The crypto-verse has been a witness to an array of high-profile lawsuits. Just yesterday, a shocking lawsuit against Tesla CEO and Dogefather Elon Musk surfaced in the crypto industry. Musk was being sued for $258 billion over an alleged Dogecoin pyramid scheme.
Musk’s inclination towards Dogecoin dates way back. The Tesla CEO has time and again expressed interest in the OG meme crypto. He even elevated this interest by adding DOGE to Tesla as a payment option. Keith Johnson appeared out of the blue and went on to file a lawsuit that accused Musk was curated a “crypto pyramid scheme.”
Crypto Twitter, obviously had a lot to say.
While several pointed out that Musk was being targeted for being against the machine, a few others suggested that Keith had a lot of time on his hands to challenge one of the world’s richest men. Billy Markus aka Shibetoshi Nakamoto, the co-founder of Dogecoin has been in constant touch with Musk through his tweets. He instantly came in support of DOGE as well as Musk. He said, “anyone can sue anyone for anything, doesn’t make it valid.”
Furthermore, the Dogecoin community assured Musk that he had their support. Some even speculated that Musk would support Dogecoin even harder following the lawsuit.
Despite this lawsuit, Dogecoin was up by nearly 2 percent over the last couple of hours. At press time, the OG meme crypto was trading for $0.057.
Binance’s CZ backs Elon Musk
Several went on quickly accusing Musk of meddling with Dogecoin’s price. CZ however tweeted,
Additionally, Binance poured in $500 million in support of Elon Musk’s Twitter bid. With everything on hold about the acquisition, investors are bound to panic. CZ, however, maintained his cool and suggested that Musk was leading and Binance was following. Appearing in a recent interview he further said,
“He’s leading, we’re following. If he goes through with the deal, we’re committed. If he doesn’t, then I think we’re off.”