The richest person in the world, Elon Musk, recently replaced Twitter’s logo with the dog, the mascot of Dogecoin.
Musk, who did not make a statement immediately after the event, humorously mentioned this situation in his latest post.
— Elon Musk (@elonmusk) April 3, 2023
In Musk’s post, there is a DOGE who shows the police a driver’s license with a Twitter mascot bird photo on it from inside the vehicle at the driver’s license control and tells the police officer that the license photo in question is an old photo.
In the original image, a butterfly presented a police officer with a driver’s license with a photo of a caterpillar and said it was an old photo of himself.
Musk thus referred to the DOGE mascot as Twitter’s new logo.
Elon Musk is a strong supporter of Dogecoin and has tweeted about it a few more times. However, Musk is accused of running a pyramid scheme to support Dogecoin, with charges such as fraud and gambling. The lawsuit in question is valued at $258 billion.
The lawsuit was filed by a group of Dogecoin investors alleging that Elon Musk manipulated the Dogecoin market by tweeting about Dogecoin and then appearing on Saturday Night Live.
They claim that they do this to profit from price fluctuations and know that Dogecoin has no real value. They are seeking $258 billion in compensation, three times the estimated drop in Dogecoin’s market value since its peak in May 2021.
Elon Musk denied the allegations and asked the judge to dismiss the case. He said his tweets were “harmless and often stupid” and that there was nothing illegal about supporting a legitimate cryptocurrency.
*Not investment advice.
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