Dogecoin

The legal battle between <a href="https://optimisus.com/market/market-news/elon-musk-teases-the-possible-return-of-dogecoin-as-a-payment-option-for-tesla-merchandise/" rel="noopener noreferrer nofollow">Dogecoin investors and Elon Musk</a>, along with his company Tesla, has come to an end as the investors withdrew their appeal.The case, which originally sought $258 billion in damages, accused Musk of manipulating Dogecoin’s price through tweets, public appearances, and statements like calling it the “future currency of Earth.”In August, U.S. District Judge Alvin Hellerstein dismissed the lawsuit, stating that Musk’s comments, including his playful remarks about Dogecoin, could not reasonably be considered grounds for securities fraud or insider trading. The investors had argued that Musk&#39;s actions artificially inflated Dogecoin&#39;s value for personal gain.Following the dismissal, both sides escalated the dispute by filing motions for sanctions. Investors accused <a href="https://optimisus.com/market/market-news/elon-musk-sparks-debate-by-calling-fiat-currency-a-scam/" rel="noopener noreferrer nofollow">Musk&#39;s legal team of misconduct</a>, while Musk countered by labeling the lawsuit as &#34;frivolous.&#34; This week, both parties agreed to withdraw these motions, and the case awaits final approval for dismissal by Judge Hellerstein.The resolution closes a chapter in Musk’s controversial relationship with Dogecoin and the broader cryptocurrency space, where his influence often sparks both enthusiasm and volatility.

Plaintiffs drop their appeal in the Dogecoin lawsuit against Elon Musk

Optimisus

Other articles published on Nov 19, 2024

The Factors Affecting Ethereum

Goldman Sachs to Launch Independent Blockchain Platform, Expanding Institutional Digital Asset Se...

Trump Media Firm in Talks to Buy Crypto Platform Bakkt: Report

Best Wallet Raises $500K In First Week Of Exclusive ICO – 7 Days Remaining Until Public Launch

Mind Over Market – The Role of Emotional Intelligence in Trading Psychology

Membrane Finance Acquisition By Paxos Targets EU Expansion

Join our free newsletter for daily crypto updates!