CryptoNews: ElonMusk has denied allegations of owning Dogecoin wallets connected to insider trading amid an ongoing class action lawsuit. 🧐
The Lawsuit Against Musk Alleges Manipulative Practices in Pumping the Token's Pricewallets connected to insider trading amid an ongoing class action lawsuit. The lawsuit accuses Musk of participating in a racketeering scheme to support the meme-based cryptocurrency. Court records claim that two wallets associated with Musk sold 1.4 billion Dogecoins, amounting to over $124 million, during a two-day period in April.
Elon Musk, known as the "Dogefather" and "Dogecoin CEO," has been an outspoken supporter of the meme coin, often sharing tweets about it. Dogecoin, initially created as a joke in 2013, has gained significant popularity and market value, currently ranking as the eight largest cryptocurrency with a market capitalization of around $8.7 billion.
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