The director of the Dogecoin Foundation, who is also a core developer for the very popular project, recently explained why he needs to reduce his involvement with the highly popular crypto project. 

According to a blog post published on February 16, Ross Nicoll is “going to be stepping away from Dogecoin” mainly for two reasons:

  • “the stress involved is overwhelming” and he needs to focus on himself for a while
  • the employer for his day job reportedly is Alphabet (the parent company of Google) and it “is moving into the blockchain space”

So, this is what Nicoll is going to do over the next several weeks:

“I’m handing over everything I can to the Dogecoin Foundation. I will be remaining as an advisor to the Foundation, to enable transition. As there’s paperwork and process to replace a director, it’s likely it will take 4-8 weeks before I’m off the official company house registration, to pre-empt the inevitable questions there.“

He also talked about the funding he has received from Dogecoin Foundation:

“I am aware there will inevitably be questions about pay received from the Foundation. The initial payments from the tip jar in 2014 and 2016 amounted to around $1,300 together, at the time, and sadly I had spent my way through virtually all of them (covering infrastructure) when the price took off in 2021. Since the 1.14.0-3 tip jar payout in July 2021, I have received no funds from the Dogecoin tip jar (directly or to the best of my knowledge indirectly).

“I’ve averaged about $350/month before costs from streaming and tips to my personal tip jar, but I have not been drawing a salary from the Foundation, depending instead on my day job to pay the bills. To HMRC, if you’re reading this, yes my tax return is going to be a lot more interesting this year.“

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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