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DOGE Cofounder Comments on FTX's Plans to Reboot Outside USA

Tue, 08/01/2023 - 15:11
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Yuri Molchan
One of Dogecoin cofounders does not seem to approve plans of FTX debtors to launch outside US
DOGE Cofounder Comments on FTX's Plans to Reboot Outside USA
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Billy Markus, one of the two IT developers who created the original meme coin DOGE, has commented on the news that has emerged recently about plans to reestablish the FTX exchange to run it for all customers other than those based in the USA.

Earlier, it was reported that the administration currently running the bankrupt FTX exchange submitted a plan to relaunch the platform for offshore clients, making it closed to U.S. residents.

According to a report by CoinDesk, the administration of the platform (or what is left of it) has suggested dividing the company's creditors into several tiers and proposed that one of those tiers can restart the exchange raising funds from investors outside of their circle.

The creditors are divided into "dotcom customers" (investors who are claiming refunds from offshore exchange). The second group is called "US customers" — they are customers of the FTX exchange based in the U.S. They are followed by claimants of the NFT exchange, general unsecured claims, etc. The "dotcom" claimants may choose to put their assets together to launch an offshore crypto exchange, which will not service customers within the U.S.

DOGE creator Bill Markus responded to a tweet with this news with a lazy "why though?" as if seeing this as pointless. When FTX exchange collapsed and founder Sam Bankman-Fried began apologizing on various media, admitting his mistakes, Markus poured heavy criticism on him on his Twitter page.

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SBF might be linked to rugpulled BALD token

Data has also emerged that the founder of the FTX exchange who has been charged with defrauding his investors of billions of U.S. dollars, Sam Bankman-Fried, may be linked to the meme coin BALD that was launched just recently on Coinbase's Layer 2 blockchain Base.

Earlier today, BALD dropped 85% as a result of a rugpull, as the founder removed all of its liquidity. Prior to the price collapse, the token reached a market capitalization value of $85 million within merely 48 hours after launch.

As reported by U.Today, several crypto sleuths have found a connection between the BALD deployer contract and Alameda Research, a trading company that used to be owned by Sam Bankman-Fried before FTX collapsed along with Alameda and SBF went to prison.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at