Billy Markus, one of Dogecoin’s co-founders, collaborated with Jackson Palmer to create the meme-based cryptocurrency in 2013, aiming to satirize Bitcoin. Unlike Palmer, who rarely tweets and is critical of Tesla’s Elon Musk, Markus is an active user on Twitter/X and exchanges messages with Musk on the platform.
Recently, Markus shared an intriguing detail about Sam Bankman-Fried, the founder of the now-bankrupt FTX crypto exchange. Before the exchange’s collapse, Bankman-Fried reportedly intended to purchase Nauru Island, envisioning it as a haven for survival in case of a global catastrophe. This plan, outlined in court filings, aimed to secure the future of FTX and Bankman-Fried’s firm, Alameda Research, and their staff members.
Bankman-Fried’s brother, Gabriel Bankman-Fried, noted the plan involved building a bunker/shelter on Nauru for members of the effective altruism movement in anticipation of potential global disasters. Additionally, the island’s history of past money-laundering activities added intrigue to this choice of location.
However, this survival strategy contrasts with the concept of effective altruism, raising ethical concerns. Bankman-Fried’s actions, including accusations of defrauding FTX customers, cast doubt on his intentions of accumulating wealth to aid the underprivileged.
John Deaton, a vocal Ripple/XRP advocate, criticized Bankman-Fried, suggesting that had he managed to prevent FTX’s bankruptcy by halting financial losses, he might have saved his business and avoided legal consequences.
