Billionaire Elon Musk and his electric vehicle firm Tesla were cleared Friday in a $258 billion Dogecoin class action lawsuit.
The lawsuit, filed in 2022, alleged that Musk's comments on Twitter, now known as X and owned by Musk, manipulated Dogecoin's price and harmed cryptocurrency investors.
The investors claimed that Musk’s statements, including that Dogecoin might be his favorite currency, the people's crypto, and the future currency of Earth, were misleading.
They also cited claims that Dogecoin might become the standard for the global financial system and the currency of the internet, while Musk put a literal Dogecoin in SpaceX and fly it to the moon and that Dogecoin would pay for the mission, and Tesla vehicles could be bought with Dogecoin, according to the court documents.
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