Dogecoin

Shiba Inu

Elon Musk

<p>Elon Musk, the CEO of Tesla and SpaceX, has denied allegations that he holds a Dogecoin portfolio linked to insider trading. The ongoing class-action lawsuit accuses Musk of being involved in a racketeering scheme to support Dogecoin. The plaintiffs are seeking $260 billion in damages. According to court documents, two wallets associated with Musk sold 1.4 billion Dogecoins, worth over $124 million, over a two-day period in April.</p> 
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     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a>: <a href="https://twitter.com/hashtag/ElonMusk?src=hash&amp;ref_src=twsrc%5Etfw">#ElonMusk</a> has denied allegations of owning <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> wallets connected to insider trading amid an ongoing class action lawsuit. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9d0.png" alt="🧐" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/p85SENcrw3">https://t.co/p85SENcrw3</a></p>— CoinMarketCap (@CoinMarketCap) <a href="https://twitter.com/CoinMarketCap/status/1670665209957023746?ref_src=twsrc%5Etfw">June 19, 2023</a>
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  CoinMarketcap reporting on Twitter that Elon Musk denied the allegations of owning Dogecoin wallets connected to insider trading.
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<h2 id="h-is-elon-musk-using-his-influence-over-dogecoin-to-scam-holders">Is Elon Musk using his influence over Dogecoin to scam holders?</h2> 
<p>This question is currently being addressed by the ongoing class-action lawsuit against Elon Musk in Manhattan, United States. The man often referred to as The Dogefather or the CEO of Dogecoin is accused of market manipulation and <a href="http://cointribune.com/dogecoin-elon-musk-poursuivi-pour-delit-dinitie/" target="_blank" rel="noreferrer noopener">insider trading</a>. His maneuvers allegedly involved artificially inflating the price of DOGE. The man who now heads Twitter had changed his logo from a bird to the Shiba Inu dog, causing a <a href="http://cointribune.com/elon-musk-remplace-le-logo-twitter-par-dogecoin-hausse-immediate/" target="_blank" rel="noreferrer noopener">massive surge</a> that propelled the price of DOGE to $0.10.</p>
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<p>Taking advantage of this increase, a whale, an investor holding a significant amount of DOGE, traded 1.4 billion tokens, reportedly earning $124 million at that time. Naturally, Elon Musk’s lawyer, Alex Shapiro, has denied the allegations that his client engaged in market manipulation and insider trading.</p> 
<h2 id="h-musk-tackles-crypto-scams-on-twitter">Musk tackles crypto scams on Twitter</h2> 
<p>Perhaps to demonstrate his willingness to combat crypto scams, Elon Musk suspended the account “Explain This Bob.” It was actually an AI bot associated with the memecoin $BOB. Elon concluded that it “certainly looks like a fraudulent crypto account,” and Twitter promptly suspended it.</p> 
<p>This bot <a href="https://dailycoin.com/musk-denies-owning-dogecoin-in-260b-doge-pyramid-case/?utm_source=cryptopanic&amp;utm_medium=rss" target="_blank" rel="noreferrer noopener">provided</a> responses on Crypto Twitter similar to ChatGPT. It had already gained over 400,000 followers before its suspension. Unsurprisingly, its many followers are requesting its restoration.</p> 
<p>The bot “Explain This Bob” created by Prabhu Biswal, an Indian resident, clearly demonstrates how easily crypto scams thrive on Twitter. <a href="http://cointribune.com/voici-comment-elon-musk-veut-revolutionner-twitter/(ouvre%20un%20nouvel%20onglet)" target="_blank" rel="noreferrer noopener">How</a> will Elon Musk succeed in resolving this problem?</p>

Elon Musk denies involvement in $260 billion scam

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