Earlier in June, investors went to federal court in Manhattan, claiming Elon Musk used his online influence to manipulate the rate of the meme cryptocurrency DOGE. The billionaire wrote tweets and used Influencers to promote Dogecoin, and appeared on NBC Saturday Night Live in 2021, plaintiffs claim. These “publicity stunts” allowed Musk to trade DOGE coins profitably.
In a letter provided to The New York Post reporters, Musk denies all manipulation of DOGE.
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“You are baselessly claiming that the following wallets “belong to” Musk,” said attorney Alex Spiro.
In the lawsuit, the digital wallets allegedly owned by Musk and Tesla are linked to transactions made between April 3 and 6. Just at that time, Musk’s social network, Twitter, changed its bluebird logo to the Dogecoin symbol, the Shiba Inu dog from the meme;
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“The only basis for your claim is that these wallets were selling Dogecoin at the time,” the lawyer’s letter said.
Incidentally, when Musk brought back the former Twitter logo, the value of the Dogecoin cryptocurrency plummeted by as much as 9.5%.