The founder of Dog Coin said that the bank incident in Silicon Valley was “extremely stupid”, and Musk agreed
On March 14, Billy Marcus, the co-founder of Dog Coin, slammed the modern financial market, saying that everything happened in the market was “crazy and stupid”, apparently referring to the recent collapse of banks such as Silicon Valley Bank. Marcus wrote in a tweet on Monday: “Please always remember that everything in the modern financial market is crazy and stupid.” At this uncertain moment, investors have seen the collapse of SVB Financial Group, the parent company of Silicon Valley Bank, and Signature Bank, the largest cryptocurrency bank in the United States. In order to protect depositors and avoid systemic collapse, the US regulators rescued the two banks. Elon Musk, CEO of Tesla and Twitter, responded: “That’s almost the case”, agreeing with Marcus. (Golden Ten)
Interpretation of this information:
The co-founder of Dog Coin, Billy Marcus, expressed his disapproval of the modern financial market, labeling it as “crazy and stupid”. This may be in response to recent news of the collapse of banks such as Silicon Valley Bank, which has led to US regulators stepping in to protect depositors and prevent systemic collapse. Marcus’s sentiment was echoed by Elon Musk on Twitter, who agreed that the current state of the market is troubling.
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