Elon Musk denies owning Dogecoin cryptocurrency wallets
Elon Musk Denies Owning Crypto Wallets in Lawsuit Alleging Dogecoin Manipulation
In a class-action lawsuit, Elon Musk has denied owning the crypto wallets allegedly used to engage in questionable Dogecoin trades. The lawsuit accuses the billionaire Tesla CEO of manipulating his pet digital currency and cashing in $95 million worth of Dogecoins. The amended complaint, filed on June 7 in a Manhattan federal court, linked digital wallets allegedly owned by Musk and Tesla to transactions made between April 3 and April 6. During this time, Musk-owned Twitter replaced its blue bird logo with the Dogecoin Shiba Inu symbol, resulting in a 30% spike in the cryptocurrency’s value.
However, Musk’s lawyer, Alex Spiro, quickly dismissed the allegations, sending a letter to the plaintiff’s lawyer, Evan Spencer. In the June 9 letter obtained by The Post, Spiro challenged the claims and questioned Spencer’s competence as an attorney. He stated that Spencer was wrong to assert that the wallets in question belonged to Musk and that there was no basis for such allegations.
The amended complaint relied on a tweet Musk made on February 10, 2021, where he stated that he purchased 28.061971 worth of Dogecoin. The complaint argued that this transaction, reflecting Musk’s date of birth, was evident in the wallet. According to the complaint, at its highest value, Musk’s wallet held over $25 billion in Dogecoin.
Musk has remained tight-lipped about the situation and declined to comment on the matter. His lawyer has until August to respond to the latest filing. On the other hand, Spencer remains confident in the case’s success, stating that it will be fought in court, not the media.
FAQs:
Q: What is Elon Musk being accused of in this lawsuit?
A: Elon Musk is being accused of manipulating Dogecoin, his pet digital currency, and cashing in $95 million worth of Dogecoins.
Q: What evidence is being used to link the alleged crypto wallets to Musk?
A: The amended complaint points to a tweet made by Musk on February 10, 2021, where he mentioned purchasing a specific amount of Dogecoin. The complaint argues that this transaction is reflected in the wallet, indicating Musk’s ownership.
Q: How did the logo change on Twitter affect Dogecoin’s value?
A: When Musk-owned Twitter replaced its blue bird logo with the Dogecoin Shiba Inu symbol, Dogecoin’s value spiked by 30%.
Q: What is Elon Musk’s response to the allegations?
A: Elon Musk has denied owning the crypto wallets in question and has declined to comment on the matter.
Q: When does Musk’s lawyer have to respond to the latest filing?
A: Musk’s lawyer has until August to respond to the latest filing in the lawsuit.
Elon Musk refutes claims of owning Dogecoin cryptocurrency wallets
Elon Musk Disputes Ownership of Crypto Wallets in Dogecoin Lawsuit
In a class-action lawsuit accusing Elon Musk of manipulating the value of Dogecoin, the billionaire Tesla CEO denied owning the crypto wallets allegedly used in suspicious trades, according to a letter obtained by The Post. The lawsuit, which has been ongoing for a year, alleges that Musk engaged in a pump-and-dump scheme and made $95 million from selling Dogecoins. An amended complaint filed on June 7 linked digital wallets allegedly owned by Musk and Tesla to transactions made between April 3 and April 6, during which time Musk’s Twitter account featured the Dogecoin Shiba Inu symbol instead of the usual blue bird logo. Shortly after the logo change, the cryptocurrency’s value increased by 30%.
Musk’s attorney, Alex Spiro, responded to the allegations in a letter sent on June 9, challenging the assertions made by plaintiff’s lawyer Evan Spencer and questioning his competence as an attorney. Spiro stated that the wallets in question did not belong to Musk and argued that the only basis for the claim was that these wallets sold Dogecoins when prices were up. The amended complaint referenced a tweet from Musk on February 10, 2021, where he stated that he had purchased a specific amount of Dogecoin. The transaction was supposedly reflected in one of the wallets identified in the lawsuit. The complaint also alleged that, at its peak, Musk’s wallet held over $25 billion worth of Dogecoin.
Spiro has until August to respond to the latest filing, while Spencer expressed confidence in the case’s success, stating that it will be fought in court, not the media. As of now, Musk has declined to comment on the matter.
This news piece provides an objective summary of the ongoing lawsuit, presenting the relevant details and statements from both sides involved. It maintains a journalistic tone and focuses on providing accurate information to the reader.