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Musk: Sued for $258 billion over alleged Dogecoin pyramid scheme. SpaceX fires 5 over internal letter criticizing CEO
Posted by: pRICE cUBE
Date: June 16, 2022 05:36PM

NEW YORK, June 16 (Reuters) - Elon Musk was sued for $258 billion on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.

In a complaint filed in federal court in Manhattan, plaintiff Keith Johnson accused Musk, electric car company Tesla Inc (TSLA.O) and space tourism company SpaceX of racketeering for touting Dogecoin and driving up its price, only to then let the price tumble.

"Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading," the complaint said. "Musk used his pedestal as World's Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement."

The complaint also aggregates comments from Warren Buffett, Bill Gates and others questioning the value of cryptocurrency.

SpaceX has fired at least five employees involved in circulating a letter around the company that was critical of CEO Elon Musk, two people familiar with the company told CNBC.
The open letter was circulated and signed by an unknown number of SpaceX employees earlier this week.
Musk is the controlling shareholder of the privately held company, with his trust owning about 78% of SpaceX’s voting shares as of last year.

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Edited 1 time(s). Last edit at 06/17/2022 05:17PM by pRICE cUBE.
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Re: Musk sued for $258 billion over alleged Dogecoin pyramid scheme
Posted by: Carnos Jax
Date: June 16, 2022 07:57PM
As if that lawsuit will go anywhere…..unlike the rest of us, it would be nice for Musk to carefully consider his words when speaking casually, because of how much influence he has, but in no way did he deliberately try to pump and dump or operate a pyramid scheme in regards to Doge coin or any otter crypto.

Whoever’s suing him probably is just but hurt because he FOMO’d in at high prices like an idiot, or got too leveraged, and so is suing anyone that’s a big enough target. What a cry baby, he should stick to index funds. Too many people are greedy and take foolish risks.

Edited 1 time(s). Last edit at 06/16/2022 08:04PM by Carnos Jax.
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Re: Musk sued for $258 billion over alleged Dogecoin pyramid scheme
Posted by: Blankity Blank
Date: June 17, 2022 04:22PM
There is strife in el Mundo de Musk over his antics.

ars technica
”SpaceX has reportedly fired at least five employees who circulated a letter that urged company executives to condemn CEO Elon Musk's public behavior.

SpaceX President Gwynne Shotwell explained the firings in an email to staff, according to a New York Times article. "The letter, solicitations and general process made employees feel uncomfortable, intimidated and bullied, and/or angry because the letter pressured them to sign onto something that did not reflect their views," Shotwell wrote, according to the NYT. "We have too much critical work to accomplish and no need for this kind of overreaching activism…."

… The internal letter drafted by employees was circulated inside SpaceX on Wednesday and revealed in an article by The Verge. The letter said SpaceX executives should "publicly address and condemn Elon's harmful Twitter behavior" and that the company "must swiftly and explicitly separate itself from Elon's personal brand."

The letter called out "recent allegations against our CEO and his public disparagement of the situation," a reference to a Business Insider report last month that SpaceX "paid a flight attendant $250,000 to settle a sexual misconduct claim" against Musk in 2018. Musk denied the allegation, and Shotwell defended him in a company-wide email.”

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As of July 16, 2022, the National Suicide Prevention Lifeline is now available by simply dialing 988. The previous number, 1-800-273-8255, will remain active.

I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.
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