Elon Musk Seeks Dismissal Of $258M Dogecoin Lawsuit Accusing Him Of Fraudulently Promoting It: ‘Court Should Put A Stop To Plaintiffs’ Fantasy’

While Elon Musk has in the past heavily backed Dogecoin (CRYPTO: DOGE) — a meme cryptocurrency that has a wide appeal — and his tweets and mentions have caused spikes in the coin, his support has landed him in hot waters.  What Happened: Musk’s lawyers have filed a motion in the Manhattan federal court to dismiss a lawsuit that accuses the Tesla CEO of operating a pyramid scheme to prop up Dogecoin, Reuters reported on Friday.