First Reaction to Market Drop from Elon Musk and Dogecoin (DOGE) Founder!

Cryptocurrency While there has been a great decrease in the market due to the events between Binance and FTX, Elon Musk and Dogecoin (DOGE) The first reaction came from founder Billy Markus.

First Reaction From Elon Musk and Dogecoin Founder About Recent Developments

Elon Musk, who is closely interested in the crypto money market, wrote “Yes” in response after David Sacks shared the book “Only The Paranoid Survive” and said that “this is easy information to forget in a bull market”.

Thus, Musk revealed that he thinks that even in a rising crypto money market, measures should be taken against the fall.

yes

— Elon Musk (@elonmusk) November 8, 2022

After that, Dogecoin founder Billy Markus, who is known to be close with Elon Musk, also joined the discussion and replied to the same Tweet:

“I don’t know why pictures of monkeys that sell for millions of dollars haven’t given everyone a clue that this isn’t sustainable.”

Billy Markus is known to make critical statements about the crypto industry from time to time. However, Markus added the following regarding the recent decline:

“Can giant crypto companies really have sustainable business plans and stop causing major crises all the time?

Like taking your share of the trades on your platform and making smart investments and not doing stupid things all the time.

Almost every major crash in the 13-year history of cryptocurrencies was caused by the bankruptcy of one of the giant cryptocurrency exchanges at that time.

I believe in cryptocurrencies, they are literally just a protocol and a shared database

I just don’t believe in people and markets are based on people.”

On the other hand, Elon Musk responded with a laugh when Dogecoin CEO shared that “I hope Mtgox buys Binance so we can get into a full cycle”.

😂

— Elon Musk (@elonmusk) November 8, 2022

*Not investment advice.