NEW YORK—Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc. called the lawsuit by Dogecoin investors a “fanciful…

NEW YORK—The $258 billion racketeering lawsuit accusing Elon Musk of running a pyramid scheme to support the cryptocurrency Dogecoin has expanded, adding seven new investor plaintiffs and six new defendants including his tunnel construction business Boring Co.. According to an amended complaint filed on Tuesday night in Manhattan federal court, Musk, his electric car company…

Dogecoin prices surged about 8 percent on Tuesday after billionaire CEO Elon Musk reiterated his support for cryptocurrency Dogecoin in a recent interview. Speaking with Bloomberg News Editor-in-Chief John Micklethwait at this year’s Qatar Economic Forum in Doha, Musk explained his reasoning behind his public endorsement of the digital currency. “I intend to personally support…

A Dogecoin investor sued Elon Musk in a class-action lawsuit for $258 billion on June 17 for allegedly running a pyramid scheme to support the cryptocurrency. The plaintiff, Keith Johnson, accused the billionaire CEO of Tesla Inc and SpaceX in a complaint filed in U.S. District Court in Manhattan of using “his pedestal as World’s Richest man…

Australian Commonwealth Bank warned of a fake news article circulating on Meta Platforms, Inc’s Facebook and other social media platforms. The article alleges that the multinational bank has partnered with a trading platform in order to encourage people to invest in cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The country’s top lender further added that it has reported the…

Dogecoin developers will roll out offline DOGE transactions using radio technology combined with SpaceX’s Starlink satellite network. What Happened: In an April 11 blog post from the Dogecoin Foundation, developers Timothy Stebbing and Michi Lumin outlined how “RadioDoge” could enable DOGE transactions for people without internet access. “RadioDoge focuses on using cheap and reliable Radio technology (HF/LoRaWAN) combined with the global Starlink satellite network to enable…

Blockchain security firm PeckShield on Sunday warned that DogeMother, one of the many Dogecoin offshoots, is actually a scam. DogeMother, which has a total supply of 1,000,000 tokens, was once touted as “the most caring” new coin that was “unruggable.” On its official website, it misleadingly claimed that one would be able to buy his or…

It’s becoming relatively more common to encounter businesses accepting Bitcoin or Ethereum for payments. Now memecoins such as Dogecoin and Shiba Inu are being welcomed by businesses. Far from being low-risk companies or smaller businesses, some of the world’s most profitable sectors are showing their love for the emerging trend. IZEA Worldwide Inc., a provider of influencer marketing technology, data and services for brands,…

The price of Dogecoin rose on Tuesday after Elon Musk urged McDonald’s to start accepting the cryptocurrency as a form of payment, stating that he would “eat a happy meal” if the fast food restaurant company does so. “I will eat a happy meal on tv if Mcdonald’s accepts Dogecoin,” the chief executive of Tesla wrote on Twitter on…

Dogecoin co-creator Billy Markus recently joined Benzinga’s “Moon or Bust” to share his story of creating Dogecoin, how he’s involved today and what he thinks of Elon Musk. Early Days Markus got into cryptocurrency due to Bitcoin but quickly pivoted to other easier-to-mine coins like Litecoin and Litecoin clones. He said it took a long time to mine a…