Elon Muskthe richest man in the world and self-proclaimed governor general, has announced his strong support for the leading cryptocurrency doecoin. Recently, he and his company faced a class action lawsuit for leading a fraud scheme. Ponzi Linked to doecoin.
Musk will continue to support doecoin.
The Tesla CEO seems determined to support DOGE, based on his recent tweet. Also, he was recently involved in a class action lawsuit for manipulating the price of coins. same and ran a Ponzi scheme. A Twitter user asked Musk if you keep buying doecointo which he replied: ” I am it. This Sunday he tweeted that he would continue to support DOGE.
I will continue to support Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
Musk is known to promote doecoinand the lawsuit cites some of his most popular Doge tweets. This after a satirical article aroused his interest in the work. same in 2019. The plaintiffs seek a ban on Musk and your company to promote doecoin. However the father dog self-proclaimed saidhe would support the work memes in any case.
To find out: The Fed has mentioned stablecoin risks to financial stability and calls for regulators to intervene.
DespiteElon Musk won’t be fully active in the cryptocurrency space until 2021, his first tweet on doecoin dates back to April 2019, when he shared a same dog with the caption ” doecoin rülz“. In 2021, the CEO of Tesla is became one of the biggest influencers in the space crypto. Since then, when the billionaire speaks, crypto investors listen and prices rise and fall based on the uptrend of his tweets.
Elon Musk became a staunch supporter of doecoin after complaining The impact of Bitcoin on the environment. He started tweeting about it. memecurrencyand the price tends to react accordingly. Last month, the billionaire announced that users could use DOGE to buy products You’re thereand SpaceX will soon follow. Minutes after the announcement, doecoin jumped 15%.
Focus on the lawsuit filed against Musk
US investor DOGE Keith Johnson sued legal action against Musk and his companies Tesla and SpaceX. Johnson accuses them of defrauding and setting up a pyramid scheme to manipulate the price of doecoin.
The complaint alleges that the constant tweets and responses of Musk describe him as a huge fan of cryptocurrencies. This will cause the price of the coin to skyrocket and investors will lose all of their funds when market conditions change.
The Claimant stated: “The defendants knew since 2019 that doecoin I did not have value but promoted doecoin to profit from your business.Musk used his pedestal as the richest man in the world to exploit and manipulate the pyramid scheme doecoin for profit, exhibition and fun.
For more information about the trial version, click here.
