Dogecoin Founder Calls Every Token On the Binance Smart Chain As “Garbage”

Dogecoin Founder Calls Every Token On the Binance Smart Chain As “Garbage”

Billy Markus, the co-founder of meme cryptocurrency Dogecoin, has expanded his criticism of many digital currency projects, the latest of which being Binance Smart Chain.

Markus referred to all BSC tokens as “garbage” on his Twitter account on June 2, while criticizing BSC Gem, claiming it does not exist. He implied that BSC doesn’t fit the decentralized status requirement, claiming that such a network shouldn’t exist.

The computer analyst also saw that accounts promoting BSC Gem are either scam bots or operated by people he described as ‘a scumbag or an idiot’. Previously, the co-founder has chastised crypto investors for not having enough expertise of the industry before investing in various ventures.

According to Markus, 70% of crypto investors have “absolutely no clue” and don’t understand market fundamentals. He predicted that by the end of May, at least 99 percent of all current cryptocurrencies will have lost all of their value.

“I mean there’s like 500 shit tokens made daily so 99.9% will definitely crash to 0 but the major ones usually only go down 90% or so,” said Markus.

Markus’ opposition to the crypto space is noteworthy in light of the recent meltdown of the Terra ecosystem, in which investors lost a large portion of their investments. Billy Markus was irritated by Terra creator Do Kwon’s request that he quit the crypto sector permanently.

Markus feels that Kwon’s latest efforts to resurrect the network through the LUNA 2.0 initiative are a ruse to defraud more people. He had previously stated that he no longer invests in the crypto industry, despite being the creator of one of the most successful crypto assets in the past year.

Markus added that after a thorough examination of the market, he determined that the majority of investors lack fundamental information and only gamble with their investments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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