{"id":464218,"date":"2022-06-17T08:45:10","date_gmt":"2022-06-17T05:45:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit\/"},"modified":"2022-06-17T08:45:10","modified_gmt":"2022-06-17T05:45:10","slug":"elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit\/","title":{"rendered":"# Elon Musk gets hit with \u2018ridiculous\u2019 $258B Dogecoin lawsuit"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a407e3282728\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a407e3282728\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit\/#%E2%80%9D_Elon_Musk_gets_hit_with_%E2%80%98ridiculous_258B_Dogecoin_lawsuit_%E2%80%9C\" >&#8221; Elon Musk gets hit with \u2018ridiculous\u2019 $258B Dogecoin lawsuit  &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit\/#Community_reacts\" >Community reacts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Elon_Musk_gets_hit_with_%E2%80%98ridiculous_258B_Dogecoin_lawsuit_%E2%80%9C\"><\/span>&#8221; Elon Musk gets hit with \u2018ridiculous\u2019 $258B Dogecoin lawsuit  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYTIzOTM2MWItMzM2My00YjRhLWI5MmUtYmRiNGQ1ZGJkZGJlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Billionaire Elon Musk, along with his companies SpaceX and Tesla Inc, are all being sued for an astonishing $258 billion in damages for being \u201cengaged in a crypto pyramid scheme\u201d involving Dogecoin (DOGE).<\/p>\n<p>The damages sought are more than 34 times Dogecoin\u2019s current market cap of $7.5 billion and nearly three times its ATH market cap of $88.68 billion in mid-2021. <\/p>\n<p>Filed in the New York District <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/assets2.pacermonitor.com\/filings\/Johnson_v_Musk_et_al\/Johnson_v_Musk_et_al__nysdce-22-05037__0001.0.pdf?X-Amz-Security-Token=IQoJb3JpZ2luX2VjELn%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCXVzLWVhc3QtMSJHMEUCICe8v9QbE5ucxkNw%2F4uIyKQkjJprelAClmtWXaGaR63yAiEAmtTds26Or20TjflZQuFt8E5KHvARjGVAJVpAzkBd4iYq3AQIwv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARADGgw5MjQ2NTE0MDgzOTgiDHdleGUYt3IzNA4WxCqwBMxc7LYGv%2F3FmkzepvB1iEhKy4WrV60iR%2BC6sgRWd7KRvpeKutlBGRhY%2BSpmfSN2P5eTxK1sprMAOk4RMJbwXMB2IwFCatBro0IJPS26eMo3TpqDLwCVQAfqVqTxlvqdgOv%2Fvesj6yET6XWuPEY08iW2ZbF%2F9fqXXy3ujKokd2%2BOMPORrbBGZ3wYx5E1Ux7GsuU7a55EJfmihcgkf22mcb2yW%2F25nolZn26PATe1SVfwfc%2BJPOFpch%2BpIDZDINfzNgnYW%2BNc60KcB%2FWBluXiuINNUw%2FqBPcx4FgwyAyTTt0%2BbPFpQnYc%2FzQ9XDwgOOge%2FK8mT3q3svyKADAW4LOmGnjxCMshOnxLrcWVA5pdQT6Xp1V56%2Br%2BSXD986u3EHnCTGoTiIP311bCYq1o4pcpjdcrCZE%2F%2F3rtF%2FehTr%2By3Iy9%2FdH3Dbp4RUl7%2BP16eOQvUeCCEukWX8M9OgFLYcvrdsAox1l%2Fw%2FUQ3dfLYpia7fVObcoo%2FRUN8ak85FMqBkgyKGB7mfCqDLM6vU%2Bw5Hianz3hWo9WuCcTEvKsqv%2FY6L0rIAC1uFw%2FC%2F4%2F%2Bs3qDpJhu%2BnvZGCCGv9%2FVPfjwvAI9XcQ6%2Bc2TC7kx5%2BPm7PyY0SKBM5C4a6JTMPcKog44sq9HTTeMawq1fBvsbBITYxKmjxRuE4rFCn2seFta5Elc54qv1Y0X5P0oQkjOESiNWyArByjoh4KLwtS9xiAA9Uh5Av0sFrFeGm5LKvXQaQz5YXAMOG6rZUGOqkB0oSanITZYUmLZlbgCjFCckfK8%2FTGfAR1DMznAy%2FFM1HNAh9Bi6glBFifnM68QF9sBoXrOZOICHPvTnPyEPQjClub0Bg1Fj9%2BH%2FL3rYsdeci303GLJtGoeuG5dMfIQI9hzTVw7qOi81%2FF68mt0OeLODNJNcw2j1nyQmb8%2FfWKut0BOzkDDZIchN9jIbI3ViOdimrq960jFJj7YVWSOD%2FrDKyHANsocddz9A%3D%3D&amp;X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Date=20220616T172931Z&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Expires=599&amp;X-Amz-Credential=ASIA5OSMEZQHHGKLHKVM%2F20220616%2Fus-east-1%2Fs3%2Faws4_request&amp;X-Amz-Signature=e89dbab48532f1335e571cea705859ffa86dd08c2139a572d86c7cdbfb8c62c4\">Court<\/a> by an attorney at Evan Spencer Law on Thursday, the class-action lawsuit alleges that Musk \u201cused his pedestal as World\u2019s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.\u201d<\/p>\n<p>In the filing, plaintiff Keith Johnson, a U.S. citizen, alleges that Musk and his corporations were \u201cunjustly enriched\u201d by $86 billion as a result of wire fraud, gambling enterprise, false advertising, deceptive practices, and other unlawful conduct.<\/p>\n<p>Johnson claims that he and others in the class-action have lost <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $86 billion between May 2021 and June 2022\u00a0 and is demanding that figure in monetary damages along with another $172 billion in damages and fees. <\/p>\n<blockquote><p>Defendant Musk  is the self-appointed \u2018Dogefather,\u2019 \u2018former CEO of Dogecoin,\u2019 partner, developer, spokesperson, publicist, salesman, marketer, and promoter of Dogecoin, who assembled the \u2018Doge Army\u2019 including his corporations and various billionaires, influencers, and celebrities to increase the price, market cap and trading volume of Dogecoin.