Elon Musk has asked a U.S. judge to dismiss the $258 billion lawsuit filed against him by dogecoin investors. crypto cryptocurrency $DOGE
, Johnson et al v. Musk et al, filed in the U.S. District Court for the Southern District of New York, alleges that Musk and his companies, Tesla and Spacex, “falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.”
Musk’s legal team also disputed the DOGE investors’ assertion that dogecoin met the criteria to be classified as a security. While the chairman of the U.S. Securities and Exchange Commission , Gary Gensler, has said in a few interviews that, except bitcoin, are securities, many people have argued that his opinion is not the law.
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