Elon Musk, the CEO of Tesla, has been sued for $258 billion for allegedly conducting a pyramid scheme to promote Dogecoin, a cryptocurrency that has lately garnered traction among investors. A Dogecoin investor also sued Musk’s firms Tesla and SpaceX in the same case. Musk is the founder and CEO of SpaceX. This comes after Elon Musk said last year that he would take Dogecoin as payment for Tesla automobiles, causing the cryptocurrency to skyrocket in popularity.
Reportedly, Plaintiff Keith Johnson filed a case in federal court in Manhattan accusing Musk, electric vehicle firm Tesla Inc, and space tourism company SpaceX of racketeering for promoting Dogecoin and pushing up its price, only to see it plummet.
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Keith Johnson, who claimed to have lost money…
