Elon Musk's support for Dogecoin grows stronger following $258B lawsuit
Musk was seemingly unshaken about the allegation as he doubled down on his love for the Dogecoin ecosystem with a tweet saying, "I will keep supporting Dogecoin." Not even a $258 billion class-action lawsuit alleging a crypto pyramid scheme could stop Elon Musk from publicly displaying his continued support for Dogecoin (DOGE).On June 16, a New York district court received a class action complaint against the world’s richest man Elon Musk and his companies, SpaceX and Tesla, for an alleged Ponzi scheme using DOGE tokens. The lawsuit demanded $258 billion in total monetary damages from Musk....
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Elon Musk has been a fierce Dogecoin (DOGE) proponent for several years. The Tesla and SpaceX CEO has publicly stated his support for the cryptocurrency allegedly because of its features and capacity to be “fun”. Related Reading | Bear Market What? Bank of America Study Shows Interest In Crypto Remains Strong This has led Dogecoin (DOGE) […]
The $258 billion lawsuit filed against Elon Musk, Tesla, and Spacex over their dogecoin promotion has expanded with new defendants and DOGE investors added. The plaintiffs allege that the meme cryptocurrency dogecoin is a Ponzi scheme, emphasizing that Musk and his companies “falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.”
New Defendants and Plaintiffs Added to Lawsuit Against Elon Musk Over Dogecoin
An amended complaint to the $258 billion lawsuit against Elon Musk, Tesla, and Spacex was filed Tuesday in....
Spacex and Tesla CEO Elon Musk has once again tweeted in support of dogecoin. He wants the crypto exchange Coinbase to list the cryptocurrency and says he will get a Shiba Inu, the dog breed featured as the face of dogecoin. Meanwhile, the coin’s adoption is growing, advocated by celebrities like Mark Cuban. Elon Musk Wants Coinbase to List Dogecoin Elon Musk wants cryptocurrency exchange Coinbase to add dogecoin to its list of supported cryptocurrencies. A question was directed at Musk on Friday on Twitter about Coinbase listing dogecoin. The user wrote: “Hi Elon, I saw a....
The class-action lawsuit has raised many eyebrows in the crypto community, with many confident the suit will not be successful. Billionaire Elon Musk, along with his companies SpaceX and Tesla Inc, are all being sued for an astonishing $258 billion in damages for being “engaged in a crypto pyramid scheme” involving Dogecoin (DOGE).The damages sought are more than 34 times Dogecoin’s current market cap of $7.5 billion and nearly three times its ATH market cap of $88.68 billion in mid-2021. Filed in the New York District Court by an attorney at Evan Spencer Law on Thursday, the class-action....
Billionaire Elon Musk has always been very vocal about his support for meme coin Dogecoin, and his frequent postings about the cryptocurrency had sent it flying high in the first half of 2021. However, the hype around the cryptocurrency soon died down, taking the price down with it. As expected, some investors were caught in […]