Earon Mask is sued for alleged insider trading on Dogecoin, suspected of raising the price by more than 36,000% in two years
by
Investors have complained that Elon Musk, CEO of Tesla and Twitter, was involved in insider trading due to suspicions that he often referred to the virtual currency `` Dogecoin '' born from the net meme and manipulated the price. It happened from
Elon Musk is accused of insider trading by investors in Dogecoin lawsuit | Reuters
https://www.reuters.com/legal/elon-musk-is-accused-insider-trading-by-investors-dogecoin-lawsuit-2023-06-01/
According to the complaint filed in federal court, plaintiff investors allege that Musk profited from his Dogecoin holdings through 'publicity' through Twitter posts and television appearances. I'm here. The complaint will be included in the third amended complaint filed by an investor against Musk in June 2022.
Mr. Mask has been interested in virtual currency for some time, and he often mentions Dogecoin because he likes Internet memes. In February 2021, he tweeted that ``Dogecoin is the people's virtual currency,'' attracting people's attention, and the price of Dogecoin, which had been of increasing interest due to the GameStop stock issue, continued to rise.
The market capitalization of the virtual currency `` Dogecoin '' from Netmeme exceeds about 4.6 trillion yen, soaring about 6 times in just 4 days - GIGAZINE
Dogecoin's price rose 30% when Musk jokingly changed the Twitter logo from a blue bird to Dogecoin's Shiba Inu.
Twitter's logo changes to Dogecoin's Shiba Inu icon - GIGAZINE
In this trial, there was an opinion that Mr. Mask intentionally raised the price of Dogecoin by more than 36,000% in two years and then crashed. Mr. Musk and lawyers regard the lawsuit as 'fantasy, fiction' and are seeking to withdraw the blackmail lawsuit. The amount of damages sought by plaintiffs is up to $ 258 billion (about 35.8 trillion yen).
Related Posts:
in Posted by log1p_kr