Elon Musk “prolonged the life” of the cryptocurrency Dogecoin, which could have “disappeared a long time ago”. Binance CEO Changpeng Zhao said this during the AMA session.
The top manager expected Dogecoin to “fade,” given its “uselessness,” but Elon Musk became interested in the asset. According to Zhao, the Tesla founder supported interest in the meme token, which might otherwise have waned.
The CEO of Binance admitted that he does not understand the appeal 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 add them to listings if users show clear interest in them, he added.
Musk has been actively promoting the meme token. In April 2022, the businessman offered to lower the subscription price of Twitter Blue and allow users to pay for the premium service in DOGE.
Earlier Tesla started selling merch for Dogecoin.
On April 3, 2023, for a couple of days, the symbol of the “dog coin” became the logo of Twitter.
Recall that in July 2022, American Keith Johnson accused SpaceX and Tesla, as well as their head of promoting a “cryptocurrency pyramid” Dogecoin and demanded to pay him $258 billion.
In early April 2023, Musk’s lawyers called the claims from the DOGE investor a “bizarre fabrication.” The billionaire asked the court to dismiss the suit.
The other day, the number of transactions on the Dogecoin network surpassed that of bitcoin.