Elon Musk and Tesla won a $258 billion lawsuit alleging Dogecoin price manipulation. The decision came from the US District Court for the Southern District of New York.
Musk Wins Legal Case
Elon Musk and Tesla won a lawsuit that accused them of manipulating the price of Dogecoin, causing $258 billion in damages. Accusations against Musk were based on his tweets and plans to place a 'literal' Dogecoin on a SpaceX rocket. The judge stated that these were not factual statements and could not be considered reliable investment advice. According to CoinMarketcap, the price of Dogecoin remained relatively unchanged after the lawsuit was dismissed.
X Faces Suspension in Brazil
Elon Musk's platform X faces suspension in Brazil unless a legal representative is appointed in the country. This announcement came after tense exchanges between Musk and Supreme Court Judge Alexandre de Moraes. Musk accused Moraes of enforcing censorship, while Moraes accused X of spreading misinformation.
Ryan Salame Drops Appeal
Former FTX Digital Markets co-CEO Ryan Salame withdrew his petition to vacate his guilty plea. Initially filing a writ to overturn his sentence related to campaign finance violations, Salame decided to withdraw due to pressure from his partner, who also faces charges.
Thus, Elon Musk and Tesla have avoided a major lawsuit, but continue to face challenges internationally. Ongoing issues with Brazil's Supreme Court and Ryan Salame's case highlight the continued legal complexities surrounding these entities.
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