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Sunday, October 1, 2023

Elon Musk Supports Dogecoin

Elon Musk is one of the biggest names in the world. He is one of the richest people in the world. However, Musk has been involved in a huge controversy recently. Allegations have been brought in against Musk’s companies. Both of his million-dollar companies, Tesla and SpaceX have been accused of committing a pyramid scheme in the crypto market. A class action allegation was lodged in the New York district court. The allegation stated that the companies ran a Ponzi scheme that involved DOGE. The lawsuit asked Musk and his companies for a monetary compensation amounting to $258 billion.

The lawsuit has also made an appeal to the court requesting them to ban Dogecoin. It also asked the court to term Dogecoin as gambling in the United States of America. All these controversies have been plaguing Musk for the last few days. However, Elon Musk does not seem to be bothered about any of the allegations brought against him or the company. Musk has recently posted on Twitter, his support for Dogecoin. He stated that the lawsuit was baseless and lacked strong evidence. Let us learn more about the story in detail below. 

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Elon Musk Continues Public Display Of Dogecoin Affection

Elon Musk has publicly extended his support for Dogecoin. The $258billion lawsuit did not seem to have shaken the billionaire. Most crypto investors and experts have also stated the fact that the lawsuit was ridiculous. Most of them made fun of the suit. Most of the entrepreneurs did not seem to pay heed to the allegations. 

Elon Musk had a discussion with Billy Markus as well. Markus created the cryptocurrency Dogecoin. Elon assured Markus that he will continue to support and invest in Dogecoin. 

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