Elon Musk នឹងទទួលការចោទប្រកាន់មួយបន្ថែមទៀត - ការជួញដូរខាងក្នុងនៃ Dogecoin

The lawsuit against Tesla and SpaceX CEO, Elon Musk, for his link to Dogecoin recently witnessed the third amendment. The group of Dogecoin (DOGE) investors requested the amendment against Musk. This time, he would have to face the allegations of manipulating the price of popular crypto assets. 

Plaintiffs filed in the United States District Court for the Southern District of New York on Wednesday, May 31. The filing noted the allegations against Mush that some of his activities made him do the profitable trades with his own Dogecoin wallets and also of his company, according to the Reuters report. 

The activities noted in the filing include his posts on Twitter, paying online influencers, an instance of 2021 when he appeared on “Saturday Night  Live” on NBC, and several other such “publicity stunts.”

Instance of changing Twitter logo was also included in the filing. In April this year,  the famous blue bird logo of the social media platform was changed with Shiba Inu breed’s dog logo—Dogecoin logo. This led to the pump of the price of memecoin overnight and it reached up to 30%. Musk was said to sell-off Dogecoin (DOGE) in his possession and made about 124 million USD. 

Reuters reported, the filing noted that Musk’s actions were a “deliberate course of carnival barking” manipulation of the market and involved insider trading. All this made Musk cheat on investors and defraud them while promoting “himself and his companies.” 

Lawsuit Against Musk for Dogecoin to Complete an Year

The lawsuit against the centibillionaire entrepreneur was filed in June 2022 for the first time. Since then, it had gone through two amendments and including the recent one the number reached to three. The plaintiffs’ demand a huge compensation of 258 billion USD from Musk. 

In March this year, Musk and his company went on to the court and asked for dismissing the 258 billion USD lawsuit. Citing the allegations and amount demanded for compensation, they called it a “fanciful work of fiction.” 

Though Musk, who is one of the active and outspoken personalities over different issues, didn’t comment anything on the recent development. 

U.S. District Judge, Alvin Hellestein, reportedly said to allow the complaint noted in the third amendment. He said the defendants might not be prejudiced. 

Musk and Twitter Saga

Another entity which becomes part of conversations about Elon Musk is the popular social media platform Twitter. Since his takeover of the company in October 2022 in a whopping 44 billion USD, he has made a number of changes from layoff to its revenue model to subscription fee, etc. 

The valuation of Twitter reportedly dropped up to 33% since then. Musk himself was holding the reign of the company as the CEO, but last month indicated to step down. On May 12, he announced the former chair of global advertising and partnerships at NBC Universal, Linda Yaccarino, to take her position as new CEO of Twitter. 

Nancy J. Allen
ប្រកាសចុងក្រោយដោយ Nancy J. Allen (ឃើញ​ទាំងអស់)

Source: https://www.thecoinrepublic.com/2023/06/03/elon-musk-to-bear-one-more-allegation-insider-trading-of-dogecoin/