Elon Musk seeks to end $258 billion Dogecoin lawsuit
NEW YORK (Reuters) – Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. Elon Musk seeks to end $258 billion Dogecoin lawsuit
In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc called the lawsuit by Dogecoin investors a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets” about Dogecoin.
The lawyers said the investors never explained how Musk intended to defraud anyone or what risks he concealed, and that his statements such as “Dogecoin Rulz” and “no highs, no lows, only Doge” were too vague to support a fraud claim.
“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” Musk’s lawyers said. “This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.”
In a footnote, the lawyers also rejected the investors’ claim that Dogecoin qualified as a security.
What is Dogecoin?
As you all know Dogecoin is an open-source, peer-to-peer digital currency. It has gained the admiration of Shiba Inus worldwide.
Now if we talk about Block chain technology underpins this secure. Decentralized system which records data as a public ledger. And it kept safe by a network of computers known as nodes. Also to know that The Dogecoin Manifesto encapsulates the philosophy of Dogecoin and celebrates its passionate and welcoming community. Lets come and Join the movement and learn more.
Do Only Good Everyday.
The Dogecoin community cares about supporting each other, being kind. Also teaching people about cryptocurrency, fundraising, having fun, making memes, and being absurd. This is nicely captured by Dogecoin’s unofficial tagline: Do Only Good Everyday. Get involved in our awesome community via the below links: https://dogecoin.com/https://dogecoin.com/
