Sunday, June 4, 2023
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Ethereum

Elon Musk Suddenly Hit With Huge $258 Billion Crypto Pyramid Scheme Lawsuit Over Dogecoin Amid A Devastating Bitcoin And Ethereum Price Crash

by Crypto News
June 17, 2022
in Ethereum
0
Elon Musk Suddenly Hit With Huge $258 Billion Crypto Pyramid Scheme Lawsuit Over Dogecoin Amid A Devastating Bitcoin And Ethereum Price Crash
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Tesla
TSLA
billionaire Elon Musk, who has the ability to create and destroy billions of {dollars} value of bitcoin and crypto worth with only a tweet, has helped the meme-based dogecoin turn into a high ten cryptocurrency during the last 18 months—just weeks ago revealing one reason he thinks “people love dogecoin.”

Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin and crypto market

Nonetheless, the dogecoin value has crashed over the previous few months, shedding greater than 90% of its worth since hitting an all-time excessive in Might final 12 months and dropping along with the price of bitcoin, ethereum and the wider crypto market.

Now, as bitcoin and ethereum teeter on the brink of disaster, Musk and his firms Tesla and SpaceX have been hit with a $258 billion lawsuit claiming they’re a part of a racketeering scheme to pump the dogecoin value.

Wish to keep forward of the market and perceive the newest crypto information? Sign up now for the free CryptoCodex—A day by day e-newsletter for merchants, buyers and the crypto-curious


MORE FROM FORBESTreasury Secretary Janet Yellen Issues Serious Crypto Warning As Sudden Price Crash Hits Bitcoin, Ethereum, BNB, Solana, Cardano And XRPBy Billy Bambrough

Tesla and SpaceX founder Elon Musk has toned down his bullish dogecoin tweets in current months amid … [+] a bitcoin, ethereum and crypto value crash.

Anadolu Company through Getty Pictures

“[Musk, Tesla and SpaceX] falsely and deceptively declare that dogecoin is a authentic funding when it has no worth in any respect,” Keith Johnson, described as “an American citizen who was defrauded out of cash by defendants’ dogecoin crypto pyramid scheme,” wrote in the complaint.

Johnson, who filed the lawsuit in New York, is searching for class-action standing for the swimsuit and goals to signify different allegedly harmed buyers. He is asking for $86 billion in damages, together with triple damages of $172 billion, in addition to an order blocking Musk, Tesla and SpaceX from selling dogecoin.

Related articles

Ethereum Lost 6.24% to $3807.82 at 5 p.m. ET — Data Talk

Ethereum Lost 3.63% to $1172.11 at 5 p.m. ET — Data Talk

November 28, 2022
Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

November 28, 2022

“[Dogecoin
DOGE
is] merely a fraud whereby ‘larger fools’ are deceived into shopping for the coin at the next value,” the lawsuit learn earlier than occurring to record Musk’s a number of tweets and public statements which have pushed up the dogecoin value during the last 18 months.

Musk, who was voted “dogecoin CEO” in a joke Twitter ballot in 2019 and adopted the moniker “The Dogefather,” has been a fan of the tongue-in-cheek bitcoin rival for years, naming dogecoin as his favourite cryptocurrency.

Musk has beforehand stated he personally owns dogecoin, together with bitcoin and ethereum. In early 2021, Musk despatched the bitcoin value sharply greater when it was revealed Tesla had purchased $1.5 billion value of bitcoin.

Final 12 months, as a bitcoin, ethereum and broad cryptocurrency bull run pushed costs to blistering highs, Musk repeatedly known as on dogecoin builders to improve the cryptocurrency with a view to “beat bitcoin palms down.”

Sign up now for CryptoCodex—A free, day by day e-newsletter for the crypto-curious

MORE FROM FORBESSerious Warning Issued Over Major Bitcoin And Crypto Exchange Binance And Its Ethereum Rival BNB After SEC Bombshell Hits Its PriceBy Billy Bambrough

The dogecoin value abruptly exploded in early 2021, helped greater by a band of influencers led by … [+] Tesla billionaire Elon Musk and making it a high ten cryptocurrency alongside bitcoin and ethereum.

Forbes Digital Belongings

The dogecoin value peaked forward of Musk’s hotly-anticipated look on the comedy sketch present Saturday Night time Stay and has since misplaced 93% of its worth.

Since then, Musk has rolled out Tesla and SpaceX assist for dogecoin funds, permitting prospects to purchase merchandise in dogecoin.

Tesla final 12 months briefly started accepting bitcoin for automotive purchases however Musk pulled the plug simply two months later, blaming bitcoin’s excessive power calls for and carbon footprint. Musk went onto say Tesla would most definitely restart accepting bitcoin although it hasn’t achieved so but.



Source link

Share76Tweet47

Related Posts

Ethereum Lost 6.24% to $3807.82 at 5 p.m. ET — Data Talk

Ethereum Lost 3.63% to $1172.11 at 5 p.m. ET — Data Talk

by Crypto News
November 28, 2022
0

Ethereum is down $44.10 immediately or 3.63% to $1172.11 --Snaps a six day successful streak --Down 25.17% month-to-date; On...

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

by Crypto News
November 28, 2022
0

Ethereum’s burning charge was greater than minting actions, leading to a very good provide charge Staking actions had been...

These Ethereum Competitors Are Down Over 90% — Are They Worth the Risk?

These Ethereum Competitors Are Down Over 90% — Are They Worth the Risk?

by Crypto News
November 28, 2022
0

Ethereum (ETH -3.67%) could also be down 69% for the 12 months, however its rivals are getting crushed even...

Top 3 Ethereum Use Cases that will NEVER let Ethereum Die!

Top 3 Ethereum Use Cases that will NEVER let Ethereum Die!

by Crypto News
November 28, 2022
0

The crypto market has been crashing since October 2021. A yr has handed and crypto costs are nonetheless on...

Daily Brief Financials: Ethereum and more – Smartkarma

Daily Brief Financials: Ethereum and more – Smartkarma

by Crypto News
November 28, 2022
0

Daily Brief Financials: Ethereum and more  Smartkarma Source link

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

October 22, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

February 16, 2023
Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

February 16, 2023
Cryptocurrency Public & Private Keys

Cryptocurrency Public & Private Keys

February 16, 2023
CARDANO FOUNDER REVERSES ON COIN BURN

CARDANO FOUNDER REVERSES ON COIN BURN

February 16, 2023

Recent News

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

BITCOIN TRADING LIVE – TECHNICAL ANALYSIS OF ALTCOIN CHARTS – WHAT IS COMING NEXT FOR BITCOINS PRICE

February 16, 2023
Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

Large Bitcoin BREAKOUT Coming SOON? TOTAL Market Cap Rallies Past New HIGH!

February 16, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News