On Thursday, a New York district court docket obtained a category motion grievance in opposition to the world’s richest man Elon Musk and his firms, SpaceX and Tesla, for an alleged Ponzi scheme utilizing DOGE. The lawsuit demanded $258 billion in complete financial damages from Musk whereas requesting the court docket to rule DOGE buying and selling as playing within the United States.
I’ll preserve supporting Dogecoin
— Elon Musk (@elonmusk) June 19, 2022
The lawsuit, nevertheless, didn’t resonate with the crypto neighborhood as entrepreneurs started to ridicule the transfer. Musk, too, was seemingly unshaken in regards to the allegation as he doubled down on his love for the Dogecoin ecosystem with the above tweet.
On Saturday, Dogecoin creator Billy Markus, who’s not part of the challenge, shared his imaginative and prescient for Dogecoin that goes past the hype — recommending the builders focus extra on its utility and safety. Musk agreed with a “More currency-like” reply to Markus’ suggestion.
Bad actors attempting to money in on Musk’s success have been discovered to be releasing deepfake movies selling cryptocurrency scams.
Yikes. Def not me.
— Elon Musk (@elonmusk) May 25, 2022
Musk got here throughout a fabricated video doing rounds on the web, whereby a deepfake was used to imitate the entrepreneur on a TED Talk. In the video, the deepfake model of Musk was discovered selling a cryptocurrency platform boasting 30% returns on crypto deposits.