Court Filing Reveals Elon Musk’s Refutation of False Premise in Dogecoin Lawsuit
In a recent court filing, Tesla CEO Elon Musk confirmed that the Dogecoin lawsuit is based on a false premise. Musk has been involved in the crypto sector as a supporter of Dogecoin, along with investments in Bitcoin and Ethereum. However, in June 2022, Keith Johnson accused Musk and Tesla of manipulating the price of Dogecoin. Tesla’s legal team clarified in the filing that the alleged Dogecoin wallet or crypto addresses do not belong to Musk. This news caused the price of Dogecoin to drop by over 7% in just a few hours.
In addition to his involvement in the cryptocurrency world, Musk has also been focused on the field of artificial intelligence (AI). He recently established a new company dedicated to AI technology innovation. Musk has been vocal about the potential risks of unregulated AI development and believes that the sector should be properly regulated. He sees AI as a significant danger to the future of humanity.
The current trade price of Dogecoin sits at $0.69, which is down 0.5% over the past 24 hours. Despite this setback, Musk’s support and involvement in the crypto sector have played a role in the significant increase in Dogecoin’s value in recent years.
This new information from the court filing provides some clarity and defense against the accusations made in the Dogecoin lawsuit. Musk and Tesla maintain that the plaintiff’s claims are based on false premises, and this news has had an immediate impact on the trading price of Dogecoin. As Musk continues to innovate in the field of AI and advocate for proper regulation, his influence in both the technology and crypto sectors remains significant.
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