Published , by Morgan Shaver
Published , by Morgan Shaver
A plethora of interesting, and strange, news has dropped today regarding Elon Musk including how he’s being sued for a whopping $258 billion over allegations that he ran a pyramid scheme in supporting the cryptocurrency Dogecoin (DOGE).
Musk is being sued by the likes of Keith Johnson, with the main complaint being that Musk promoted Dogecoin and profited from its trading, even though Dogecoin “had no value.”
Musk (or more specifically, Musk’s lawyer) has yet to respond to requests to comment on the lawsuit. Likewise, Johnson’s lawyers have also failed to respond to requests for comments on things like what sort of evidence Johnson has to verify claims of Dogecoin being “worthless” and that Musk ran a “pyramid scheme” by supporting it.
Johnson is asking for $86 billion in damages in the class-action lawsuit, and — given the “decline in Dogecoin’s market value” — is also asking for that figure to be tripled, bringing the total up to a staggering $258 billion. As reported by Reuters, “He also wants to block Musk and his companies from promoting Dogecoin and a judge to declare that trading Dogecoin is gambling under federal and New York law.”
This part sounds a bit more reasonable than the rest of the lawsuit details, of course, as you continue reading through the Reuters report it goes right back to sounding a tad ridiculous.
As we wait to learn more about the lawsuit Johnson has filed against Musk over Dogecoin (DOGE), we’re curious what your thoughts are on the situation. Let us know in Chatty, and for more on what’s going on with Elon Musk, also be sure to read through our coverage of Elon Musk telling Twitter employees that he hasn’t seen any actual evidence of aliens.