Elon Musk Requests Dismissal of $258 Billion Dogecoin Lawsuit, Affirms Tweeting Endorsement for DOGE is Legal, According to Featured Bitcoin News
Elon Musk is requesting that a US court dismiss a 258 billion dollar lawsuit initiated by dogecoin investors alleging that he operated a pyramid scheme to promote the cryptocurrency. The dogecoin investors alleged that Musk intentionally drove up the value of the meme cryptocurrency before allowing it to crash in order to profit by billions of dollars. Musk’s legal team described the lawsuit as a “fantasy,” and they argued that supporting a legitimate cryptocurrency with tweets was not unlawful. Despite the lawsuit, Musk is expected to continue to buy and support DOGE, with Tesla accepting the cryptocurrency for some merchandise. Earlier this year, he also stated that he would eat a McDonald’s Happy Meal on TV if the fast food chain accepted payments in dogecoin.