HomeNewsDOGE Drama Unleashed: Elon Musk Fires Back, Denies Dogecoin Pump-Dump Wallets Ownership,...

DOGE Drama Unleashed: Elon Musk Fires Back, Denies Dogecoin Pump-Dump Wallets Ownership, and Dispels Lawsuit Misconceptions

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  • Elon Musk’s lawyer, Alex Spiro, refutes claims that Musk owns the Dogecoin wallets implicated in a price manipulation lawsuit.
  • Reports misconstrued Spiro’s statement as Musk not owning any Dogecoin, which is not accurate since Musk has publicly acknowledged his crypto holdings.

Fending off recent waves of Fear, Uncertainty, and Doubt (FUD), it has been clarified that Elon Musk, the influential billionaire, does not own the Dogecoin wallets implicated in a class-action lawsuit alleging price manipulation. Several media outlets misinterpreted this information, mistakenly stating that Musk does not own any Dogecoin.

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As the proceedings continue in a multimillion-dollar lawsuit against Musk, his lawyer Alex Spiro revealed a pivotal detail: Musk does not own the Dogecoin wallets suspected of insider trading. The lawsuit accuses Musk of manipulating Dogecoin’s price and illicitly cashing out $95 million during a pump-and-dump scheme.

Musk’s vociferous support for Dogecoin on social media platforms, particularly Twitter, has led to a widespread belief that he owns significant amounts of the cryptocurrency. The lawsuit specifically highlights Dogecoin wallets that allegedly profited from Musk’s tweets from April 3 to April 9, 2023.

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One significant event occurred on April 3, 2023, when Musk replaced Twitter’s famous bird logo with the Dogecoin symbol, a Shiba Inu dog. This incident was followed by a massive 25% surge in Dogecoin’s price in a single day.

In a court session covered by the NY Post, Spiro criticized the plaintiff’s lawyer for presumptuously asserting that the disputed wallets belonged to Musk, which Spiro affirmed was incorrect.

Contrary to misleading reports suggesting Musk does not own any Dogecoin, he has publicly declared his cryptocurrency portfolio, which includes Dogecoin. It’s crucial to note that Musk might possess other Dogecoin wallets not involved in the alleged pump-and-dump scheme.

In an October 2021 tweet, Musk revealed his cryptocurrency holdings, which included Bitcoin, Ethereum, and Dogecoin. This affirmation debunks the misinformation suggesting that Musk does not own any Dogecoin.

As the case progresses, we will continue to provide updates on any discoveries related to Dogecoin wallets potentially associated with Musk.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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