Spacex over Elon Musk, Tesla and Dogecoin promotions expanded with the addition of new defendants and DOGE investors. Plaintiffs allege that the memetic cryptocurrency Dogecoin is a Ponzi scheme, with Musk and his company “falsely and deceptively claiming that Dogecoin is a legitimate investment even though it has no value at all. ” is emphasized.
Lawsuit against Elon Musk over Dogecoin adds new defendants and plaintiffs
Amended complaint in $258 billion lawsuit against Elon Musk, Tesla and Spacex was filed in Manhattan federal court on Tuesday. was.
Musk, Tesla, Spacex, The Boring Company, and other defendants are accused of intentionally boosting the price of Dogecoin (DOGE) by more than 36,000%, with the memetic cryptocurrency crashed.
The complaint alleges that the defendants “made tens of billions of dollars in profits” at the expense of other Dogecoin investors, and that the memetic crypto has no intrinsic value and that its value is “marketable.”
The lawsuit was originally filed in June, accusing Musk and his company of a “crypto pyramid via the cryptocurrency Dogecoin.” involved in a scheme (aka a Ponzi scheme).” “Defendants falsely and deceptively allege that Dogecoin is a legitimate investment even though it has no value at all,” plaintiffs allege.
Following news of the initial lawsuit, Musk has confirmed that he will continue to buy and support Dogecoin. The Tesla CEO, who has been dubbed the Dogefather by proponents of cryptocurrency memes, promotes Dogecoin on Twitter. He said that memetic crypto has potential as a currency, calling it the people’s crypto.
In May, Musk said Spacex could soon accept DOGE merchandise, followed by Starlink subscriptions.Tesla already accepts Memecoin for some merchandise. increase. The Boring Company began accepting his DOGE as payment for rides on the Loop transit system in Las Vegas in July.
After Tesla sold 75% of its bitcoin holdings in July, Musk confirmed that his electric car company hadn’t sold Dogecoin, claimingBTC The sale is the overall liquidity of the company given the Covid shutdown in China.
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