Elon’s Dogecoin Pump and Dump Lawsuit Dismissed (Even Though He Actually Did It) – Daily Stormer

Posted on by Vaseline

Look, I don’t even think pump and dumps should be illegal. I don’t think it’s possible to legislate against something like that.

But as far as pump and dumps are illegal, Elon certainly did that with Dogecoin. He purposely drove the price up using hype and then sold it for a profit.

But… it’s probably hard to prove he did it on purpose.

Reuters:

Elon Musk and his electric car company Tesla have won the dismissal of a federal lawsuit accusing them of defrauding investors by promoting the cryptocurrency dogecoin and engaging in insider trading, resulting in billions of dollars in losses.

The decision was made Thursday evening by U.S. District Judge Alvin Hellerstein in Manhattan.

Investors accused the world’s richest person of using Twitter posts, a 2021 appearance on NBC’s “Saturday Night Live” and other publicity stunts to make profitable trades at their expense through various dogecoin wallets controlled by him or Tesla.

They also said that Musk intentionally drove up the price of dogecoin by over 36,000% over two years and then crashed it. He and Tesla often based their trades on Musk’s public statements and activities regarding dogecoin.

Investors said this was also the case when Musk sold dogecoin in April 2023 after replacing Twitter’s blue bird logo with the dogecoin dog logo of the Shiba Inu, causing the price of dogecoin to rise by 30%..

However, Hellerstein said Musk’s tweets that dogecoin was the future currency of the Earth, and could be used to buy Teslas or literally be flown to the moon by his company SpaceX, were “aspirational and inflated, not factual and susceptible to falsification.”

The judge said this meant that no reasonable investor could rely on the tweets to bring a securities fraud claim. He also said it was “not possible to understand” the investors’ claims of market manipulation and insider trading.

Hellerstein dismissed the lawsuit with prejudice, meaning it cannot be refiled. Investors originally sought $258 billion and had amended their complaint four times in two years.

Yes. Suing Musk was just another scam by shady crypto people.

No one has really been scammed. Crypto is basically a big mess of different scams. Everyone is scamming each other. That’s the whole concept. It’s like a corrupt mafia card game.

The only crypto with any real value is Bitcoin. What Elon will say is that he had a plan to make Dogecoin the new Bitcoin. Or something like that. But it’s just a worthless shitcoin and everyone should have known that.

It goes without saying that many people made a lot of money from Elon and his scam.

Someone has to lose the money.

I am against Elon for a lot of reasons, but the most notable is that he banned me from the platform for masturbating. However, I do not blame him for running crypto pump and dump scams.

That’s the nature of the game, boy.

Don’t hate the player.

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Vaseline https://newspowergreen.biz.id

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