Tesla’s Elon Musk Denies Dogecoin Whale Allegations, Attorney Challenges Wallet Associations

According to a current letter seen by the press, Elon Musk denies being a dogecoin (DOGE) whale within the lawsuit that accuses the Tesla govt of partaking in pump-and-dump actions with the meme coin token, which allegedly harmed retail buyers. Musk’s lawyer, Alex Spiro, acknowledged in a written communication to the plaintiff’s lawyer that the declare of Musk proudly owning particular wallets is “without basis” and he firmly asserts the plaintiffs “are wrong.”

Musk’s Lawyer Claims Plaintiffs Are Wrong to Tether the Tesla Exec to Dogecoin Whale Wallets

In early June 2023, Elon Musk of Tesla confronted new allegations of insider buying and selling in a lawsuit that accuses him of partaking in pump-and-dump actions with dogecoin (DOGE). The legal professionals representing the plaintiffs declare that Musk’s change of the Twitter logo from the blue chicken to the Dogecoin brand was part of his purported scheme. Nevertheless, the New York Post has obtained a letter from Musk’s lawyer, Alex Spiro, which argues that Musk is just not the alleged DOGE whale that the accusers are portraying him to be.

“You specifically allege, without basis, that the following wallets ‘belong’ to defendants,” Spiro’s missive to the plaintiff’s lawyer Evan Spencer. “You are wrong. The sole basis for your claim is that these wallets sold dogecoin at a time when, according to the third amended complaint, prices were up,” Spiro’s letter provides.

In April, Musk’s authorized workforce sought to have the case dismissed, contending that there was no wrongdoing in tweeting a couple of authentic foreign money. The plaintiffs, who filed the case in June 2022, preserve that Musk is concerned in a “crypto pyramid scheme” with DOGE. The preliminary criticism alleges that the “plaintiffs and the category have misplaced roughly $86 billion on this crypto pyramid scheme.”

Upon reviewing the letter from Musk’s lawyer, the New York Post quoted the plaintiff’s lawyer, Spencer. In a press release offered to the Post, Spencer remarked, “This case will be fought in court, not the media. “The plaintiffs and I are more confident than ever that the case will be successful.”

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