Elon Musk has “extended Dogecoin’s life,” a cryptocurrency that could have “long since disappeared.” This was stated during the AMA-session by 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 executive had anticipated Dogecoin’s fade, given its “uselessness”, but the asset attracted Elon Musk’s interest. Zhao said that the Tesla founder supported the interest in the meme token, which might otherwise have withered.
The Binance CEO admitted that he does not understand the appeal of such assets and is not their owner, preferring cryptocurrencies “with utility”. In Dogecoin and similar coins there is a very high risk, but the exchange is prepared to list them if users show clear interest, he added.
Musk actively promoted the meme token. In April 2022, the businessman proposed lowering the price of Twitter Blue and giving users the ability to pay for the premium service in DOGE.
Earlier, Tesla began selling Dogecoin merchandise.
On 3 April 2023, for a couple of days the symbol of the “dogecoin” coin became Twitter’s logo.
In July 2022, American Keith Johnson accused SpaceX and Tesla, and their head, of promoting the “cryptocurrency pyramid” Dogecoin and demanded $258 billion.
In early April 2023, Musk’s lawyers called the DOGE investor’s claims a “fanciful fabrication”. The billionaire asked the court to dismiss the suit.
Recently, the number of transactions on the Dogecoin network has surpassed Bitcoin’s metric.