In a recent interview with Fox Business reporter Eleanor Terrett, Marshall Hayner, CEO of Metallicus and Board Member of the Dogecoin Foundation, refuted the notion that Dogecoin could be classified as a security.

According to Hayner, a security is typically a financial asset with expectations of future gain and a centralized entity behind it. He pointed out that neither of these characteristics apply to Dogecoin, which was initially perceived as a joke and never had a centralized entity controlling it.

Hayner explained that Dogecoin's founders, Jackson Palmer and Billy Markus, did not use the project to accumulate significant wealth, unlike some other cryptocurrency founders.