Investors who are not rich enough to pay dogecoin sued Musk: claim $258 billion

Musk, the world’s richest man, has been a little annoying recently. According to the Financial Associated Press, on Thursday, local time, Musk was sued by a Dogecoin investor on the grounds thatMusk constantly promotes and supports cryptocurrencies, enticing others to take over.

“The defendants (Musk and his company) have realized since 2019 that Dogecoin has no value, but have facilitated its transactions for profit,” the plaintiffs said in their complaint, and “Musk used his status as the world’s richest man to operate , manipulate the Dogecoin pyramid scheme for profit, exposure and entertainment.”

In order to strengthen his allegations, he also added to the complaint that celebrities such as Buffett and Bill Gates questioned cryptocurrencies.

The plaintiffs are asking Musk to triple the $86 billion in damages he and other investors lost.That’s $258 billion, which is far more than Musk’s $219 billion net worth.

Musk’s relationship with Dogecoin can be traced back to 2019. He publicly stated on Twitter that Dogecoin is his favorite cryptocurrency. Then, in two years, he released a total of 30 articles about dogecoin. Coin’s tweets are mostly praised.

Dogecoin investor sues Musk for $258 billion

Influenced and called by the richest man in the world, many people began to pay attention to Dogecoin, which in turn helped Dogecoin to usher in a surge in both transaction volume and price, making it an instant success.

However, in May 2021, Musk suddenly changed his tune in an evening entertainment show,Calling Dogecoin a “Scam”One stone stirred up a thousand waves, and then Dogecoin plummeted in a short period of time, and it continued to decline for a long time.

In January of this year, Musk also announced that Dogecoin will be able to buy some of Tesla’s products, but this cannot stop the decline of Dogecoin. As of June 16 this year, the closing price of Dogecoin has fallen to 0.054913 Dollar,More than 90% depreciated from its peak.

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