Attorneys for Elon Musk contended firstly of the week that the prolonged authorized feud between the billionaire and a faction of dissatisfied Dogecoin backers has endured excessively.
In a submission to a federal court docket in New York, Musk’s authorized workforce formally requested the elimination of the plaintiff’s revised grievance.
Echoing this movement, Alex Shapiro, the lawyer representing Elon Musk, vehemently criticized the newest grievance put forth by the Dogecoin buyers, characterizing it as a working example of “abusive and belligerent litigation ways” employed by the opposing facet.
“Sufficient is sufficient,” Shapiro wrote. “This motion is yet one more instance of counsel’s abusive and belligerent litigation ways.”
Elon Musk Faces Lawsuit Over Dogecoin
The authorized battle, which was initially launched final June with a requirement for a whopping $258 billion in restitution, alleges that Musk engaged in a calculated sequence of actions akin to showmanship, market manipulation, and insider buying and selling inside the area of one in all cryptocurrency’s most iconic meme cash.
For context, Dogecoin skilled a fast surge in worth in 2021 previous to Musk’s look on NBC’s “Saturday Night time Stay.” Nonetheless, the cryptocurrency’s worth plummeted after Musk referred to it as a mere scheme in the course of the comedic present.
Nonetheless, his authorized workforce contends that any constructive remarks he has made about Dogecoin through the years are merely enthusiastic expressions and don’t warrant authorized motion.
DOGE market cap presently at $10.6 billion. Chart: TradingView.com
In a latest authorized movement submitted on Monday, Musk’s authorized representatives asserted that expressing assist for a cryptocurrency or sharing humorous pictures associated to it’s totally lawful. The movement ridiculed the amended grievance, labeling it as “fanciful, meandering, and infrequently incomprehensible.”
The attorneys of Elon Musk additional emphasised that the claims offered within the lawsuit lack credibility due to their reliance on transactions involving Dogecoin from digital wallets that can not be verifiably linked to Musk or his firm, Tesla.
Elon Musk’s Enthusiasm For The Meme Coin
All through the years, Musk’s unwavering assist for Dogecoin has been extensively recorded, commencing together with his inaugural tweet in April 2019, the place he proclaimed that Dogecoin may simply be his most popular cryptocurrency.
Subsequent to his acquisition of Twitter, Musk’s backing for Dogecoin has garnered much more traction. One significantly well-publicized occasion of this fervor unfolded round April Fools Day, throughout which Twitter playfully substituted its emblem with Dogecoin’s Shiba Inu mascot, making a buzz across the cryptocurrency.
From his preliminary tweet in 2019 to the Twitter brand swap in 2023, Musk’s interactions with Dogecoin have remained an enchanting facet of the cryptocurrency’s journey.
Featured picture from California Enterprise Journal