\u201d<\/p><\/blockquote>\n<p>In January, Musk announced that his electric vehicle company Telsa would accept Dogecoin as payment for the company\u2019s merchandise. In May, he announced that Dogecoin payments would also be accepted by his space exploration company SpaceX. <\/p>\n<p>The lawsuit also demands an order declaring the trading of Dogecoin to be constituted as gambling within New York and federal law, and also alleges that Musk and his companies have violated state and federal gambling laws.<\/p>\n<p>\u201cSince Plaintiff and the class were not advised that the trading of Dogecoin was nothing more than a gambling enterprise, Plaintiff and the class demand the return of all wagers lost trading Dogecoin.\u201d<\/p>\n<p>It also seeks to order Musk and his companies, and any other unlicensed professionals from advertising, marketing, or promoting Dogecoin in the future.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Community_reacts\"><\/span>Community reacts<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The crypto community has ridiculed the lawsuit.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Dogecoin\u2019s parents are fighting: Musk and Jackson Palmer exchange barbs<\/em><\/strong><\/p>\n<p>Dogecoin creator Shibetoshi Nakamoto, a Tweet of whose was cited in the lawsuit as supporting evidence, called the lawsuit \u201cstupid as fuck\u201d on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Thursday, but admitted that crypto trading isn\u2019t much different from gambling. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">i mean dogecoin is the same as everything else, they wanna make all crypto into gambling?<\/p>\n<p>the lawsuit is obviously stupid as fuck, but i don\u2019t think crypto trading is much different than gambling<\/p>\n<p>\u2014 Shibetoshi Nakamoto (@BillyM2k) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BillyM2k\/status\/1537521141434134528?ref_src=twsrc%5Etfw\">June 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Rahul Sood, CEO, and co-founder of Irreverent Labs, which builds blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s called it a \u201cstupid class-action lawsuit\u201d\u00a0<\/p>\n<blockquote><p>\u201cAmazing that in the US someone could launch such a stupid class-action lawsuit. These guys all knew what they were getting into. Ridiculous.&#8221;<\/p><\/blockquote>\n<p>Ron Coleman, a commercial litigator and partner at Dhillon Law Group with 196,000 Twitter followers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RonColeman\/status\/1537579351465553920\">replied<\/a> to a Tweet about the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, noting that \u201canyone can say anything in a lawsuit.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Anyone can say anything in a lawsuit<\/p>\n<p>\u2014 Ron Coleman (@RonColeman) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RonColeman\/status\/1537579351465553920?ref_src=twsrc%5Etfw\">June 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/elon-musk-gets-hit-with-ridiculous-258b-dogecoin-lawsuit\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Elon Musk gets hit with \u2018ridiculous\u2019 $258B Dogecoin lawsuit &#8220; Billionaire Elon Musk, along with his companies SpaceX and Tesla Inc, are all being sued for an astonishing $258 billion in damages for being \u201cengaged in a crypto pyramid scheme\u201d involving Dogecoin (DOGE). The damages sought are more than 34 times Dogecoin\u2019s current market&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYTIzOTM2MWItMzM2My00YjRhLWI5MmUtYmRiNGQ1ZGJkZGJlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[86883,71433,55229,3885,70934],"class_list":["post-464218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-dogecoin","tag-court","tag-law","tag-new-york","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464218"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464219"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}