Elon Musk has cleared rumours around his affiliation with the Dogecoin Foundation. In a tweet, Musk said neither he, nor his associate Jared Birchall, are on the advisory board of the Dogecoin Foundation. The Dogecoin Foundation aims to grow and promote the meme-based crypto coin via patents, advocacy, and trademark protection. As of now, the foundation has not reacted to Musk's statements disassociating himself and his associate from the organisation.
Musk's denial to any links with the foundation came as he was replying to a tweet that said, “Jared Birchall represents Elon Musk, but as all advisors he has no direct voting rights. This guarantees the foundation stays independent while taking advantage of the expertise of shibes like Elon”.
Neither Jared, nor me, nor anyone I know has anything to do with this foundation— Elon Musk (@elonmusk) October 24, 2021
Since Musk has remained an avid supporter of the Dogecoin as well as cryptocurrencies in general, his reported association with the Dogecoin Foundation did not raise any questions, until the Tesla CEO denied his links to the organisation.
In August, the Doge-supporting body threatened copycat Dogecoin 2.0 (DOGE2) with legal action in a bid to safeguard the original Dogecoin's market reputation and position.
The core developers and supporters of the dog meme-based crypto-coin including Gary Lachance, Jens Wiechers, Timothy Stebbing, Michi Lumin, and Ross Nicoll have also been listed as the foundation board members. Billy Markus, who founded the Dogecoin is also reportedly part of the organisation.
As per the Gadgets 360 crypto-price tracker, the meme-coin is currently trading at $0.28 (roughly Rs. 21).
Earlier in October, US-based movie theatre chain AMC Theatres officially began accepting payments in Dogecoin.
At the time, Musk had also said that the Dogecoin handling fees should be reduced in order to make everyday purchases “viable” to the average consumer.
Super important for Doge fees to drop to make things like buying movie tix viable— Elon Musk (@elonmusk) September 22, 2021