Elon Musk, SpaceX and Tesla are facing $258 billion lawsuit for promoting Dogecoin “pyramid scheme”
Elon Musk confronting Huge litigation It claims that he and his companies Tesla and SpaceX were “engaged in the rat lecture through the Dogecoin cryptocurrency.”
The proceedings seek a $ 258 billion settlement on alleged involvement of Mask in plaintiffs “scammed from money” by Dogecoin (Doge) Cryptocurrency.
The class proceedings are Keith Johnson, an “American citizen fooled by money by the defendant’s Dogecoin crypto pyramid scheme,” which Elon Musk and his company claim to be part of a racket operation aimed at raising. The price of Dogecoin raised by artificially.
Keith Johnson is seeking $ 86 billion in damages in addition to three times the $ 172 billion in damages on behalf of a group of investors allegedly lost money after trading Dogecoin in 2019. In addition, Johnson is seeking an order to suspend Musk and his affiliated companies from a dog-themed cryptocurrency promotion. He also demands that Elon Musk and his company declare that Dogecoin transactions are considered gambling under US and New York law.
According to a proceeding filed Thursday, Musk and his company “misleadingly claim that Dogecoin is a legitimate investment, even though it has no value at all.” This is probably a reference to many of SpaceX’s founders’ tweets in favor of meme-based cryptocurrencies.
For example, the price of Dogecoin 8% increase In March of this year, after giving hints to survive the difficult economic situation, he included advice that he would hold Bitcoin ().BTC), Ethereum (ETH), And Doge.
The proceedings further alleged that Musk and his companies (Tesla and SpaceX) “started buying, developing, promoting, supporting and operating Dogecoin in 2019,” resulting in plaintiffs and classes “about this. Lost $ 86 Billion “Crypto Pyramid Scheme.
Elon Musk has not yet commented on the proceedings, but has a history of promoting Dogecoin through his company and social media. Earlier this year, Elon Musk’s electronic car company Tesla Accept dogecoin payments For purchase. April 2021, Dogecoin is 10% pumping After Elon Musk tweeted about using SpaceX to literally put Dogecoin on the moon.
