{"id":63025,"date":"2022-06-16T19:36:13","date_gmt":"2022-06-16T16:36:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63025"},"modified":"2025-09-05T21:32:57","modified_gmt":"2025-09-05T18:32:57","slug":"elon-musk-spacex-and-tesla-hit-with-258-billion-lawsuit-over-dogecoin-promotion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-spacex-and-tesla-hit-with-258-billion-lawsuit-over-dogecoin-promotion\/","title":{"rendered":"Elon Musk, SpaceX and Tesla hit with $258 billion lawsuit over Dogecoin promotion"},"content":{"rendered":"<p>American Keith Johnson has accused SpaceX and Tesla, and their head Elon Musk, of promoting the \u201ccryptocurrency pyramid\u201d Dogecoin (DOGE). The plaintiff seeks $258 billion in damages and compensation, according to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-16\/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme\\\">Bloomberg<\/a>.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe defendants falsely and deceptively claim that Dogecoin is a legitimate investment, while the asset has no value,\u201d the complaint filed in Manhattan federal court states.<\/p>\n<\/blockquote>\n<p>According to the agency, Johnson seeks to represent a class of people who lost money trading or investing in DOGE since April 2019.<\/p>\n<p>The plaintiff seeks $86 billion in damages and treble damages amounting to $172 billion. The investor asks that Musk and his companies be barred from promoting Dogecoin, and to declare that trading this cryptocurrency is a \u201cgambling.\u201d<\/p>\n<p>Musk has been actively promoting the meme cryptocurrency. In April 2022, the entrepreneur proposed lowering the price of the Twitter Blue subscription and providing users <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-proposes-paying-for-twitter-blue-with-dogecoin\">the ability to pay for the premium service in DOGE<\/a>.<\/p>\n<p>In January, Tesla <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-says-tesla-begins-selling-merchandise-for-dogecoin\">began selling merchandise for Dogecoin<\/a>. Earlier the company <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-says-tesla-has-begun-selling-electric-cars-for-bitcoin\">sold<\/a> its electric cars for Bitcoin, but later <a href=\"https:\/\/u1f987.com\/en\/news\/tesla-halts-bitcoin-car-sales-and-roils-the-market\">ceased offering this option<\/a>.<\/p>\n<p>Earlier in May, billionaire <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-criticises-dogecoin-co-founder-over-fragment-of-bad-code\">criticized Dogecoin co-founder Jackson Palmer<\/a>. Musk said that the script to combat spam on Twitter, which the developer provided him several years ago, was poorly written.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American Keith Johnson has accused SpaceX and Tesla, and their head Elon Musk, of promoting the \u201ccryptocurrency pyramid\u201d Dogecoin (DOGE). The plaintiff seeks $258 billion in damages and compensation.<\/p>\n","protected":false},"author":1,"featured_media":63026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[99,1217],"class_list":["post-63025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dogecoin","tag-elon-musk"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=63025"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63025\/revisions"}],"predecessor-version":[{"id":63027,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63025\/revisions\/63027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63026"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}