A lawsuit claiming that Tesla’s Elon Musk rigged Dogecoin to benefit his company has ended. Related Reading: Solana Rising: Key Metrics Hint At Serious Ethereum Competitor According to reports, investors who initially claimed that Musk manipulated Dogecoin’s price have withdrawn their complaint. Also, the group is withdrawing its bid to sanction Musk’s lawyers for supposedly interfering with the appeal, including canceling a request to cover their legal fees. The lawsuit alleged that Tesla and Musk influenced Dogecoin’s price through social media posts and public statements. They highlighted Musk’s appearance on Saturday Night Live in 2021, arguing that the Tesla owner made remarks influencing the token’s price, allowing him to profit from these price swings. Elon Musk Public Statements And Stunts ‘Influenced Dogecoin Price’ Investors filed a case against Musk in response to his statements and posts that supposedly influenced the Dogecoin price. The lawsuit highlighted Musk’s presence in NBC’s Saturday Night Live in 2021, where he shared his views on Dogecoin, pushing the token’s price to increase. According to the complainants, Musk manipulated the market to his benefit. They claimed that Musk manipulated the market through postings on Twitter/X, adding the tag “Dogecoin CEO” and using the DOGE symbol as part of his bio. The group alleged that the token’s price surged after Musk commented, including a statement that Tesla will accept Dogecoin as a payment method. The complainants were seeking damages of $258 billion from Elon Musk. Court Dismisses Case Against Tesla CEO The court has already dismissed the case against Tesla and Musk last August. In dismissing the case, US District Judge Alvin Hellerstein argued that the complainants cannot prove securities solely based on Musk’s post on social media. The judge added that Musk’s statement, saying that Dogecoin is the world’s future currency, can be used to buy Tesla, and can “fly to the moon, are considered “aspirational and puffery” and not necessarily factual. In short, Judge Hellerstein explained that no reasonable person should rely on posts to complain about securities fraud. The judge further noted that it would be challenging to show and prove insider trading and market manipulation claims based on posts alone. Related Reading: Bitcoin To $800K? Galaxy Digital CEO Unveils Bold 5-10 Year Forecast Musk And Tesla Officially Withdraw Their Motion Immediately after receiving the fraud and market manipulation complaint, Musk’s team motioned to sanction the group’s lawyers for filing a “frivolous case.” Musk called out the legal team for their ever-changing arguments to extort money. Last Thursday, both sides filed stipulations to dismiss the appeal in a Manhattan court. These requests require Judge Hellerstein’s approval, and upon signature, the cases are officially dismissed. Featured image from DALL-E, chart from TradingView
As Bitcoin (BTC) consolidates above the $90,000 mark, an analyst has suggested that the chances of the leading cryptocurrency hitting … Continue reading The post Bitcoin price levels to watch as $100,000 target becomes more realistic appeared first on Finbold .
Russell Okung acquired 240 BTC for half his $13 million salary in 2020. Four years later, the value of his investment is over $21 million.
Tesla CEO Elon Musk reportedly dismissed OpenAI CEO Sam Altman’s proposal to launch a cryptocurrency token in early 2018, warning that such a move could severely damage the company’s credibility, according to a court filing. “In January 2018, mere months after their September 2017 ‘enthusias[m],’ Altman proposed a scamworthy ‘ICO,’ or initial coin offering, that would have seen OpenAI, Inc. sell its own cryptocurrency,” Musk’s lawyers stated in a Nov. 14 filing with the U.S. District Court for the Northern District of California. “Musk shot down this idea too, stating, ‘It would simply result in a massive loss of credibility
Bitcoin’s current price rally signals potential upward momentum, with crucial metrics indicating more room for growth beyond $100,000. Analysts are increasingly optimistic, suggesting that a combination of technical indicators and
Bitcoin’s recent surge to an all-time high has catalyzed significant market movement, pushing crypto-related mobile applications to new heights. As of this week, the cumulative market capitalization for all cryptocurrencies
DOGE overcame XRP last week, but the role have reversed now.
This particular BTC whale has raked in a mammoth 150,000,000% profit on their holdings.
Bitcoin's recent spike to a new all-time high price has lifted the entire market—and mobile crypto apps on iOS and Android are surging too.
ETFSwap (ETFS) Unveils Exclusive Offer To Crypto Investors With 50% Bonus For Final Presale Round The post ETFSwap (ETFS) Unveils Exclusive Offer To Crypto Investors With 50% Bonus For Final Presale Round appeared first on TheCoinrise.com .