Dogecoin Co-Creator Questions Whether Cryptocurrencies Are 'Politically Neutral'

Dogecoin DOGE/USD co-creator Jackson Palmer questioned claims that cryptocurrencies are politically neutral.

What Happened: Palmer shared an excerpt from a Vice interview featuring CoinShares Chief Strategy Officer Meltem Demirors in a tweet on Sunday.

Many people claim that cryptocurrency is politically neutral, despite its core promoters telling a very different story. pic.twitter.com/hZ6jFi6c4d

— Jackson Palmer (@ummjackson) August 14, 2022

The Dogecoin co-creator said, “Many people claim that cryptocurrency is politically neutral, despite its core promoters telling a very different story.”

Demirors said in the excerpt, “I’m going to help put people in office. We need to create a new political party.”

“I don’t think the two-party system in America works and I think we are now at a point in the crypto ecosystem where we have enough resources and we have enough wealth and we have enough people who view the world through the same lens that we can actually start to enact real change.”

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Why It Matters: Palmer, who created Dogecoin along with Billy Markus, said in July that despite claims of decentralization, cryptocurrency is controlled by a clutch of wealthy figures.

Demirors works for CoinShares, a firm that manages $4 billion in assets on behalf of a global client base, according to the latter’s website. 

In her previous role, Demirors helped build Digital Currency Group, a Connecticut-based venture capital firm behind exchange-traded funds such as the Grayscale Bitcoin Cash Trust BCHG. 

In the March interview with Vice Executive Producer Krishna Andavolu, Demirors talked about Bitcoin’s history and its culture.

Demirors reminisced in the interview that “Bitcoin was deeply ideological in nature and very closely aligned with crypto-anarchism.”

She said that the apex coin’s early days weren't about making money or becoming a “millionaire or billionaire” but rather about how to use technology to “subvert the current political, economic and social climate.”

“The great experiment we’re attempting is the separation of money and state,” said Demirors.

Price Action: At press time, DOGE traded 10% higher at $0.08, according to data from Benzinga Pro.

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