{"id":653419,"date":"2024-11-16T16:30:01","date_gmt":"2024-11-16T16:30:01","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=653419"},"modified":"2024-11-16T08:38:23","modified_gmt":"2024-11-16T08:38:23","slug":"dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal\/","title":{"rendered":"Dogecoin Drama Ends: Investors Drop Elon Musk Lawsuit Appeal"},"content":{"rendered":"

A lawsuit claiming that Tesla\u2019s Elon Musk rigged Dogecoin to benefit his company has ended.<\/p>\n

Related Reading: Solana Rising: Key Metrics Hint At Serious Ethereum Competitor<\/a><\/div>\n

According to reports, investors who initially claimed that Musk manipulated Dogecoin\u2019s price have withdrawn their complaint.<\/a> Also, the group is withdrawing its bid to sanction Musk\u2019s lawyers for supposedly interfering with the appeal, including canceling a request to cover their legal fees.<\/p>\n

The lawsuit<\/a> alleged that Tesla and Musk influenced Dogecoin\u2019s price through social media posts and public statements. They highlighted Musk\u2019s appearance on Saturday Night Live in 2021, arguing that the Tesla owner made remarks influencing the token\u2019s price, allowing him to profit from these price swings.<\/p>\n

Elon Musk Public Statements And Stunts ‘Influenced Dogecoin Price’<\/strong><\/h2>\n

Investors filed a case against Musk in response to his statements and posts that supposedly influenced the Dogecoin price<\/a>. The lawsuit highlighted Musk\u2019s presence in NBC\u2019s Saturday Night Live in 2021, where he shared his views on Dogecoin, pushing the token\u2019s price to increase.<\/p>\n

According to the complainants, Musk manipulated the market to his benefit. They claimed that Musk manipulated the market through postings on Twitter\/X, adding the tag \u201cDogecoin CEO\u201d and using the DOGE symbol as part of his bio.<\/p>\n

The group alleged that the token\u2019s price surged after Musk commented, including a statement that Tesla will accept Dogecoin as a payment method. The complainants<\/a> were seeking damages of $258 billion from Elon Musk.<\/p>\n

DOGE is currently trading at $0.37. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Court Dismisses Case Against Tesla CEO<\/strong><\/h2>\n

The court has already dismissed the case against Tesla and Musk last August. In dismissing the case, US District Judge Alvin Hellerstein argued that the complainants cannot prove securities solely based on Musk\u2019s post on social media.<\/p>\n

The judge added that Musk\u2019s statement, saying that Dogecoin is the world\u2019s future currency, can be used to buy Tesla, and can \u201cfly to the moon, are considered \u201caspirational and puffery\u201d and not necessarily factual.<\/p>\n

In short, Judge Hellerstein explained that no reasonable person should rely on posts to complain about securities fraud. The judge further noted that it would be challenging to show and prove insider trading and market manipulation claims based on posts alone.<\/p>\n

Related Reading: Bitcoin To $800K? Galaxy Digital CEO Unveils Bold 5-10 Year Forecast<\/a><\/div>\n

Musk And Tesla Officially Withdraw Their Motion<\/strong><\/h3>\n

Immediately after receiving the fraud and market manipulation complaint, Musk\u2019s team motioned to sanction the group\u2019s lawyers for filing a \u201cfrivolous case.\u201d Musk called out the legal team for their ever-changing arguments to extort money.<\/p>\n

Last Thursday, both sides filed stipulations to dismiss the appeal in a Manhattan court. These requests require Judge Hellerstein’s approval, and upon signature, the cases are officially dismissed.<\/p>\n

