Elon Musk, Tesla, Spacex Facing $258 Billion Lawsuit for Promoting Dogecoin

Elon Musk, Tesla, Spacex Facing $258 Billion Lawsuit for Promoting Dogecoin


Elon Musk, Tesla, and Spacex are being sued for $258 billion over claims that they “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.” The lawsuit states that Musk and his companies “falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.”

Lawsuit Filed Against Elon Musk, Spacex, Tesla Over Dogecoin

Dogecoin investor Keith Johnson filed a class-action lawsuit against Elon Musk and his companies, Tesla and Spacex, Thursday in federal court in Manhattan, Bloomberg reported.

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The lawsuit states:

Defendants Elon Musk, Spacex, and Tesla Inc. are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.

The plaintiff argued that DOGE is “simply a fraud whereby ‘greater

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