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🌙 Elon Musk Cleared in Dogecoin Lawsuit Victory

Elon Musk has been cleared of allegations in a class action lawsuit claiming his tweets about Dogecoin caused financial losses, with the court finding insufficient evidence to support the claims.

Author

Mike Gavela
August 30, 2024

Crypto Roundup - August 30

Elon Musk has been cleared in a class action lawsuit alleging that his tweets promoting Dogecoin constituted market manipulation, causing significant financial losses to investors. The court ruled in favor of Musk, finding no sufficient evidence to support the claims. On the market side, Bitcoin is facing increased sell pressure as September 2024 begins, largely driven by macroeconomic uncertainties, including concerns over inflation and regulatory scrutiny. This sell pressure is compounded by the fact that Bitcoin ETFs have recorded their third consecutive day of net outflows, a trend indicating that institutional investors are adopting a more cautious stance. These developments underscore the ongoing volatility and challenges within the cryptocurrency market, both from a legal and financial perspective.

Top Stories

  • Elon Musk cleared in Dogecoin class action lawsuit, avoiding potential financial liabilities.

  • Bitcoin faces increased sell pressure as September begins, driven by macroeconomic uncertainties.

  • Bitcoin ETFs record third day of net outflows, signaling a cautious approach by institutional investors.

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TOP STORIES

Elon Musk cleared in Dogecoin class action lawsuit

Elon Musk and Tesla won the dismissal of a class action lawsuit, which alleged Musk’s comments manipulated the Dogecoin market.

www.theblock.co/post/313881/elon-musk-cleared-in-dogecoin-class-action-lawsuit

Mt. Gox and US gov’t could introduce $15B Bitcoin selling pressure

Over $14 billion worth of Bitcoin selling pressure could flood the market from Mt. Gox and the US government.

cointelegraph.com/news/bitcoin-sell-pressure-september-2024

Bitcoin Drops as ETFs Record Third Day of Net Outflows - "The Defiant"

Spot Bitcoin ETFs recorded $71.8 million in net outflows on Thursday.

thedefiant.io/news/markets/bitcoin-drops-as-etfs-record-third-day-of-net-outflows

FUNDRAISING

OTHER HEADLINES

Zero-day vulnerability in Chrome exploited by North Korean hackers

Microsoft cybersecurity researchers identified a zero-day vulnerability in the Chromium engine exploited by North Korean hackers. The vulnerability has been patched, so user should update their browsers.

cointelegraph.com/news/chromium-zero-day-exploited-north-korean-hackers

Franklin Templeton sees ‘vanilla’ tokenisation funds matching $171bn stablecoin boom

Unlike stablecoins, tokenised money market funds allow investors to earn a yield on a cash-like product.

www.dlnews.com/articles/markets/franklin-templeton-money-fund-competes-against-stablecoins

Russia To Use Crypto Payments to Bypass Sanctions on Bankless

Russia legalizes cross-border crypto payments to avoid sanctions, but experts are skeptical about its effectiveness amid blockchain traceability.

www.bankless.com/putin-russia-cross-border-crypto

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