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Dogecoin Lawsuit: Elon Musk Accused of Insider Trading

  • #Computer Science
  • #Lawsuits
  • #Finance
  • #Science & technology
  • #United States of America
story
JUN 2023
Image copyright: Heisenberg Media [via Wikimedia Commons]
story last updated JUN 2023

The Spin

Narrative A

Elon Musk may act like everything he Tweets or quips is a joke, but that doesn't absolve him from abusing his platform as one of the world's wealthiest and most influential people. Musk's reach across many different mediums allowed him to manipulate Dogecoin's price so that he could pump and dump the cryptocurrency, adding to his wealth. Musk's complete disregard for ethics cost investors billions, and he should be held responsible for his role. His big mouth has cost him some goodwill, and it may finally hurt his wallet.

Protos

Narrative B

The latest installment of the frivolous $258B lawsuit against Elon Musk is now taking the ludicrous leap to claim that the Twitter owner participated in insider trading by posting funny pictures about the cryptocurrency. The investors suing Musk have yet to say how the Tesla CEO is responsible for Dogecoin's performance or what laws he broke. Since facts and evidence usually aren't vital to these bloated class action suits, being rich signifies you're no longer allowed to post memes without being sued.

CryptoPotato

Metaculus Prediction


Public Figures

Elon Musk


Articles on this story

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Shark Tank's Kevin O'Leary explains how he's betting on crypto in a post-FTX landscape - and why unregulated exchanges will get 'sued into oblivion'
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The Dogecoin price spikes after Elon Musk changes Twitter logo to the Shiba Inu dog
NPR Online NewsAUG 2023
Shark Tank investor Kevin O'Leary breaks down his latest crypto bet as regulators look to crush 'rogue' operators
Business InsiderAUG 2023
Why is a shiba inu ‘doge’ center stage on Elon Musk’s Twitter?
Washington PostAUG 2023
Elon Musk replaces Twitter's bird icon with Dogecoin's cartoon mascot
Daily MailAUG 2023
Elon Musk sued for $258 billion over dogecoin tweets
IndependentAUG 2023
Elon Musk Replaces Twitter Bird Logo With Doge Meme
Daily CallerAUG 2023
Elon Musk Faces $258 Billion Lawsuit over ‘Dogecoin’ Cryptocurrency Manipulation Claims
BreitbartAUG 2023