Elon Musk, SpaceX and Tesla were named as defendants in a class-action lawsuit filed in the Southern District of New York on Thursday related to the cryptocurrency Dogecoin, through which class members have allegedly lost $86 billion since 2019.
Class attorney Evan Spencer alleged that Musk and his companies have engaged in a “crypto pyramid scheme” through Dogecoin, according to the suit, which was surfaced by ALM’s Law.com Radar.
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