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NEWSLETTER SIGNUP My account Log Out Jun 19, 1:05 AM EDT Business Technology World National Politics Media & Culture Opinion Sports Social Capital Crypto NEWSLETTER My account Log Out US Edition Business Technology World National Politics Media & Culture Opinion Sports Social Capital Crypto Listings & More Spotlight Glossary Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Elon Musk's Lawyer Refutes FUD Surrounding His Client's Ownership Of Pump-And-Dump DOGE Wallets By Nica Osorio @nicaIBTimes 06/19/23 AT 1:05 AM EDT Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard KEY POINTS Elon Musk is currently fighting a $258 class-action lawsuit The plaintiff claims that Musk has Doge wallets linked to transactions made between April 3 and April 6 The specified period is the time when Musk changed Twitter's logo to that of Dogecoin Tech billionaire Elon Musk , through his lawyer, denied accusations that he owns Dogecoin wallets linked to the ongoing $258 billion class-action lawsuit filed against him for securities fraud and market manipulation relating to the world's first-ever meme coin. Musk's lawyer Alex Spiro blasted allegations thrown against his client by plaintiffs' lawyer Evan Spencer, disputed his assertions and questioned the lawyer's competency as an attorney. "You specifically allege, without basis, that the following wallets 'belong' to Defendants," Spiro said in a letter obtained by The New York Post and told the plaintiffs' lawyer, "You are wrong." Spiro further said, "The sole basis for your claim is that these wallets sold Dogecoin at a time when, according to the Third Amended Complaint, prices were up." The third amendment in the lawsuit linked digital wallets, supposedly owned by Musk and his electric vehicle company Tesla , to transactions made between April 3 and April 6. This was the period when the tech billionaire and Twitter CEO at the time changed the logo of the social media platform from its original blue bird logo to Shiba Inu, the mascot of Dogecoin. The move triggered the price of Dogecoin to surge by 30% $0.07705 to $0.10109 as soon as the logo switch took place. The third amendment also claimed that Musk owned the alleged wallets using the tweet he made on Feb. 21, where he said he "Bought some Dogecoin for lil X, so he can be a toddler hodler." pic.twitter.com/3rWE9uHSTS — Elon Musk (@elonmusk) February 10, 2021 Contrary to the FUD (fears, uncertainties, doubts) making rounds online claiming that Musk does not own any Dogecoin wallet, the tech billionaire said otherwise a few years ago. Aside from what he said in February 2021, the tech billionaire admitted that he got Bitcoin (BTC) Ethereum (ETH and Dogecoin (DOGE) out of curiosity in October 2021. "Out of curiosity, I acquired some ascii hash strings called "Bitcoin, Ethereum & Doge". That's it," Musk said, adding, "As I've said before, don't bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form." Out of curiosity, I acquired some ascii hash strings called “Bitcoin, Ethereum & Doge”. That’s it. As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form. — Elon Musk (@elonmusk) October 24, 2021 Despite Musk's lawyer's response to the lawsuit's third amendment, Spencer told the Post, "This case will be fought in court, not the media," noting that "The Plaintiffs and I are more confident than ever that the case will be successful." DOGE saw a 0.11% loss and was trading in the red zone at $0.06236 over the past 24 hours with a 24-hour trading volume down by 26.94% at $147,824,162.03 as of 9:28 a.m. ET on Sunday, according to the latest data from CoinMarketCap. Reuters Read more DOGE Surges After Elon Musk Mentions The Meme Coin In Cryptic Tweet Elon Musk's Bullish DOGE Moves Used As Evidence In Insider Trading Lawsuit Elon Musk Shills Dogecoin After Jack Dorsey Calls Ethereum A Security Elon musk REGISTER FOR FREE to continue reading ✔️ Unlock the full content of International Business Times UK for free offer available for a limited time only ✔️ Easily manage your Newsletters subscriptions and save your favourite articles ✔️ No payment method required Already have an account? Log in © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Binance.US Admits The Exchange Could've 'Effectively Shuttered' 2 Do Kwon Asks Montenegrin Court To Punish Only Him In Fake Passport Case 3 Do Kwon Remains In Detention While Waiting For Possible South Korea Extradition 4 Dump Incoming? 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