The Dogecoin (DOGE) ecosystem's main noncustodial wallet, Dogechain, is shutdown. It's surprising how many people in the Doge army are unaware of the situation that has forced an X user and supporter of Dogecoin to come forward.
The whistleblower, identified as Astro on X, wrote: #Dogechain has been operational for the past +10 years. Suddenly closing down in less than 30 days. Nobody is brave enough to publicly state the reason, and most people still don't know the answer.
In the larger world of digital currencies, the Dogechain wallet has a long history, but recent legislative changes in the US have made many inventors reconsider their positions. Not all wallets have announced a shutdown earlier than Dogechain.
Wasabi, a former Bitcoin private wallet, also announced earlier this week that it is closing. The decisions seem to be the result of concerns raised by the Samourai Founders' arrest and money laundering allegations. US regulators continue to have little patience with firms that prioritize privacy, from Tornado Cash to Samourai.
The departure of Dogechain suggests that the number of native wallets dedicated to DOGE has decreased, which is now frustrating the Dogecoin community.
The influence of Dogecoin is growing
Dogecoin's influence is growing despite the commercial and legal landscape as it stands. Billy Markus, the founder of Dogecoin, is still regarded as one of the leading industry analysts with opinions on the newest trend.
May 2024, Cryptoniteuae