Dogecoin Co-Founder Says 95% of Crypto Projects Are Scams, Elon Musk Reacts
The Dogecoin co-founder sparked a heated debate on Twitter after saying that about 95% of crypto projects are scams.Billy Markus, co-founder of the popular memecoin Dogecoin (DOGE), said the great majority of cryptocurrency projects in the industry are nothing but scams and garbage with no real value to offer.
In a recent tweet, the Dogecoin creator argued that 95% of cryptocurrencies are worthless as they have succeeded in destroying the reputation of the entire industry.According to Markus, top traditional financial players and most mainstream internet users have labeled the entire digital asset landscape as “garbage” and a scam because of the existence of bad players and projects within the space.Markus’ tweet comes in the wake of the catastrophic failure of the Terra ecosystem. The project’s woes started when UST depegged from $1.
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