A $258 billion ‘Dogecoin’ lawsuit has been filed against Elon Musk. A $258 billion lawsuit awaits Tesla and SpaceX founder Elon Musk for allegedly speculating and creating a “pyramid scheme” to support the cryptocurrency Dogecoin.
Tesla, SpaceX, digital currencies, Twitter… The world has been constantly talking about Elon Musk in recent months.
Finally, the businessman, who is on the agenda with his desire to buy Twitter, is in trouble this time because of a lawsuit.
The Tesla CEO is accused in the lawsuit of manipulating the cryptocurrency Dogecoin for ‘profit, exposure and entertainment’.
Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a ‘pyramid scheme’ to support the cryptocurrency.
In a complaint filed with federal court in Manhattan, plaintiff Keith Johnson, Musk, electric car company Tesla Inc. and the space tourism company SpaceX accused of levying tribute for launching Dogecoin and raising its price, and Musk said only then did he let the price drop.
“The defendants were aware that since 2019, Dogecoin has no value yet promoted Dogecoin to profit from its trading,” the complaint said.
The full sentence, which is the basis of the case, was formed as follows:
“Musk used his pedestal as the World’s Richest Man to operate and manipulate the Dogecoin Pyramid Plan for profit, exposure and entertainment.”
The complaint also aggregates comments from Warren Buffett, Bill Gates, and others questioning the value of the cryptocurrency.
A lawyer contacted by Tesla, SpaceX, and Musk for comment has not yet responded to requests for comment.
One of the attorneys for the person named Johnson who filed the lawsuit left unanswered questions about whether his client had specific evidence to prove that Dogecoin was worthless and that the defendants were operating a pyramid scheme.
Johnson seeks compensation worth three times the $86 billion drop in Dogecoin’s market value since May 2021.
He also wants to prevent Musk and his companies from promoting Dogecoin and have a judge declare Dogecoin trading is gambling under federal and New York law.
The complaint says Dogecoin’s sales began when Musk hosted the NBC show “Saturday Night Live” and Dogecoin played a fictitious financial expert in an episode of a Weekend Update called the “rush.”
Tesla said it bought $1.5 billion worth of Bitcoin in February 2021 and briefly accepted it as payment for vehicles.
Dogecoin was trading at around 5.8 cents on Thursday, up from its peak of around 74 cents in May 2021.
Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.
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