Ethereum

Investors sued Musk and Tesla in June 2022. At the time, Musk faced accusations of manipulating Dogecoin’s price by using his influence through Twitter posts, appearances on “Saturday Night Live,” and other publicity stunts.

Allegedly, he sold Dogecoin during times when his actions, such as changing Twitter’s logo to the Dogecoin Shiba Inu dog, were expected to increase its value. This strategy allegedly allowed him to profit from insider trading.

Further, the lawsuit claimed Musk deliberately manipulated the market through public endorsements and statements about Dogecoin, which misled investors. Also, the suit labeled these actions as “puffery” rather than based on facts.