🚀 Musk wins big in $258 billion Dogecoin market manipulation case! 🎉
The latest news is that Musk has won a major victory in a $258 billion Dogecoin market manipulation lawsuit. The lawsuit began in 2022, but Musk won a preliminary victory earlier this year.
According to the latest documents from lawyers on both sides, this major lawsuit against the future leader of Dogecoin is about to come to an end. The plaintiff withdrew its previous appeal to Judge Hellerstein for a ruling, which was on the side of Tesla CEO in August this year.
Looking back at history, the lawsuit was launched shortly after the end of the bull market in 2021. The lawsuit accused Musk of illegally manipulating the price of Dogecoin, especially his praise of Dogecoin when he appeared on NBC's "Saturday Night Live" and his many tweets about Dogecoin.
These interactions and promotions caused the price of Dogecoin to soar, including a record high of $0.73 before the show aired.
The cause of the incident was that the plaintiff Keith Johnson asked Musk to pay $86 billion in compensation and an additional $172 billion in losses caused by Dogecoin transactions since 2019.
Finally, at the end of August this year, Musk won the dismissal of the market manipulation case, and the plaintiff's lawyers subsequently appealed. But according to the latest documents, they have withdrawn the appeal.
In response, Musk and Tesla also withdrew the motion for sanctions against the investor's lawyer, saying that it filed a "frivolous" lawsuit for "quick extortion."
It is worth noting that the case can only be officially ended if U.S. District Judge Alvin Hellerstein approves both requests.
In addition, after Trump won the 2024 US presidential election, the price of Dogecoin soared. It may also be because of the relationship between Dogecoin and future leaders that Dogecoin's valuation has more than doubled in a month, soaring to $0.44. But since then, it has lost its appeal and has fallen to around $0.38 as of this writing.
It seems that the story of Musk and Dogecoin continues, let us wait and see what happens next!
