Tesla CEO and so-called “Dogefather” Elon Musk has been slammed by crypto pioneer Nick Spanos for his “selfish” crypto shilling.
Speaking to Cointelegraph earlier this week, just days after Musk posted another cryptic tweet which caused the price of CumRocket to briefly spike over 300 percent, Spanos said the Tesla founder has been trying to manipulate the crypto markets to purchase coins at a better price.
“Musk harmed countless people less fortunate than he in his selfish shilling and moves to get cheaper coin,” Spanos, founder of ZAP Protocol – an oracles and smart contracts marketplace – said.
“People believe in Bitcoin because it’s a path to monetary independence from central banks, and he’s attacking their trust with reckless tweets and abuse of influence. Instead of being a role model, he is revealing less favorable primal characteristics.
“Arrogance and greed cannot shield him from consequences. If the SEC isn’t going to sanction him for manipulating markets like they did before, perhaps the activists will.
“It’s not hard to imagine a scenario where people who trust their lives with his technology could see incidents where that trust maybe even catastrophically ends,” he added.
Musk remains active in the crypto markets – and it’s anyone’s guess which crypto he will throw his weight behind next in what many consider to be a series of pump and dump schemes in the crypto space, with the most notable example being Dogecoin (DOGE.)