American businessman Elon Musk was accused of manipulating the Dogecoin cryptocurrency, which he carried out using Twitter. This was reported by The Guardian.
Investors have prepared a lawsuit against the owner of Twitter. They claim that Musk used a number of different means to manipulate the price of Dogecoin.
According to investors, in particular, in April Musk replaced the Twitter logo with the Dogecoin emblem, which caused a 30% jump in the value of this cryptocurrency. After that, Musk sold it for about 124 million dollars.
In addition, the lawsuit states that the businessman engaged in manipulation using paid online influencers, Twitter messages, his appearance on television and other "publicity gimmicks."
According to investors, "market manipulation, insider trading and other tricks" allowed Elon Musk to deceive them for his own benefit.
Twitter shares have tripled since Elon Musk bought it. According to the Bloomberg Billionaires Index, Musk's investment in Twitter is now $8.8 billion.