Elon Musk’s attorney, Alex Spiro, has stated that the claim that he owns a Dogecoin whale wallet is “unfounded” and that the plaintiffs have made false claims. In a written exchange with the plaintiff’s attorney, Mr. Spiro asserted that Musk is not the Dogecoin whale that the plaintiffs allege.
The latest allegations against Elon Musk involve engaging in insider trading and pump-and-dump activity with Dogecoin. Lawyers representing the plaintiffs argued that Musk’s change of the Twitter logo to the Dogecoin logo was part of a purported scheme. However, Musk’s attorney argued that there was no basis to accuse him of being a Dogecoin whale as the plaintiffs have claimed.
Earlier, Elon Musk’s legal team tried to dismiss the lawsuit, arguing that he did not commit any wrongdoing by tweeting about a legal currency. The plaintiffs have claimed that Musk is involved in a “cryptocurrency pyramid scheme” with Dogecoin, and allege that they lost billions of dollars in the scheme.