Dogecoin (DOGE/USD) – Dogecoin Co-Creator Says Mark Cuban ‘Drunk The Kool-Aid’ With Crypto And NFTs

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Doge­coin DOGE/USD co-cre­ator Jack­son Palmer said that bil­lion­aire investor Mark Cuban and some high-pro­file ven­ture cap­i­tal­ists have “drunk the Kool-Aid” with respect to cryp­tocur­ren­cies and NFTs.

What Hap­pened: In a recent inter­view with Busi­ness Insid­er, Palmer said that unlike celebri­ties that get paid to pro­mote cer­tain cryp­to projects, Cuban seems to actu­al­ly buy into the idea of crypto.

“Mark Cuban isn’t get­ting paid as a celebri­ty to pro­mote this stuff. He actu­al­ly has kind of been indoc­tri­nat­ed into believ­ing that these things are the future,” said Palmer. 

The Doge­coin co-founder went on to say that by fund­ing the cryp­to space, Cuban and VCs like Andreessen Horowitz’s Marc Andreessen and Chris Dixon are actu­al­ly run­ning a type of grift.

“That is more of a grift to me in that they active­ly see it as an ongo­ing way to extract prof­it — it’s not like they’ve been paid once off to pro­mote some­thing — it’s that they want to be the ones that are in con­trol or have own­er­ship or a large stake in this kind of extrac­tive, grifty sys­tem of cryp­tocur­ren­cy,” he said.

Also Read: Bit­coin, Ethereum, Doge­coin Surge High­er Into The Week­end: What’s Happening?

Cuban report­ed­ly shrugged off Palmers state­ments when Busi­ness Insid­er asked for his take on them.

“Sounds like the same thing that has been said about every new tech­nol­o­gy I’ve been involved in,” Cuban said to Busi­ness Insid­er in a state­ment. In anoth­er state­ment to Decrypt, the Shark Tank investor said, “some peo­ple get caught up in the spec­u­la­tion side [of cryp­to]. I don’t.”

Speak­ing at the 2022 Code con­fer­ence ear­li­er this week, Cuban, who declared him­self an Ethereum ETH/USD maxi, said he believes that cryp­to is “kind of bor­ing” now because it lacks new­er appli­ca­tions to take it forward.

Price Action: At press time, DOGE was trad­ing at $0.064 and ETH was trad­ing at $1,719, up 3% and 5% respec­tive­ly in the 24-hours.

Pho­to: Cour­tesy of Gage Skid­more on flickr

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