Dogecoin

Against the backdrop of the lawsuit, we list all the times Musk promoted the meme-coin and caused a movement in the price of the coin.

Responding to this, Musk said that he has planned a futuristic diner or drive-in theatre at the Supercharging station, “and of course, you can pay in Ðoge.” “The transaction value of Bitcoin is low and the cost per transaction is high. “The total transaction flow that you do with Dogecoin is transactions per day has a much higher potential than Bitcoin.” Keith Johnson accused Musk, the CEO of electric car company Tesla Inc and space tourism company SpaceX of racketeering for touting Dogecoin and driving up its price, only to manipulate the price of the coin. Unlike Bitcoins, whose maximum possible number is fixed at 21 million (a figure that is estimated to be reached by 2040), Dogecoin numbers do not have an upper limit, and there are already more than 100 billion in existence. Elon Musk is an avid supporter of the cryptocurrency Dogecoin. He has promoted the meme-coin multiple times, causing the coin to rise in value.

In a complaint filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc and space tourism company SpaceX of ...

Musk is being dragged to court for allegedly promoting Dogecoin when he knows it is worthless and also turning a blind eye to racism and sexism at Tesla.

Filed by an investor named Solomon Chau, the lawsuit alleges that Musk and the Tesla board failed to tackle workplace harassment and discrimination complaints for years. The second lawsuit was also filed by another investor, but this time of Tesla, the company that Musk owns and officially holds a position at. Still, the regulator has been watching his every move ever since, especially his tweets about Tesla and Dogecoin, a cryptocurrency, Musk loves to promote.

A Dogecoin investor filed a federal lawsuit against Musk and the companies he chairs alleging that the billionaire engaged in a "Dogecoin Pyramid Scheme" ...

According to Ross Nicoll, one of the developers that worked with Musk, the Tesla CEO offered to fund their work and continued to provide advice after they declined his offer. After that initial April 2019 tweet, Musk continued tweeting about Dogecoin, which coincided with spikes in both searches of the meme coin and its increase in value. In 2019, he began advising a team of part-time Dogecoin developers to improve the efficiency of its blockchain. At its peak in May 2021, Dogecoin was worth $0.73 USD. This high mark coincided with Musk’s appearance on Saturday Night Live, and the coin tumbled almost immediately after. He is seeking $86 billion (equitable to the overall loss in value since Dogecoin’s peak in May 2021) and wants the value tripled. As of Thursday, Dogecoin’s current value sits at $0.056 USD.