Elon Musk in trouble, Dogecoin investor files 20 lakh crore case

Elon Musk has been sued by a Dogecoin investor for $258 billion (about Rs 20,13,831 crore). Investors are displeased that the CEOs of Tesla and SpaceX are running a special pyramid scheme to support this meme coin. The lawyer for the investor who filed the case has not yet presented any concrete evidence to prove that such a scheme is being run by Musk.

According to the news agency Reuters, in a complaint filed in federal court in Manhattan, complainant Keith Johnson accused Musk and the electric car company he runs, Tesla, and space tourism company SpaceX, with the intention of slashing the price of Dogecoin by first raising its price. accused of running a racket.

Elon Musk in trouble, Dogecoin investor files 20 lakh crore case

It is no secret that Elon Musk has been a special supporter of the DOGE token for a long time. He has described this mime coin as a better payment option than other cryptos, even Bitcoin.

The agency shares the statement is filed in the complaint, which states, (translated) “The defendants knew since 2019 that DodgeCoin had no value, yet he [Elon Musk] used DodgeCoin to profit from his business.” promoted.” “Musk used his position as the world’s richest person to run and manipulate the Dogecoin pyramid scheme for profit, risk, and entertainment,” it added.

The complaint also includes comments from Warren Buffett, Bill Gates, and others who are questioning the value of cryptocurrencies.

At the time of writing the news, lawyers for Tesla, SpaceX, and Musk had not responded to requests made by Essence.

At the same time, a lawyer for Johnson did not immediately respond to Essenzi’s requests about what specific evidence his client had or how it proved that DodgeCoin was worthless and that the defendants ran a pyramid scheme.

Johnson has sought $86 billion (approximately Rs 6,71,265 crore) in damages, representing a drop in Dogecoin’s market price since May 2021, and seeks to triple it.

He wants to stop Musk and his companies from promoting Dogecoin and a judge can declare that Dogecoin trading is gambling under federal and New York law.

He wants to prevent Musk and his companies from promoting DodgeCoin and also have a judge declare that trading DodgeCoin is gambling under federal and New York law.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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