In an interview yesterday, Dogecoin co-creator Jackson Palmer had some harsh words regarding the state of affairs within the crypto industry. Speaking with Crikey, an Australian e-magazine, Palmer said that he wishes “it was the end of crypto” and that “people are doing nothing but making money off doing nothing.” His comments were part of an interview meant to promote his new podcast Griftonomics.
The first episode of the Griftonomics podcast was meant to go live last year, but fearing a massive backlash, Palmer released his thoughts on crypto through a Twitter thread instead. One of the tweets in the thread referred to the crypto industry as a “get rich quick funnel designed to extract new money from the financially desperate and naive.”
Nothing has changed since then. Palmer still believes that the digital asset industry is like a Ponzi scheme designed to profit from uninformed investors continuously pumping funds into assets they do not fully understand.
“I still see heaps of money being funneled in by crypto promoters. They’re waiting for a fresh batch of fools to come in. This happens in cycles,” said Palmer. “After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity,” he added.
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However, according to Palmer, the…
