Elon Musk is being accused of insider trading in a

proposed class action by investors accusing the

Tesla Inc (TSLA.O) CEO of manipulating the

cryptocurrency Dogecoin, costing them billions of

dollars.

In a Wednesday night filing in Manhattan federal

court, investors said Musk used Twitter posts, paid

online influencers, his 2021 appearance on NBC's

"Saturday Night Live" and other "publicity stunts" to

trade profitably at their expense through several

Dogecoin wallets that he or Tesla controls.

Investors said this included when Musk sold about

$124 million of Dogecoin in April after he replaced

Twitter's blue bird logo with Dogecoin's Shiba Inu

doa logo. leading to a 30% iumD in Doaecoin's once.