Dogecoin Lawsuit Dismissed, Community Relieved

In a significant development, the $248 billion class-action lawsuit against Tesla CEO Elon Musk over his alleged misleading statements about Dogecoin has been dropped.

The plaintiffs accused Musk of causing substantial financial losses to investors due to price fluctuations following his appearances on shows like Saturday Night Live and his use of the Doge mascot on Twitter.

Lawyers for both Musk and the investors informed a Manhattan federal judge that they wanted to end the case. This decision includes withdrawing any pending motions and appeals.

Relief for Dogecoin Community

The Dogecoin Foundation, which has supported core developers, founders, and community members throughout the legal battle, expressed relief over the dismissal. The Foundation had successfully advocated for the removal of these individuals from the lawsuit.

In a statement, the Foundation highlighted the burden that the lawsuit had placed on the Dogecoin community.

Musk's Continued Support

Elon Musk, a known supporter of Dogecoin, remains one of its most influential advocates. The Dogecoin Foundation is now focusing on further advancements for the cryptocurrency.

Dogebox in Development

In a tweet, the Dogecoin Foundation announced its work on Dogebox, a solution that will streamline node operation, payment acceptance, and application development for Dogecoin.