Elon Musk “extended the life” of the Dogecoin cryptocurrency, which could have “disappeared a long time ago.” About this during AMAsession, said Binance CEO Changpeng Zhao.
And we’re live!
Tune-in to our AMA with @cz_binance here ⬇️https://t.co/2mHJwtKDog
— Binance (@binance) May 17, 2023
The top manager expected the “fading” of Dogecoin, given its “uselessness”, but Elon Musk became interested in the asset. According to Zhao, the Tesla founder encouraged interest in the meme token, which could otherwise fizzle out.
The CEO of Binance admitted that he does not understand the attractiveness of such assets and does not own them, preferring cryptocurrencies “with utility”. There is “very high risk” in Dogecoin and similar coins, but the exchange is willing to list them if users show a clear interest in them, he added.
Musk actively promoted the meme token. In April 2022, the businessman proposed lowering the cost of a Twitter Blue subscription and allowing users to pay for the premium service in DOGE.
Previously, Tesla began selling merch for Dogecoin.
On April 3, 2023, the dog coin symbol became the Twitter logo for a couple of days.
Recall that in July 2022, American Keith Johnson accused SpaceX and Tesla, as well as their head, of promoting the “cryptocurrency pyramid” Dogecoin and demanded to pay him $258 billion.
In early April 2023, Musk’s lawyers called the claims from a DOGE investor “a bizarre fabrication.” The billionaire asked the court to dismiss the lawsuit.
Recently, the number of transactions in the Dogecoin network has surpassed that of Bitcoin.
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