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Dogecoin DOGE/USD 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 SIVB, and Signature Bank 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.
Price Action: DOGE was trading at $0.072, up 3.35% in the last 24 hours, according to Benzinga Pro data.
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Image and article originally from www.benzinga.com. Read the original article here.