In Manhattan yesterday (6/16/22), a class-action lawsuit was filed against Tesla Inc (NASADAQ: TSLA) CEO Elon Musk, by a man named Keith Johnson. The accusation is that Musk, Tesla, and SpaceX are operating an illegal racketeering enterprise to inflate the price of Dogecoin (CRYPTO: DOGE) most often referred to as a meme coin.
The lawsuit comes at a time when seemingly all markets, crypto included, are taking massive hits. Musk has frequently used his platform to champion the meme coin and bring attention to it. Intentional, Illegal, or otherwise, there certainly seemed to be a direct correlation between the movement and the coin and his tweets.
It begs some interesting questions, Is it illegal to be a crypto influencer? Is it Musk’s fault that he took an interest, found humor, or possibly believed in the real hidden value of a coin that started as a joke? And does his interest make him liable for significant losses suffered by …
