Elon Musk was sued for $258 billion

At a time of affectation and the global profitable extremity, it would not have passed to Elon Musk, CEO of Tesla( NASDAQTSLA) and SpaceX, to be asked for compensation equal to nearly all of his wealth, the world's richest.

On Thursday, a cryptocurrency investor filed a action against Elon Musk, demanding$ 258 billion in compensation for deceiving and promoting the use of his person and companies to announce the Dogecoin digital currency and help raise its price, before leaving it to collapse wasting the wealth of investors in it.
The supplicant, Keith Johnson, who entered the action in a civil court in Manhattan called Elon Musk's fraud model the aggregate scheme" Ponzo scheme".

" The defendants had known since 2019 that Dogecoin had no value and yet they promoted it to profit from its trading. Musk used his position as the world's richest man to run Dogecoin and presume on it in a( illegal) aggregate scheme to make gains and entertainment," the complaint said.
Also included in the complaint were commentary from Warren Buffett, Bill Gates and others questioning the value of the digital currency. Tesla, SpaceX and Musk's attorneys didn't incontinently respond to requests for comment.

Johnson's counsel has not yet responded to requests for comment on the specific substantiation his customer has or expects to prove that Dogecoin was empty and that the defendants operated a aggregate scheme in an illegal investment, Reuters reported.
Explanation of the quantum of compensation needed
Johnson is seeking damages of$ 86 billion, which is the quantum of the digital currency's request value drop since May 2021, and wants to triple it.

He also wants to help Musk and his companies from promoting Dogecoin with a judge's protestation that its trading is laying under civil and New York law.

How did the Dogecoin holder help?
Musk has used his digital accounts and media appearances to promote Dogecoin, and has indeed been called the godfather of it. Tesla blazoned in February 2021 that it had bought$1.5 billion in bitcoin and briefly blazoned that it would accept bitcoin payments.
SpaceX also blazoned last time that it would accept payments in Dogecoin for one of its lunar operations. Musk said on Twitter in April 2021 that SpaceX would" literally put Dogecoin on the moon".

Musk's tweets turned this preliminarily obscure digital currency and started as a joke on social media, into a dream for bookmakers. Dogecoin was trading at about5.8 cents on Thursday, down from a peak of 74 cents reached in May 2021.