Dogecoin Investor Lawsuit Against Elon Musk Dropped After Two Years
Dogecoin investors have officially dropped their $258B case against Elon Musk.
The $258 billion lawsuit filed against Elon Musk and Tesla by Dogecoin investors is officially over. Plaintiffs had accused Musk of running a “crypto pyramid scheme,” claiming his tweets and Saturday Night Live appearance as “The Dogefather” manipulated Dogecoin’s price.
Filed in 2022, the lawsuit alleged Musk used tactics like his iconic tweet calling Dogecoin “the people’s crypto” to hype up the memecoin. Despite these claims, Musk’s legal team labeled the case a “work of fiction.”
The withdrawal comes as Dogecoin continues to thrive, holding a market cap of over $10 billion. Check out Dogecoin’s recent market statsto see how it’s performing.
For context, the original lawsuit had accused Musk of using his social influence to form the “Doge Army” to drive up the coin’s value. Now, both parties have agreed to drop the case without further appeals.
This wraps up one of the most dramatic crypto legal battles in recent history. 🚀
