Dogecoin founder quits cryptocurrency industry

In major news, Jackson Palmer, Dogecoin founder and Adobe senior manager, has announced that he is taking an "extended leave of absence" from the digital currency space, citing "toxic" ecosystem.

He criticized certain aspects of the sector, while at the same time encouraged users of dogecoin not to lose sight of its fun and playful roots.

Palmer indicated that the cryptocurrency ecosystem is in the midst of a period of stagnation due to the principles of the individuals it is attracting, along with the poor quality of start-ups being established by new participants in the space.

"All in all, the cryptocurrency space increasingly feels like a bunch of white libertarian bros sitting around hoping to get rich and coming up with half-baked, buzzword-filled business ideas which often fail in an effort to try and do so", Palmer told CoinDesk.