Musk Still Supports Dogecoin After $258B Lawsuit

Musk Still Supports Dogecoin After $258B Lawsuit

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Elon Musk has publicly expressed his continued support for Dogecoin despite a $258 billion category case involving a crypto pyramid scheme (DOGE).

A class-action lawsuit was filed against Elon Musk, the world’s richest man, and his firms, SpaceX and Tesla, over an alleged DOGE Ponzi scheme. The case sought $258 billion in total monetary damages from Musk, as well as a ruling that DOGE trading is considered gambling in the United States.

The lawsuit, on the other hand, did not sit well with the crypto community, with entrepreneurs mocking the move. Musk, too, seems unfazed by the allegations, reiterating his support for the Dogecoin ecosystem in a tweet.

Billy Markus, the creator of Dogecoin, who is no longer involved in the project, presented his vision for Dogecoin, which goes beyond the excitement, advising developers to focus more on its usability and security.

Elon Musk comforted Markus further by stating that he is willing to accept Dogecoin as payment for services other than Tesla and SpaceX merchandise.

Deepfake films advocating cryptocurrency fraud have been discovered by bad actors attempting to profit from Musk’s success.

Musk stumbled seen a phoney video on the internet in which a deepfake was employed to imitate the entrepreneur during a TED Talk. The deepfake version of Musk was seen in the video touting a cryptocurrency platform that promised 30% returns on cryptocurrency deposits.

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Shiba Inu developers have announced a community vote for ‘BONE,’ the Shiba Inu ecosystem’s governance token. BONE (Bone ShibaSwap) is planned to become the Shibarium Protocol’s gas. Any and all operations, such as transaction validation, will need to be performed on Shibarium. The certification and verification process is, unsurprisingly, the focus of the official blog post’s discussion.

Shiba Inu’s creators also addressed the essential issue of validators. Every transmission that passes over the network must be authenticated in order for Shibarium to remain stable.

Users of the ShibaSwap platform will be able to farm and hold $BONE; however, the SHIB creators have not said when this will be possible. The Shiba Inu developers stated emphatically that they would try to automate and improve the reward system.

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