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‘Crypto is corrupt & manipulated’ claims co-creator of DOGE, Jackson Palmer

Cryptopolitan


TL;DR Breakdown

  • A lot of people have criticized the crypto industry for its ease in manipulation.
  • Jackson Palmer, who co-created Dogecoin, exposed the true nature in his recent statement.
  • Talking about his journey in the industry, Palmer isn’t interested in returning to crypto.

Dogecoin had become people’s favorite back in the start of 2021 when Elon Musk pushed the coin to the moon and investors went crazy. Investors made huge sums of money from cryptocurrencies this year, while people like Jackson Palmer, the co-creator of Dogecoin, consider crypto to be a ‘corrupt and manipulated industry’.

Jackson Palmer created Dogecoin together with Marcus, and the two have opposing views on cryptocurrencies. Palmer has isolated himself from the ‘corrupt and manipulated industry’ and claims that he has no interest or motive in making a return as an investor or a developer.

Crypto views of Jackson Palmer contradictory

Jackson Palmer, who has strictly opposite views than his partner Marcus, has always enjoyed a low profile, making no public appearance promoting Dogecoin as it was turning the tables for the entire industry.

On the other hand, Marcus has actively participated in the growth of the crypto industry, furthering the presence of Doge on social media along with the release of Dogecoin Non Fungible Tokens that made good sales.

Palmer’s take on the ‘corrupt and manipulated industry’

This week, Jackson Palmer took to Twitter to reveal what he thought about the crypto industry. According to the co-founder, the Bitcoin industry is surrounded by sharks and whales who are constantly trying to grab the market by the throat and control it. He calls the industry “inherently right-wing, hyper capitalistic technology.”

According to Palmer, the term decentralization no more exists in the industry, and the investors who set out to destroy the dominance of the traditional financial system, ended up forming a cult and controlling the price flow of the industry, making it more or less “centralized.”

Palmer also notes that the entire industry is manipulated by the businessmen who also use the corrupt media to further their goals by releasing news as and when it suits their needs. This is the major reason why Palmer claims crypto to be a ‘corrupt and manipulated industry.’