A storm has once again swept through Elon Musk, the helm and CEO of the technology giant Tesla. This time he is accused of manipulating the value of his publicly supported cryptocurrency, Dogcoin
A storm has once again swept through Elon Musk, the helm and CEO of the technology giant Tesla. This time he is accused of manipulating the value of his publicly supported cryptocurrency, Dogcoin. Investors pointed out that Musk himself or Tesla controlled multiple dog coin wallets used in these trading processes.
A storm has once again swept through Elon Musk, the helm and CEO of the technology giant Tesla. This time he is accused of manipulating the value of his publicly supported cryptocurrency, Dogcoin. Investors pointed out that Musk himself or Tesla controlled multiple dog coin wallets used in these trading processes.
Accuse Musk of selling dog coins for profit
Musk strongly denies possessing an encrypted wallet suspected of involvement in suspicious dog coin transactions. This response stems from a revised complaint submitted on June 7th, accusing Musk of participating in a $95 million dog coin sales and market making plan. In the revised lawsuit submitted to the Manhattan Federal Court on the same day, the plaintiff accused Musk of profiting by selling dog coins worth $95 million.
Investors further pointed out that Musk has adopted a series of strategies, such as Twitter posts, paying internet celebrities, participating in NBC's Saturday Night Live program in 2021, and other eye-catching behaviors to maximize profits. They claim that Musk or Tesla controls multiple dog coin wallets used in these trading processes.
A noteworthy example is that in April, Musk sold approximately $124 million worth of Dogcoin, while at the same time replacing Twitter's Blue Bird logo with Dogcoin's Chaidog logo. This move led to a 30% surge in the price of dog coins. After changing the logo, the price of cryptocurrency jumped from $0.07705 to $0.10109, a 30% increase.
However, Musk's lawyer, Alex Spiro, strongly responded to the plaintiff's lawyer, Evan Spencer, questioning the validity of his claims and questioning Spencer's legal ability.
Musk is caught in a huge controversy vortex
In a letter dated June 9th, Spiro challenged the plaintiff's claim that certain wallets "belonged to" the defendant, stating that the accusation was unfounded and incorrect. The letter states, "Your claim is based solely on the complaint of the third revision, where these wallets were sold in dog currency during the price increase
The revised complaint claims that Musk owns a specific wallet and points out that in a tweet released on February 10, 2021, he mentioned purchasing dog coins worth 28061971. The complaint states that this transaction involves Musk's date of birth (June 28, 1971) and is clearly visible in the wallet.
Faced with such serious accusations, Musk fell into a huge controversy. However, regardless of the outcome of this legal dispute, it once again highlights the uncertainty and risks in the cryptocurrency field. As Tesla's helmsman and public figure, Musk's words and actions undoubtedly have enormous influence, but this also means that he needs to take greater responsibility for his actions.
Elon Musk is also supporting another meme coin recently, as he has taken action to support Wall Street memes (WSM). This notorious entrepreneur recently interacted with WSM accounts on Twitter to express his appreciation for the latest meme coin spectacle. According to some rumors, the self proclaimed governor seems to be fascinated by the WSM project and has become one of the main holders.
Not long ago, Musk's tweet skyrocketed the prices of tokens such as dog coins and firewood, triggering a surge in prices. We may be witnessing this controversial businessman using his enormous influence to influence this new ICOmeme coin as a new success story.
A watched $WSM meme token pre-sale surpasses the $8 million mark
The story of David challenging the giant Goliath in the Bible continues to unfold. In the GameStop incident, some small retail investors joined forces on social media platforms such as Reddit to purchase a large number of shares of GameStop (GME), causing the company's stock price to skyrocket. The incident is seen as a rebellion by small investors against the financial system, proving that greed is indeed very good.
The legend of the heroic WallStreet heroes continues to this day. In order to continue and deepen this capitalist revolutionary movement, WallStreetMemes is cryptomonetizing this online movement and launching the $WSM meme token. Celebrities such as ElonMusk have also forwarded the news of WallStreetMemes, and there will be a total $50000 airdrop competition during the entire pre-sale period.
WallStreetMemes is an online community dedicated to creating and sharing meme graphs that focus on the financial and investment industries, particularly Wall Street related content. The community has attracted a large number of fans through Twitter and Instagram, becoming an important part of online culture.
The cryptocurrency industry has once again sparked a meme craze, and the WallStreetMemes project is exceptionally popular$ WSM tokens have a 100% supply in the WallStreetMemes community, of which 50% are for pre-sale, 30% are for community rewards, 10% are for CEX liquidity, and 10% are for DEX liquidity. Currently, pre-sale has been quite successful, attracting the attention of many encryption industry experts.
Following the gradual rise of memes such as Pepe, Sponge, and Wojak, encryption industry experts have expressed that $WSM will become the next emerging new project. Currently, the pre-sale price of $WSM is only $0.0295, and after the completion of the 30 pre-sale stages, it will rise to $0.0337. Those purchased in the early pre-sale stage will make a stable profit of 30%. After listing, it is expected that the coin will significantly increase to $0.5, with a potential increase of 19 times.
Purchase WallStreetMemes tokens
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