A new investigation has been launched against Elon Musk, who is known for his interest in the cryptocurrency Dogecoin. It was alleged that Musk, who was accused of manipulating the crypto money world through Dogecoin, was fraudulent with the “ponzi scheme” method. If the case is approved, Musk could face a $258 billion fine.
Is Elon Musk cheating on Dogecoin?
SpaceX and Twitter CEO Elon Musk is facing the anger of crypto investors. Accused of manipulating the price of Dogecoin, Musk was sued for alleged blackmail. The court filing says that Musk increased the price of Dogecoin by 36,000 percent in two years, which then led to its collapse with a “ponzi scheme.”
Elon Musk’s lawyers opposed these claims. In a statement to the judges, they said that this allegation was nothing more than a fictitious fiction. Lawyers stated that there is no support other than tweeting towards a legitimate cryptocurrency.
According to Reuters, investors think Musk is promoting the cryptocurrency on Twitter and Saturday Night Live. Expressing that they have made billions of dollars in profit with this support, investors believe that the price of Dogecoin has been deliberately increased.
The acceptance of the $258 billion blackmail lawsuit could land Musk in big trouble. The CEO of Twitter, the second richest person in the world, has a fortune of $ 193 billion.
Musk recently replaced Twitter’s logo with the symbol of Dogecoin. After this move, which found movement in the crypto money world, the price of Dogecoin went up to $ 0.096.
What do you think about Elon Musk and Dogecoin? You can share your ideas with us in the comments section.
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