Elon Musk may have secretly financed the development of Dogecoin cryptocurrency

The Wall Street Journal reports: on September 12, the media will publish a biography of X Corp. owner Elon Musk. It mentions that the billionaire secretly financed the development of the Dogecoin project.

«Musk was intrigued and enthusiastic. As a joke, he said that it could be a payment system based on Dogecoin, a frivolous currency whose development he secretly supported,» the quote reads.

It should be noted that last June, a group of investors filed a class action lawsuit against Musk for $ 258 billion. The billionaire was accused of organizing a fraudulent scheme around the DOGE token. In early April of this year, Musk’s lawyers filed a motion to dismiss the case due to lack of evidence. Instead, in May, another lawsuit was filed against the billionaire, in which Musk was accused of insider trading.

The lawyers demanded that this case be dismissed as well, noting that their client «has nothing to do with the token in question» and that his publications, which always led to an increase in the price of the DOGE meme-coin, should be taken as a joke.

Journalist Colin Wu suggests that the data from the WSJ biography of Musk may give impetus to the further development of criminal cases against the businessman. In addition to the connection with Dogecoin, the biography also sheds light on the billionaire’s relationship with the former head of the FTX cryptocurrency exchange Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried. The publication claims that the crypto fraudster was involved in the deal to buy Twitter. The billionaire himself has repeatedly denied this fact.