The ongoing legal battle involving Dogecoin has taken an unexpected turn, as investors pursue a staggering $258 billion in damages against Elon Musk and the Dogecoin Foundation. The lawsuit implicates key influencers linked to the popular cryptocurrency, accusing them of promoting positive content on social media in exchange for undisclosed benefits, including royalties based on impressions.
Prominent Figures Named in Lawsuit: Among the accused are Billy Markus, known as Shibetoshi Nakamoto, one of the original creators of Dogecoin, and Mishaboar, a notable member of the DOGE community. Both Markus and Mishaboar have vehemently denied the allegations, expressing their surprise at being implicated in the lawsuit. Markus clarified that he is not affiliated with Elon Musk, has previously voiced negative opinions about Dogecoin, and distanced himself from the Dogecoin Foundation.
i mean these aren’t the crux of any argument related to anything they are alleging – i also generally don’t know why they were included because it doesn’t help the case at all, it’s just kinda crappy to see people’s names dragged into this garbage for no reason
— Shibetoshi Nakamoto (@BillyM2k) September 18, 2023
Mishaboar’s Response: Mishaboar, in a public statement, expressed frustration at being labeled as a Musk supporter. They highlighted instances of critical interactions with Musk on social media, leading to temporary shadowbans on their account. The developer emphatically denied receiving ad revenue from X (formerly Twitter) and reiterated their dedication to educating users about Dogecoin and the broader crypto landscape.
Impact on Dogecoin Community: As the lawsuit continues to develop, its implications for the wider Dogecoin community remain uncertain. The substantial $258 billion in damages being sought raises questions about the validity of such a claim in a legal context.