Dogecoin is a cryptocurrency created in 2013 as a bifurcation of the Litecoin blockchain. Its task is to conduct peer—to-peer transactions without centralized management. Earnings on the coin were not expected. The developers thought it would be a humorous parody to encourage content creators.

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Former President Donald Trump has threatened to sue JPMorgan Chase over allegations of "debanking" in 2021, according to CNBC. "Debanking" refers to the withdrawal of banking services for political reasons. Since President Biden took office, approximately 10 financial institutions have closed accounts associated with Trump and his family. Experts indicate that this may have prompted Trump to explore cryptocurrencies, with his family reportedly engaging in crypto projects.