Michael Novogratz, the CEO of the crypto financial services firm Galaxy Digital, has dismissed dogecoin (DOGE) as a “joke” – and has hit out at the outspoken Shark Tank and new DeFi star, Dallas Mavericks supremo Mark Cuban for his association with the token.
Yesterday, Cuban announced that he would allow Mavericks fans to pay for their tickets and branded merchandise in the breakaway token “because we can” and “sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR.”
But in an interview with Bloomberg, Novogratz stated that he wanted to “put people in the safest best stuff,” rather than “joke coins” like DOGE. He said of Cuban,
“Gary is going to be great for crypto. Gary is smarter than a whip, he understands blockchain and bitcoin. Now we’ve got an SEC Chairman that’s gonna deal with it head-on. Not every project is going to love what he does. But, broadly, a clear set of rules is nothing but bullish for the space.”
At the time of writing (10:46 UTC), BTC trades at USD 47,156 and is down by 5% in a day and is unchanged in a week. The price rallied by 33% in a month. DOGE, ranked 14th by market capitalization, trades at USD 0.0495 and is down by 2% in a day and more than 1% in a week. It jumped by 56.5% in a month.
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