Elon Musk Denies Ownership of Crypto Wallets in Dogecoin Lawsuit, Challenging Allegations of Manipulation

Tesla CEO and billionaire entrepreneur Elon Musk finds himself entangled in a legal battle over allegations of manipulating the value

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Tesla CEO and billionaire entrepreneur Elon Musk finds himself entangled in a legal battle over allegations of manipulating the value of Dogecoin, a digital currency he has openly endorsed. In a recent development, Musk denied owning the crypto wallets alleged to have been used for questionable Dogecoin trades, as stated in a letter reviewed by The Post. This denial comes in response to an amended complaint filed on June 7, which accuses Musk of participating in a pump-and-dump scheme involving $95 million worth of Dogecoins. As the legal saga unfolds, tensions rise, with Musk’s lawyer disputing the assertions made against his client and questioning the competency of the opposing counsel.

Elon Musk

Challenging Allegations

Musk’s lawyer, Alex Spiro, responded strongly to the amended complaint, asserting that his client does not own the digital wallets linked to the alleged transactions. In the June 9 letter obtained by The Post, Spiro refutes the claims made by plaintiff’s lawyer Evan Spencer and dismisses the notion that the wallets in question belong to Musk or Tesla. The denial highlights Musk’s stance that he had no involvement in any illicit trading practices related to Dogecoin.

The Link Between Wallets and Logo Change

The amended filing in the case connects digital wallets, supposedly owned by Musk and Tesla, to transactions occurring during the period when Musk’s Twitter account temporarily replaced the platform’s blue bird logo with the Dogecoin Shiba Inu symbol. The filing suggests a correlation between this logo switch and a subsequent 30% surge in the value of Dogecoin. However, Musk’s denial challenges the connection drawn between the wallets and the logo change, emphasizing that the allegations are unfounded.

A Contentious Exchange

The legal dispute surrounding Musk’s involvement in the alleged manipulation of Dogecoin has led to a contentious exchange between the parties involved. In his letter, Spiro directly challenges Spencer’s competence as an attorney, questioning the basis of his assertions regarding wallet ownership. This exchange underscores the intensity of the legal battle and the gravity of the accusations leveled against Musk.

Maintaining Innocence

Elon Musk has consistently denied any wrongdoing in relation to his involvement with Dogecoin. While his public support for the digital currency has been well-documented, he refutes the claims of engaging in manipulative trading practices. As the lawsuit progresses, Musk and his legal team are determined to defend his innocence and disprove the allegations brought against him.

Elon Musk’s denial of owning the crypto wallets linked to alleged dodgy Dogecoin trades adds a new layer of complexity to the ongoing legal battle. As accusations of manipulation continue to surface, Musk remains resolute in maintaining his innocence. The clash between legal counsels intensifies, underscoring the significance of the case and the potential ramifications for Musk’s reputation. The outcome of this lawsuit will not only impact the billionaire entrepreneur but could also have broader implications for the future of digital currencies and the regulatory environment surrounding them.