The Dogecoin team is weighing up legal action against a popular Youtuber and known Dogecoin influencer, Matt Wallace, over his plan to create another coin using the Dogecoin trademark.
In a series of tweets, Wallace had disclosed his desire to push for more adoption of the Dogecoin as a means of payments globally by enlightening business owners about the numerous opportunities it holds.
But rather than sourcing for funds in DOGE, the influencer revealed that he and his team would be generating funds to push the project forward by launching a new token tagged “Accept Dogecoin.”
Matt, literally, you are breaking the law. The Dogecoin Foundation is looking into taking legal action against you. You're NOT helping dogecoin. Knock it off with this "positivity" thing. There is nothing positive about being a criminal, the thing you are doing.— Shibetoshi Nakamoto (@BillyM2k) March 23, 2022
Dogecoin Founders Unhappy about the Development
In response to this development, the DOGE team, through its pseudonymous founder Shibetoshi Nakamoto expressed the team’s displeasure with Wallace’s idea by urging him not to go ahead with the planned projects.
They went further to threaten the popular influencer of legal actions for infringement on trademark rights if he proceeds with the proposed fundraiser coin launch, insisting that such action could lure investors away from the Dogecoin project into the proposed coin.
“Matt, literally, you are literally breaking the law. The Dogecoin Foundation is looking into taking legal action against you. You’re NOT helping Dogecoin. Knock it off with this “positivity” thing. There is nothing positive about being a criminal, the thing you are doing,” Dogecoin founder tweeted.
The Shady Past of the Team Behind the “Accept Dogecoin” Project
Deep research into the team behind the proposed project by Matt revealed their connections to different criminal activities in the past.
The purported crypto project team leader, Myles Watkins, is a felon once charged with kidnapping. In addition, another top member of the team has a history of being involved in various pump and dump crypto projects, including baby Lambo Inu and Tiger King.
Dogecoin founder stated:
“You can also NOT release the trademark violation token with your actual criminal partner, that would be a start to being “positive.” Dogecoin people wouldn’t care if you stopped shilling dogecoin while doing your own shady crap. Stop talking about dogecoin. Go away.”
Dogecoin Community Frown at Wallace’s Idea
Revelations about the shady past of the team have caused the Dogecoin community to question the integrity of Wallace’s initiative, which is set to be released on the 29th of March, 2022.
And this has attracted huge criticism from the community, as many believe that the project is for his gain and not for the benefit of Dogecoin as he claims.
“Matt serious question: If you’re looking to build a team to educate retailers on accepting Doge, why create a new token? Why not raise capital in Doge, pay people in Doge & teach retailers about Doge. Besides, the community would be willing to do this without pay. Makes no sense,” @TDogeWhisperer tweeted.