Elon Musk, Tesla Win Dismissal of $258 Billion Dogecoin Lawsuit by Judge Hellerstein

Aug 30, 2024, 12:14 AM

Elon Musk and Tesla have successfully won the dismissal of a $258 billion federal lawsuit that accused them of manipulating the cryptocurrency Dogecoin. The lawsuit alleged that Musk and Tesla engaged in insider trading and defrauded investors by hyping Dogecoin, resulting in significant financial losses. The case, described as a "pyramid scheme," was dismissed by U.S. District Judge Alvin Hellerstein, who ruled that the claims of market manipulation were insufficient.