Elon Musk's Key Lawyer Exits Dogecoin Lawsuit.

Elon Musk's Key Lawyer Exits Dogecoin Lawsuit.

By Miles

20 Jun 2023 (about 1 year ago)

2 min read

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Elon Musk's legal team reshuffles as key lawyer exits amid ongoing Dogecoin lawsuit.

A key lawyer from the team handling Elon Musk's Dogecoin lawsuit, Adam Gabor Mehes, has decided to leave the case. This happened just after a new lawyer, Allison Huebert, joined the team.

Elon Musk, the boss of Tesla, is involved in a court case. He's been accused of playing around with the market of Dogecoin, a famous digital money. Musk often talked about this coin on Twitter, and his posts usually changed the coin's price. People accused Musk of deliberately increasing and then lowering the coin's value to make money.

In this case, where a lot of money ($258 billion) is involved, Musk is accused of making $95 million from this alleged plan. The case says that Musk purposefully used his tweets for his own benefit. It points out that some Dogecoin accounts, which Musk allegedly controls, were involved in specific transactions. Evidence of this manipulation includes Musk's choice to change Twitter's logo to the Dogecoin Shiba Inu logo for a while, causing a 30% rise in Dogecoin's price.

The case also mentions Musk's guest appearance on the TV program "Saturday Night Live" in 2021. It suggests that Musk used this appearance to increase Dogecoin's price. After Musk confirmed his appearance on the show and asked for comedy sketch ideas about Dogecoin, the coin's price rose by 10%.

Alex Spiro, Musk's lawyer, defended him against these accusations. Spiro criticized Evan Spencer, the lawyer suing Musk, for saying without proof that certain Dogecoin accounts making money belonged to Musk. Spencer connected one account to Musk because of a tweet from February 2021. In this tweet, Musk talked about buying 28.061971 Dogecoin - the numbers match Musk's birthdate (June 28, 1971).

Reacting to this legal fight, Spencer promised to take the case to court. He expressed strong confidence in winning the case.

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