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News Explorer — Investors Accuse Musk of Market Manipulation and Insider Trading of Dogecoin

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Jun 2, 12:10 pm

Decrypt

Investors Accuse Musk of Market Manipulation and Insider Trading of Dogecoin

In an amending court filing, a group of DOGE investors has accused Elon Musk of engaging in manipulative practices to influence the price of the cryptocurrency, including leveraging his social media presence and public appearances. The complaint also alleges that Musk profited from insider trading of DOGE and caused the price to spike 30%. Musk has sought to dismiss the lawsuit, claiming that there is nothing unlawful about his actions.

In an amending court filing, a group of DOGE investors has accused Elon Musk of engaging in manipulative practices to influence the price of the cryptocurrency, including leveraging his social media presence and public appearances. The complaint also alleges that Musk profited from insider trading of DOGE and caused the price to spike 30%. Musk has sought to dismiss the lawsuit, claiming that there is nothing unlawful about his actions.

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