More recently, Mishaboar, an influential figure in Dogecoin‘s community and development, took to social media to quash rumors about Elon Musk’s large-scale ownership of the cryptocurrency. Contradicting the widespread belief, Mishaboar clarified that there was no substantial evidence to support Musk’s possession of a considerable amount of Dogecoin during past price surges.
During the height of Dogecoin’s fame, Mishaboar brought attention to a significant error spread by influential individuals. He revealed that figures such as Changpeng Zhao (CZ), the ex-CEO of Binance, and certain popular YouTubers, had mistakenly propagated the unfounded claim that one individual owned 30% of Dogecoin’s entire stockpile.
Instead, the developer explained that the identified whale was not an individual investor but rather Robinhood’s cold wallet, housing assets of its users.
Certainly, your assessment is on point. The significance of Robinhood in fueling Dogecoin’s surge during the previous bull market should not be overlooked. However, it’s important to acknowledge that Binance played a pivotal role as well by listing Doge earlier than many other exchanges (I personally found their platform quite appealing for transactions).
— Mishaboar (@mishaboar) April 8, 2024
A supporter of Dogecoin stressed the value of self-driven investigation and warned against relying too heavily on experts or market influencers without questioning their information. Additionally, Mishaboar subtly responded to statements made by Changpeng Zhao, the previous CEO of Binance, concerning Elon Musk’s alleged Dogecoin ownership.
Musk vs. Zhao
Mishaboar proposed a more comprehensive explanation for the tension between Binance and Dogecoin than what CZ had implied. He highlighted problems with Dogecoin withdrawals on Binance and hinted at underlying friction between Elon Musk and CZ.
In response to a question from a follower regarding the relationship between Elon Musk and CZ (Changpeng Zhao), Mishaboar suggested that there may be tension between the two. Musk expressed apprehensions about Dogecoin withdrawals on Binance through cryptic tweets.
Instead of simply trusting stories spread by news organizations and influential people in the DOGE community, Mishaboar encouraged everyone to examine the facts carefully and think about the potential risks involved when using centralized exchanges that hold your cryptocurrency for you.
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2024-04-09 13:25