it, the collapse of the crypto exchange came as somewhat of a surprise. The creator of Dogecoin (DOGE), the most well-known meme money, Billy Markus, is vehemently opposed to it.

On November 13, 2022, Markus commented on Twitter under the name Satoshi Nakamoto to share his perspective on the FTX disaster. He also reaffirmed the motivation behind the original development of Dogecoin.

Markus May Be Right About the CEO of FTX's Current Situation

From a larger viewpoint, it is clear that the FTX CEO is to blame for the crash. The cryptocurrency exchange reportedly exploited user funds for fundraising, mergers and acquisitions, loans, and other transactions. The business ran into a liquidity problem when clients started to withdraw their money.

Withdrawals from FTX have been stopped, and what happened next has become a pattern that many other failing businesses have followed in the past. On November 11, 2022, FTX filed for Chapter 11 bankruptcy, and CEO Sam Bankman-Fried resigned.

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