The dog is now the face of the Dogecoin cryptocurrency which has its price rise due to this icon change. Elon Musk and his companies, Tesla and SpaceX, are now facing a USD 258 billion lawsuit for being involved in a Crypto Pyramid Scheme by way of the Dogecoin cryptocurrency. Johnson argues that Musk and his companies "falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all.". He further argued that they have deceived him and others into "believing that Dogecoin is a valuable asset worth purchasing, holding, and trading.". It is no secret that Musk has been vocal about his support for Dogecoin. With tweets of him saying that "Dogecoin is the people's crypto" or that "Doge will live forever". Not to mention with Tesla and SpaceX accepting Dogecoin for its merch and with Musk appearing on Saturday Night Live on which he referenced himself as being the "Doge Father". are engaged in a Crypto Pyramid Scheme (aka Ponzi Scheme) by way of Dogecoin cryptocurrency. – Keith Johnson in the complaint In total, the lawsuit has Johnson demand USD 86 billion in compensatory damages and USD 172 billion in treble damages. Johnson is also seeking court orders to prohibit Musk and his companies from promoting Dogecoin and to have trading Dogecoin declared as a form of gambling. Read more in our articles including "Twitter changes icon to Doge meme" and "Elon Musk sued for USD 258 billion by Dogecoin investor".
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Jan 23, 2014The dog is now the face of the Dogecoin cryptocurrency which has its price rise due to this icon change. Elon Musk and his companies, Tesla and SpaceX, are now facing a USD 258 billion lawsuit for being involved in a Crypto Pyramid Scheme by way of the Dogecoin cryptocurrency.
Johnson argues that Musk and his companies "falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all.". He further argued that they have deceived him and others into "believing that Dogecoin is a valuable asset worth purchasing, holding, and trading.". It is no secret that Musk has been vocal about his support for Dogecoin. With tweets of him saying that "Dogecoin is the people's crypto" or that "Doge will live forever".
Our coverage of Dogecoin includes: "Twitter changes icon to Doge meme"; "Elon Musk sued for USD 258 billion by Dogecoin investor"; "What are NFTs?". Each article provides unique insights and information.