Claimants pile into Dogecoin lawsuit against Elon Musk

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City AM

By Louis Goss A $258bn lawsuit accusing Elon Musk of running a “crypto pyramid scheme” to bolster the price of Dogecoin has expanded to include seven new claimants and six defendants, including The Boring Company. The lawsuit, first filed in a New York federal court in June, accuses the world’s richest man of running a ponzi scheme by promoting Dogecoin on the internet. The case argues Dogecoin in itself is “simply a fraud whereby ‘greater fools’ are deceived into buying the coin at a higher price. It accuses Musk of forming a “Doge Army” of influencers, celebrities and his own corporations to…

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