Elon Musk the Manipulator
A cryptocurrency investor has sued Elon Musk for $258 billion for allegedly growing the cryptocurrency pyramid scheme.
Tesla, Elon Musk’s company and SpaceX, a space tourism company, manipulated the Dogecoin market to drive up its price and let it fall afterwards.
Elon Musk, CEO of Tesla and SpaceX, has been sued
“The complaint alleges that Musk used [his] pedestal as World’s Richest man to operate and manipulate Dogecoin for profit, exposure and amusement.”
Warren Buffett and Bill Gates have made comments about the lack of value for cryptocurrency.
Unfortunatly, there was no response by Tesla, SpaceX and the lawyer for Elon Musk to these requests.
Elon Musk speaks at the groundbreaking ceremony for Tesla’s Shanghai Gigafactory.
Lawyers for Johnson, have not yet responded to the reporter’s inquiries about the specific evidence that they possess that proves that Dogecoin is worthless and more importantly, they ran a pyramid scheme.
Johnson is seeking to be compensated for the $86 billion dollar loss in market value of the Dogecoin since May 2021. They have also requested that this amount be tripled.
Ken Kaufman, an attorney in New York, filed a cease and desist letter to stop Elon Musk from marketing Dogecoin. The plaintiff also wants the court to declare that trading Dogecoin is gambling under federal and New York law.
On the show “Saturday Night Live” Elon Musk played a financial expert and said Dogecoin is a scam. This event triggered a selloff by Dogecoin supporters.
Tesla in February 2020 had bought $1.5 billion of bitcoin and was openly accepting it as payment for vehicles.
The prices of Dogecoin have been on a downward trend from its peak of 74 cents. Currently, it trades at about 5.8 cents.
In the Johnson v. Musk et al case, the court rendered a decision that Elon Musk violated Paragraph 10 of the US Securities Exchange Act of 1934 by making false and misleading statements about taking Tesla Private.
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