March 14, 2023 12:47 AM | 1 min read
Dogecoin (CRYPTO: DOGE) co-founder Billy Markus — popularly known as Shibetoshi Nakamoto — has fiercely criticized modern financial markets, dubbing them as “insane stupidity.”
What Happened: In a tweet on Monday, Markus said, “Please always remember that every single thing about modern financial markets is batsh*t insane stupidity.”
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At a time of uncertainty in the banking sector, investors have seen two major US banks — Silicon Valley Bank, a subsidiary of the SVB Financial Group (NASDAQ:SIVB), and Signature Bank (NASDAQ:SBNY) — collapse. In an effort to protect depositors and avert a systemic meltdown, U.S. regulators stepped in to rescue the two banks.
Twitter chief Elon Musk chimed into the conversation and said, “Not far wrong,” affirming that he agrees with Markus.
please always remember that every single thing about modern financial markets is batshit insane stupidity
— Shibetoshi Nakamoto (@BillyM2k) March 14, 2023
Price Action: DOGE was trading at $0.072, up 3.35% in the last 24 hours, according to Benzinga Pro data.
Read More: Bitcoin, Ethereum, Dogecoin Surge Amid Financial Stability Woes, Analyst Sees Apex Crypto Breaching $25K As FOMO Grips Investors
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