Elon Musk is accused of insider trading and deliberately manipulating the value of the meme coin #Dogecoin . Investors say the billionaire's actions cost them millions of dollars.
In a statement filed in Manhattan federal court on the evening of May 31, the investors noted that Elon Musk, one of the richest people in the world according to Forbes magazine, deliberately inflated the price of Dogecoin by more than 36,000% over two years and then provoked it collapse Reuters writes about this with reference to court documents.
