Since the beginning of the massive crash that affects all cryptocurrencies, the owners of Dogecoin have lost the equivalent of $86 billion. An investor then decided to file a complaint against Elon Musk and his companies Tesla and SpaceX, accusing him of promoting the dog currency to artificially increase its value.
The crypto brothers panic, their opponents feast. In the span of a few weeks, several billion dollars have evaporated in nature after the major cryptocurrency crash. No motto is spared, from the most popular to the most intimate. For example, Dogecoin, which has received a lot of attention in recent years, is also showing heavy losses. $86 billion more precisely, according to a complaint filed Thursday, June 16, in Manhattan court.
In a desperate rush to get his savings back, an investor attacks Elon Musk directly. According to him, the billionaire would be responsible for the loss of several billion dollars after spending months price the merits of Dogecoin on Twitter. It’s hard to prove him wrong on this point: in 2021, the businessman hasn’t stopped tweeting about cryptocurrency, systematically pushing the price up with every statement.
Elon Musk is accused of artificially inflating the price of Dogecoin
The plaintiff is not mistaken in this regard. To support his theory, he included many of Elon Musk’s tweets in his file, including one in which he calls himself Dogefather.
“The defense falsely and misleadingly claims that Dogecoin is a legitimate investment if it has no value,” he argues, an opinion shared by the creator of Dogecoin himself, who believes that all cryptocurrencies are (or almost) scams.
The investor who is at the root of the complaint also does not do his best to claim compensation. Indeed, based on his calculation of $86 billion in losses, he is asking the same amount of compensation from Elon Musk, as well as from his companies Tesla and SpaceX, for a whopping total of $258 billion, or about 245 billion euros.
Brian is the news author at Research Snipers which mainly covers Technology News, Microsoft News, Google News, Facebook, Apple, Huawei, Xiaomi, and other tech news.