{"id":132454,"date":"2021-07-16T11:07:14","date_gmt":"2021-07-16T11:07:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132454"},"modified":"2021-07-16T11:07:14","modified_gmt":"2021-07-16T11:07:14","slug":"coinbase-ceo-tells-dogecoin-creator-bitcoin-made-many-people-wealthy","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/coinbase-ceo-tells-dogecoin-creator-bitcoin-made-many-people-wealthy\/","title":{"rendered":"Coinbase CEO Tells Dogecoin Creator Bitcoin Made \u201cMany People Wealthy\u201d"},"content":{"rendered":"<h3>Key Takeaways<\/h3>\n<ul>\n<li>Dogecoin co-founder Jackson Palmer called cryptocurrencies \u201cinherently right-wing\u201d in a lengthy tirade this week. <\/li>\n<li>Coinbase CEO Brian Armstrong responded, highlighting how crypto has created wealth and equality of opportunity. <\/li>\n<li>The comments from Palmer and Armstrong form part of a larger debate on the ideology of cryptocurrencies.<\/li>\n<\/ul>\n<p><span>Coinbase CEO Brian Armstrong has responded to Dogecoin creator Jackson Palmer&rsquo;s recent slam on the cryptocurrency space.<\/span><\/p>\n<h2><b>Coinbase CEO Defends Crypto<\/b><\/h2>\n<p><span>Questions over the ideology of cryptocurrencies have sparked debate on Twitter.<\/span><\/p>\n<p><span>In a Wednesday tweet storm, Dogecoin co-founder Jackson Palmer sparked controversy when he called cryptocurrencies &ldquo;inherently right-wing&rdquo; and alleged the industry is controlled by a &ldquo;powerful cartel of wealthy figures.&rdquo;<\/span><\/p>\n<p><span>In response, Coinbase CEO Brain Armstrong argued in favor of cryptocurrencies, saying that Bitcoin has made &ldquo;many people wealthy&rdquo; and that the industry creates wealth mobility and &ldquo;more equality of opportunity for everyone.&rdquo;&nbsp;<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/07\/08082309\/SIMETRI-banner-square-070821.png\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/03\/02090756\/photo_2021-03-22-16.47.16.jpeg\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/03\/02090756\/17_NFT_Future_Economy_1-2.gif\"><\/p>\n<p><span>Armstrong took a bold stance against engaging in political activism last year in a <\/span><span>blog post<\/span><span> titled &ldquo;Coinbase is a mission focused company.&rdquo; In the post, he stated Coinbase would no longer advocate for political causes or engage with societal issues, as doing so would take the focus away from the company&rsquo;s core mission. Armstrong likely took issue with Palmer&rsquo;s politicization of cryptocurrencies and felt compelled to respond.&nbsp;<\/span><\/p>\n<p><span>Understandably, Palmer doesn&rsquo;t see things the same way as Armstrong. Palmer created Dogecoin in 2013 but hasn&rsquo;t financially benefited from the network&rsquo;s success because he doesn&rsquo;t own any tokens. Speaking to <\/span><span>Decrypt<\/span><span> in 2018, Palmer said:<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/07\/08082309\/SIMETRI-banner-square-070821.png\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/a.impactradius-go.com\/display-ad\/12209-931979\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/03\/02090756\/17_NFT_Future_Economy_1-2.gif\"><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/07\/15030149\/BlockOne-300x250-FINAL.gif\"><\/p>\n<blockquote>\n<p><span>&ldquo;I made a lot of people rich but I didn&rsquo;t come away with any money. I get to tell people that I created Dogecoin, which is fun.&rdquo;<\/span><\/p>\n<\/blockquote>\n<p><span>Dogecoin soared in value to a market cap of over $94 billion in May, helped by ongoing support<\/span><span>&nbsp;from Tesla CEO Elon Musk. It has since shed well over half its prior value, currently sitting at a market cap of $23.4 billion.&nbsp;<\/span><\/p>\n<p><span>The Coinbase CEO was not the only prominent figure to respond to Palmer&rsquo;s tweets. ShapeShift CEO Erik Voorhees also took issue with Palmer&rsquo;s view that crypto is right-wing but agreed that it is hyper-capitalistic.&nbsp;<\/span><\/p>\n<p><i><span>Disclaimer: At the time of writing this feature, the author owned BTC and ETH. <\/span><\/i><\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<p>Source: <a href=\"https:\/\/cryptobriefing.com\/coinbase-ceo-tells-dogecoin-creator-bitcoin-made-many-people-wealthy\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Dogecoin co-founder Jackson Palmer called<\/p>\n","protected":false},"author":3,"featured_media":132453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase CEO Tells Dogecoin Creator Bitcoin Made \u201cMany People Wealthy\u201d - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/coinbase-ceo-tells-dogecoin-creator-bitcoin-made-many-people-wealthy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase CEO Tells Dogecoin Creator Bitcoin Made \u201cMany People Wealthy\u201d - 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