Tesla CEO Elon Musk has denied that any of his associates was involved with the re-establishment of the Dogecoin Foundation. In a tweet he shared on his Twitter page, the centibillionaire denied any rumor that he nor Jared Birchall, the head of the family office, has any affiliation with the re-established Dogecoin foundation.
Musk’s statement caused a stir online and amongst the Doge community. For a long time, the foundation identified itself with Elon Musk and his associates since its re-establishment. It’s believed that the foundation is the main reason the billionaire constantly advocates for the adoption of DOGE. Judging from Musk’s tweet, it simply implies that the foundation lied about the Tesla CEO and his associate affiliated with the support community.
How Is Musk and Jared Birchall Affiliated with Dogecoin Foundation?
The rumor started when the news about the Dogecoin Foundation’s re-establishment surfaced again. Back in August, the Dogecoin Foundation announced that it has been re-established after originally being created back in 2014 by the Doge founders. The Non-profit organization disclosed that it will be managed by selected members of the Doge community, including Gary Lachance and Ross Nicoll.
The Dogecoin Foundation had members, such as Elon Musk and his long-time associate Jared Birchall, Dogecoin co-founder Billy Markus, and ETH co-founder Vitalik Buterin inducted into the advisory board, with Birchall acting as legal and financial advisor. The aim of the Dogecoin entity is to support the Dogecoin ecosystem and promote Dogecoin-related projects.
The addition of Musk and Birchall didn’t raise any suspicion until now, considering the amount of vocal support Musk is giving to the meme coin. The billionaire recently predicted that he was on his way to becoming the first Dogecoin trillionaire. According to the foundation’s official website, the members of the board remain the same. However, Musk’s clarification is still leaving a lot of users confused.
Musk Laments the Proliferation of Cryptocurrency Scams
Musk also complained about the recent rise of cryptocurrency scams on Twitter. He made this statement as a result of the hack that occurred on his Twitter account in July in a bid to advertise a Bitcoin giveaway scam. The centibillionaire has been speaking against crypto fraudsters who impersonate popular people since 2018 in order to siphon huge amounts of money from victims.
Elon Musk recently spoke about inflation, sharing Twitter CEO’s Jack Dorsey’s opinion about a strong inflammatory pressure. This statement came after Musk’s wealth rose to $289B due to the skyrocketing Tesla’s shares. The inflation debate involved other key players, such as Fed Chair Jerome Powell and Ark Investment CEO Cathie Wood.