Skip to main content

Despite a large class action lawsuit – Elon Musk is sticking to his support for Dogecoin (DOGE)

 


Even a $258 billion class action lawsuit hasn't stopped the influential entrepreneur Elon Musk from publicly campaigning for the Dogecoin ( DOGE ).


On June 16, a class action lawsuit was filed in a New York court against the world's richest man and his companies SpaceX and Tesla, alleging that Musk's advocacy for the DOGE promoted a fraudulent pyramid scheme. As a result, the plaintiffs are demanding a total of USD 258 billion in damages from the defendant, and efforts are to be made to ensure that trading Dogecoin in the USA is classified as gambling in the future.



The crypto community reacted to the strange lawsuit with ridicule and malice, and Musk does not seem particularly impressed by the project either, because the prominent entrepreneur has now completely freely confirmed in a subsequent tweet that he will continue to "support the Dogecoin" in the future ( see above).


Yesterday, however, its former founder Billy Markus - who no longer works on the project - admitted that there is also justified criticism of the DOGE. So far, the father of the cryptocurrency has had too much mere hype and speculation in play, which is why he hopes that the developers will create real added value in the future.


Elon Musk, in turn, responded to this suggestion by suggesting that the Dogecoin needs to become more like an actual currency. The entrepreneur added that the joke cryptocurrency could be integrated even more extensively with Tesla and SpaceX as a means of payment in the future.


Even if Musk himself is not involved in fraudulent activities, there are always scammers who want to capitalize on the Dogecoin fan's reputation and high-profile communication.



Musk recently advertised a fake video in which he allegedly advertises a fraudulent crypto trading platform. Shortly afterwards he himself contradicted this.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

BlackRock launches crypto ETF, certifies massive growth potential for crypto market

  Influential asset manager BlackRock has launched a blockchain index fund (ETF) that offers investors a way to invest in the crypto industry without having to invest directly in related cryptocurrencies. Accordingly, the world's largest asset manager, which currently has assets worth almost 10 trillion. US dollars managed, the so-called Blockchain and Tech ETF (IBLC) was launched this week. The $4.7 million ETF does not invest directly in cryptocurrencies or crypto investment products, but instead tracks various companies within the crypto industry. The ETF is made up of 41 different securities, of which the American crypto exchange Coinbase accounts for the largest share at 11.45%. They are followed by the Bitcoin ( BTC ) mining companies Marathon Digital Holdings (11.19%) and Riot Blockchain (10.41%). To still leave room for future investments in the crypto market, the ETF has a 9.15% cash component in US dollars. In addition to the launch of the new ETF, BlackRock has also publ...
Post a Comment
Read more

Not a bear market: According to the analyst, the current BTC decline is the same as in previous Bitcoin cycles

  According to one analyst, Bitcoin is behaving the same overall this year as it has in previous cycles. Bitcoin ( BTC ) will have “at least one more boost higher” before hitting all-time highs this halving cycle, analysts are currently saying. The well-known analyst TechDev has spoken on Twitter about the current state of BTC and said that contrary to many opinions, nothing unusual has happened in BTC/USD in 2022. Bitcoin in 2021: Nothing to see here Sentiment has also taken a hit, falling 40 percent from November's all-time high of $69,000. There is still “extreme fear” in the bitcoin and altcoin market. TechDev, known for his bullish views on Bitcoin, sees no reason to worry. He analyzed the new wallet addresses in relation to course behavior and shows here that the scenario from last year was by no means an isolated case. Back then, the number of new addresses made lower highs while the price made higher highs. "In 4 of the 6 corrections, there was divergence with price ma...
Post a Comment
Read more

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more