Dogecoin (DOGE) lawsuits: what Elon Musk suggested to the judge!

Elon Muskat the origin of a Ponzi scheme behind Dogecoin ? This is the opinion of some DOGE investors who have attempted a lawsuit against the boss of Tesla. The latter would have asked the judge to dismiss the complaint.

Elon Musk accused of $258 billion racketeering

In 2021, a group of investors filed a lawsuit against the American billionaire on the grounds of manipulation of the DOGE course. Even the FBI is said to have also opened an investigation against him for the same reason.

This racket, which enthusiasts often call ” ponzi scheme would be estimated at 258 billion according to Reuters.

Thus, on March 31, Elon Musk asked the Manhattan federal court to dismiss this complaint accusing him of being the author of a pyramid scheme for his support of Dogecoin. According to his lawyers, this trial is a ” whimsical work of fiction » which is based on « harmless and often silly tweets from their boss.

Moreover, these investors had never been able to explain how Musk was committing said fraud. Tweets like “ Dogecoin Rulz », « no highs, no lows, only DOGE are enough to support such statements?

There is nothing illegal about tweeting words of support or funny pictures about a legit cryptocurrency that continues to have a market capitalization of nearly $10 billion. The court should put an end to the fantasy of the plaintiffs and dismiss the complaint “, Argue the lawyers of Elon Musk.

The Dogefather invited for a “Weekend Update” segment of the show “Saturday Night Live”

$256 billion to compensate Dogecoin

This astronomical figure evoked by Musk’s pursuers would be damages related to three times the decline in the market value of Dogecoin in the 13 months preceding this complaint. Furthermore, the Dogefather is accused of deliberately boosts the price of this memecoin by more than 36,000% in just two years.

This is what allows DOGE investor lawyers to think about a sure win for this case.

We are more than ever convinced that our business will be crowned with success “, they advance.

It should also not be forgotten that Elon Musk, during an appearance on NBC’s “Saturday Night Live”, had already qualified the “scam” Dogecoin. But Twitter’s new pro-crypto CEO isn’t alone. It actually benefits from the help of Dogecoin Foundation whose position on this matter seems very clear. She also wants the complaint withdrawn.

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