Musk seems worried by the allegations, reiterating his commitment for the Dogecoin environment on Twitter, saying, “I will continue supporting Dogecoin.” Elon Musk has publicly expressed his ongoing support for Dogecoin despite a $257 billion class-action lawsuit claiming a crypto-pyramid scheme (DOGE).
Lawsuit on Elon Musk
A class action lawsuit was filed on Thursday in New York district court against Elon Musk. The world’s wealthiest man, and his firms, SpaceX and Tesla, for an accused Ponzi scheme involving DOGE. The case sought $257 billion in total compensatory damages from Musk, as well as a ruling that DOGE trading is considered betting in the U.S.
The lawsuit, on the other hand, did not sit well with the crypto community, with entrepreneurs mocking the action. In the tweet, Musk, too, seems unfazed by the allegations, reiterating his support for the Dogecoin environment.
Dogecoin Owner perspective
On Saturday, Dogecoin inventor Billy Markus, who is not directly associated with the project. He presented his perspective on Dogecoin, which extends beyond the excitement. He also advise programmers to concentrate more on their usability and security. To Markus’ proposal, Musk concurred with a “more currency-like” response. Musk comforted Markus further by stating that he is willing to accept Doge as payment for services other than Tesla and SpaceX merchandise.
Misleading Content of Dogecoin
Deepfake films advocating cryptocurrency fraud have been discovered by bad actors attempting to profit off Musk’s success. Musk recently saw a phone video on the internet in which a fake The deepfake portrayal of Musk was shown in the video teaching a cryptocurrency platform that promised 32% returns on cryptocurrency deposits.