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Attorneys for Elon Musk contended at the beginning of the week that the prolonged authorized feud between the billionaire and a faction of dissatisfied Dogecoin backers has continued excessively.
In a submission to a federal court docket in New York, Musk’s authorized group formally requested the elimination of the plaintiff’s revised grievance.
Echoing this movement, Alex Shapiro, the lawyer representing Elon Musk, vehemently criticized the latest grievance put forth by the Dogecoin buyers, characterizing it as a living proof of “abusive and belligerent litigation techniques” employed by the opposing aspect.
“Sufficient is sufficient,” Shapiro wrote. “This motion is yet one more instance of counsel’s abusive and belligerent litigation techniques.”
Elon Musk Faces Lawsuit Over Dogecoin
The authorized battle, which was initially launched final June with a requirement for a whopping $258 billion in restitution, alleges that Musk engaged in a calculated collection of actions akin to showmanship, market manipulation, and insider buying and selling inside the area of one among cryptocurrency’s most iconic meme cash.
For context, Dogecoin skilled a fast surge in worth in 2021 previous to Musk’s look on NBC’s “Saturday Night time Dwell.” Nonetheless, the cryptocurrency’s worth plummeted after Musk referred to it as a mere scheme in the course of the comedic present.
Nonetheless, his authorized group contends that any constructive remarks he has made about Dogecoin through the years are merely enthusiastic expressions and don’t warrant authorized motion.
DOGE market cap at the moment at $10.6 billion. Chart: TradingView.com
In a current authorized movement submitted on Monday, Musk’s authorized representatives asserted that expressing assist for a cryptocurrency or sharing humorous photographs associated to it’s totally lawful. The movement ridiculed the amended grievance, labeling it as “fanciful, meandering, and infrequently incomprehensible.”
The legal professionals of Elon Musk additional emphasised that the claims introduced within the lawsuit lack credibility due to their reliance on transactions involving Dogecoin from digital wallets that can not be verifiably linked to Musk or his firm, Tesla.
Elon Musk’s Enthusiasm For The Meme Coin
All through the years, Musk’s unwavering assist for Dogecoin has been extensively recorded, commencing together with his inaugural tweet in April 2019, the place he proclaimed that Dogecoin may simply be his most popular cryptocurrency.
Subsequent to his acquisition of Twitter, Musk’s backing for Dogecoin has garnered much more traction. One significantly well-publicized occasion of this fervor unfolded round April Fools Day, throughout which Twitter playfully substituted its emblem with Dogecoin’s Shiba Inu mascot, making a buzz across the cryptocurrency.
From his preliminary tweet in 2019 to the Twitter brand change in 2023, Musk’s interactions with Dogecoin have remained an enchanting facet of the cryptocurrency’s journey.
Featured picture from California Enterprise Journal
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