In the crypto business, a surprising lawsuit against Tesla CEO and Dogefather Elon Musk appeared only yesterday amongst the slew of high-profile cases that have been filed in the crypto-verse. Musk was sued for $258 billion for allegedly running a Dogecoin pyramid scheme.
Musk’s interest in Dogecoin goes back a long way. The Tesla CEO has professed interest in the original meme cryptocurrency on several occasions. He even piqued people’s interest by allowing DOGE to be used as a payment method on Tesla. Keith Johnson popped out of nowhere and proceeded to launch a lawsuit accusing Musk of putting together a “crypto pyramid scheme.”
However, Crypto Twitter had a boatload to say. While some speculated that Musk was being singled out for being anti-machine, others indicated that Keith had plenty of time on his hands to take on one of the world’s wealthiest men.
Through his tweets, Billy Markus, aka Shibetoshi Nakamoto, the co-founder of Dogecoin, has kept in touch with Musk. He jumped to DOGE’s defence as well as Musk’s, tweeting,
He further said,
“anyone can sue anyone for anything, doesn’t make it valid.”
Musk was also reassured by the Dogecoin community that he had their support. Following the case, several believed that Musk would increase his support for Dogecoin.
CZ lends a helping hand to Elon Musk
Several people soon accused Elon Musk of tampering with the price of Dogecoin. CZ, on the other hand, tweeted,
In a recent interview, CZ went on to say,
“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.”
In addition, Binance invested $500 million in Elon Musk’s bid for Twitter. Investors are certain to fear now that the acquisition is on hold. CZ, on the other hand, kept his calm and stated that Musk was in charge and Binance was trailing. At the time of writing, Dogecoin (DOGE) was priced at $0.05651 with a usual hike of 0.58% over the last 24 hours.