Tesla’s Elon Musk Denies Dogecoin Whale Allegations, Attorney Challenges Wallet Associations

According to a caller missive viewed by the press, Elon Musk denies being a dogecoin (DOGE) whale successful the suit that accuses the Tesla enforcement of engaging successful pump-and-dump activities with the meme coin token, which allegedly harmed retail investors. Musk’s attorney, Alex Spiro, stated successful a written connection to the plaintiff’s lawyer that the assertion of Musk owning circumstantial wallets is “without basis” and helium firmly asserts the plaintiffs “are wrong.”

Musk’s Lawyer Claims Plaintiffs Are Wrong to Tether the Tesla Exec to Dogecoin Whale Wallets

In aboriginal June 2023, Elon Musk of Tesla faced new allegations of insider trading successful a suit that accuses him of engaging successful pump-and-dump activities with dogecoin (DOGE). The lawyers representing the plaintiffs assertion that Musk’s change of the Twitter logo from the bluish vertebrate to the Dogecoin logo was a portion of his purported scheme. Nevertheless, the New York Post has obtained a letter from Musk’s attorney, Alex Spiro, which argues that Musk is not the alleged DOGE whale that the accusers are portraying him to be.

“You specifically allege, without basis, that the pursuing wallets ‘belong’ to defendants,” Spiro’s missive to the plaintiff’s lawyer Evan Spencer. “You are wrong. The sole ground for your assertion is that these wallets sold dogecoin astatine a clip when, according to the 3rd amended complaint, prices were up,” Spiro’s missive adds.

In April, Musk’s ineligible squad sought to person the lawsuit dismissed, contending that determination was nary wrongdoing successful tweeting astir a morganatic currency. The plaintiffs, who filed the lawsuit successful June 2022, support that Musk is progressive successful a “crypto pyramid scheme” with DOGE. The archetypal ailment alleges that the “plaintiffs and the people person mislaid astir $86 cardinal successful this crypto pyramid scheme.”

Upon reviewing the missive from Musk’s attorney, the New York Post quoted the plaintiff’s lawyer, Spencer. In a connection provided to the Post, Spencer remarked, “This lawsuit volition beryllium fought successful court, not the media. “The plaintiffs and I are much assured than ever that the lawsuit volition beryllium successful.”

What are your thoughts connected the allegations against Elon Musk successful the dogecoin lawsuit? Share your thoughts and opinions astir this taxable successful the comments conception below.