FTX Crash: Dogecoin Creator Takes Jibe Over SBF Recovery Plans

Billy Markus, the well-known programmer and creator of Dogecoin (DOGE) in 2013 as a joke took a jibe over FTX’s former CEO’s recovery plans. The inventor of Doge recently criticized FTX’s former CEO’s recovery plans in a tweet. Billy Markus, who goes by the name Shibetoshi Nakamoto on Twitter unveils his stand on FTX CEO’s current situation.

Doge creator unveils his stance on SBF recovery plan

Doge creator said FTX CEO should not get a second chance after his involvement in the FTX crash. In a recent tweet, Markus wrote “yeah so, I don’t know about you guys, but I don’t think we should give people who commit enormous massive fraud a second chance to commit enormous massive fraud again. The jig is up. Everyone knows what you really are. You lose. Good day sir.”

Notably, after the recent collapse of the crypto exchange FTX, several activities have occurred. The crash of crypto exchange came as something of a surprise, but many do not believe it. Billy Markus, the founder of the most popular meme currency Dogecoin (DOGE), strongly opposes it.

Back on Nov 13, 2022 Markus went on to Twitter and posted through his handle Satoshi Nakamoto noting his take on FTX crash. In addition, he also reiterated the reason for creating Dogecoin in the first place.

Markus could be correct on the current predicament of the FTX CEO

When the FTX crash is viewed from a broader perspective, it is evident that FTX CEO is to blame. According to reports, the crypto exchange used user funds for funding, mergers and acquisitions, loans, and so on. As customers began to withdraw their monies, the company faced a liquidity issue.

FTX has halted withdrawals, and what followed next has become a pattern repeated by many other organizations that have failed in the past. FTX filed for Chapter 11 bankruptcy on November 11, 2022, and CEO Sam Bankman-Fried resigned.

Source