The co-founder of Dogecoin vows: He will never step into the cryptocurrency world again

This article is from Sina Finance.
Dogecoin co-founder Billy Markus announced at the end of last month that he would return to the cryptocurrency space, but another co-founder, Jackson Palmer, made a rare return to social media today to harshly criticize cryptocurrency technology and vowed never to step into the crypto world again.
Palmer stated, "After years of research, I believe that cryptocurrency is essentially a right-wing super-capitalist technology, whose main purpose is to amplify the wealth of its supporters by evading taxes, reducing regulatory oversight, and artificially creating scarcity."
Palmer criticized the powers that be in the cryptocurrency space, saying that cryptocurrency is "controlled by a powerful cartel of wealthy individuals," who have "evolved to include many institutions associated with the existing centralized financial system, which they originally intended to replace."
"The cryptocurrency industry exploits an improper network of business relationships to buy off influential people and paid media channels, perpetuating a cult-like 'get rich quick' scheme aimed at extracting new money from financially desperate and naive individuals."
Palmer also pointed out that one of the many disturbing features of the cryptocurrency community is that "even the mildest criticism of cryptocurrency will provoke defamation from the industry powers that be," not to mention the anger of ordinary investors worried about losing everything.
In response to Palmer's post, Dogecoin's other founder, Billy Markus, stated that Palmer's "point is basically correct."
Billy Markus wrote, "There are a lot of bad people in the crypto space, and I completely understand why he feels disappointed. I understand his perspective, and we have all seen the negatives of it all."