“Enough,” says Elon Musk’s lawyer as Dogecoin lawsuit escalates
Lawsuit also claims market manipulation and insider trading
The lawsuit, initially filed in June of the previous year, initially sought a staggering $258 billion in damages. It accuses Elon Musk of orchestrating market manipulation, insider trading, and deliberate courses of action linked to the cryptocurrency Dogecoin.
Musk’s affinity for Dogecoin dates back to an April 2019 tweet in which he claimed Dogecoin as his favorite cryptocurrency. With the acquisition of Twitter, his vocal support for Dogecoin has been further amplified.
A notable instance of his endorsement happened around April Fools’ Day, when Twitter temporarily swapped its logo for Dogecoin’s Shiba Inu mascot.
The dismissal motion reflects a point of contention, where Musk’s legal team decries the tactics of the opposing side as “abusive and belligerent,” revealing the intensity of the battle. As the legal proceedings continue, both sides await the unfolding outcome.
At the time of writing, Dogecoin was trading at $0.07573, up 2.32% in the last 24 hours.
