Elon Musk Requests Dismissal of $258B Dogecoin Lawsuit

Elon Musk and Tesla have asked a US judge to dismiss a $258bn racketeering lawsuit accusing Musk of running a pyramid scheme to support Dogecoin. Lawyers for Musk and Tesla called the lawsuit by Dogecoin investors a "fanciful work of fiction" over Musk's "innocuous and often silly tweets" about Dogecoin. The investors accused Musk of deliberately driving up Dogecoin's price more than 36,000% over two years and then letting it crash, generating billions of dollars of profit at other Dogecoin investors' expense, even as Musk knew the currency lacked intrinsic value.