Elon Musk, Tesla, and SpaceX are all being sued for $258 billion over charges that they all played a part in the “Dogecoin pyramid scam.” Keith Johnson, an American investor, filed the complaint after being “defrauded out of money” as a result of his conduct. “Musk exploited his position as the world’s richest man to control and manipulate the Dogecoin pyramid scheme for profit, exposure, and pleasure,” according to court documents filed in New York. Last year, DOGE soared by 18,000 percent in just over four months, reaching highs of 73 cents. However, the memecoin’s value has dropped by 92% since then. Billy Markus, a co-founder of Dogecoin, calls the lawsuit “dumb as f***.”
Musk has stated that integrating cryptocurrency payments into Twitter “makes sense.” Despite the fact that his planned takeover has stagnated in recent weeks, the billionaire was speaking at an all-hands gathering with the social network’s personnel. He said, according to CoinDesk: “Money is primarily digital now, and has been for some time… Integration of payments within Twitter would make it simple to transmit money back and forth.” In another part of the virtual discussion, Musk suggested that, due to the current economic climate, Twitter may have to lay off employees, saying: “Costs outweigh revenue. That’s not a good scenario to be in.” Crypto Twitter users may be breathing a sigh of relief when he stressed that, while he believes that all individuals on the social network should be verified, he has no plans to force users to reveal their true identities.