Featured image from DALL-E, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A lawsuit claiming that Tesla\u2019s Elon Musk rigged Dogecoin to benefit his company has ended. Related Reading: Solana Rising: Key Metrics Hint At Serious Ethereum Competitor According to reports, investors who initially claimed that Musk manipulated Dogecoin\u2019s price have withdrawn their complaint. Also, the group is withdrawing its bid to sanction Musk\u2019s lawyers for supposedly interfering with the appeal, including canceling a request to cover their legal fees. The lawsuit alleged that Tesla and Musk influenced Dogecoin\u2019s price through social media posts and public statements. They highlighted Musk\u2019s appearance on Saturday Night Live in 2021, arguing that the Tesla owner made remarks influencing the token\u2019s price, allowing him to profit from these price swings. Elon Musk Public Statements And Stunts ‘Influenced Dogecoin Price’ Investors filed a case against Musk in response to his statements and posts that supposedly influenced the Dogecoin price. The lawsuit highlighted Musk\u2019s presence in NBC\u2019s Saturday Night Live in 2021, where he shared his views on Dogecoin, pushing the token\u2019s price to increase. According to the complainants, Musk manipulated the market to his benefit. They claimed that Musk manipulated the market through postings on Twitter\/X, adding the tag \u201cDogecoin CEO\u201d and using the DOGE symbol as part of his bio. The group alleged that the token\u2019s price surged after Musk commented, including a statement that Tesla will accept Dogecoin as a payment method. The complainants were seeking damages of $258 billion from Elon Musk. Court Dismisses Case Against Tesla CEO The court has already dismissed the case against Tesla and Musk last August. In dismissing the case, US District Judge Alvin Hellerstein argued that the complainants cannot prove securities solely based on Musk\u2019s post on social media. The judge added that Musk\u2019s statement, saying that Dogecoin is the world\u2019s future currency, can be used to buy Tesla, and can \u201cfly to the moon, are considered \u201caspirational and puffery\u201d and not necessarily factual. In short, Judge Hellerstein explained that no reasonable person should rely on posts to complain about securities fraud. The judge further noted that it would be challenging to show and prove insider trading and market manipulation claims based on posts alone. Related Reading: Bitcoin To $800K? Galaxy Digital CEO Unveils Bold 5-10 Year Forecast Musk And Tesla Officially Withdraw Their Motion Immediately after receiving the fraud and market manipulation complaint, Musk\u2019s team motioned to sanction the group\u2019s lawyers for filing a \u201cfrivolous case.\u201d Musk called out the legal team for their ever-changing arguments to extort money. Last Thursday, both sides filed stipulations to dismiss the appeal in a Manhattan court. These requests require Judge Hellerstein’s approval, and upon signature, the cases are officially dismissed. Featured image from DALL-E, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":653435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,1785,7,8375,2718],"class_list":["post-653419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-doge","tag-dogecoin","tag-elon-musk","tag-lawsuit"],"acf":[],"yoast_head":"\nDogecoin Drama Ends: Investors Drop Elon Musk Lawsuit Appeal<\/title>\n<meta name=\"description\" content=\"A lawsuit claiming that Tesla\u2019s Elon Musk rigged Dogecoin to benefit his company has ended. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Drama Ends: Investors Drop Elon Musk Lawsuit Appeal","url":"http:\/\/www.ktsl888.com\/news\/dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/11\/a_1410bf.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/11\/a_1410bf.jpg?fit=1024%2C1021"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","doge","dogecoin","elon musk","lawsuit"],"dateCreated":"2024-11-16T16:30:01Z","datePublished":"2024-11-16T16:30:01Z","dateModified":"2024-11-16T16:30:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Drama Ends: Investors Drop Elon Musk Lawsuit Appeal\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/dogecoin-drama-ends-investors-drop-elon-musk-lawsuit-appeal\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/a_1410bf.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/a_1410bf.jpg?fit=1024%2C1021\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"doge\",\"dogecoin\",\"elon musk\",\"lawsuit\"],\"dateCreated\":\"2024-11-16T16:30:01Z\",\"datePublished\":\"2024-11-16T16:30:01Z\",\"dateModified\":\"2024-11-16T16:30:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/11\/a_1410bf.jpg?fit=1024%2C1021","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=653419"}],"version-history":[{"count":5,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653419\/revisions"}],"predecessor-version":[{"id":653439,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/653419\/revisions\/653439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/653435"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=653419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=653419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=653419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}