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SEC Would Have Lost Against DOGE 10 Years Ago, Founder Explains Why

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Tue, 8/08/2023 - 9:51
SEC Would Have Lost Against DOGE 10 Years Ago, Founder Explains Why
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Billy Markus, who created the famous meme coin DOGE in 2013 together with Jackson Palmer and is known on Twitter as Shibetoshi Nakamoto has shared a few thoughts about his earnings on Twitter (X) and DOGE.

Besides, he also stated that should the SEC have filed a lawsuit against him and Dogecoin in the past, the regulator would have lost it.

Twitter posting brings more money than making popular crypto

Markus stated that the X app, formerly known as Twitter, has allowed him to make more money so far than he did from "creating a 10 billion dollar cryptocurrency," meaning DOGE.

Dogecoin remained a joke cryptocurrency until a few years ago, when it caught the attention of Tesla CEO Elon Musk, who loves memes and grew to like DOGE quickly. He mentioned DOGE in his frequent posts, and five or even two years ago, those mentions made the Dogecoin price skyrocket.

Musk also mentioned other assets, such as "gamestonk," referring to GameStop, which also made the price of these stocks rise. Musk's impact on assets' prices was called "The Elon Musk Effect."

In 2021, Musk posted a joking tweet calling himself "The DogeFather." This and Musk's debut on the Saturday Night Live show that followed, where he talked about DOGE among other subjects, made the meme coin soar to an all-time high of $0.7376 (May 8, 2021).

Right now, Dogecoin is changing hands at $0.07348, which is 90.04% below the historic price peak of DOGE.

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"SEC wouldn't have been successful against DOGE"

A commentator suggested that if Billy Markus created a new cryptocurrency now, he would likely get in hot water with the SEC as the regulator has recently been claiming multiple altcoins to be unregistered securities.

Markus responded that if the regulator had sued him and Jackson Palmer for making Dogecoin when it was only just launched on the market in 2013, the SEC would not have been successful. The reason for that, Markus believes, is "people actually cared about ethics back then."

It seems that Billy Markus would not have created any new crypto anyway. Over recent years, he has been asked many times whether he still works on Dogecoin and whether he would like to make a new crypto.

He said "no" to both, stating that he likes his current job and not only would he not make a new crypto, but he also would not want to work for Elon Musk on Twitter, even though they are "pen pals"; they often correspond on Twitter but have never met in person.

Markus believes crypto trading and crypto investing to be nothing but gambling, according to multiple previous tweets.

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