Billionaire was named in lawsuit filed last year accusing him of
racketeering over his promotion of Dogecoin
Elon Musk is
now using the design of Twitter itself to make hilarious (?) jokes.
On Monday, without warning, the iconic Twitter bird logo above the
home button on the social network’s web version changed to the “doge” of the
Dogecoin cryptocurrency. (Twitter’s mobile apps weren’t changed.) The Doge
image (of a Shiba Inu) is part of the logo of the Dogecoin blockchain and
cryptocurrency, which was created as a joke in 2013 — to mock other
cryptocurrencies like Bitcoin.
Musk, who bought Twitter last fall in a $44 billion deal, is a
well-known superfan of the Doge meme and he has promoted Dogecoin both on
Twitter and during his appearance last year hosting “Saturday Night Live.”
After the change to Twitter’s web logo Monday, the value of Dogecoin rose
more than 20%.
By way of explaining the Doge logo change
on Twitter, Musk, currently the world’s second-richest individual, posted a
tweet Monday that said, “As promised” — with a screenshot of an exchange he
had in March 2022 with a Twitter user who goes by @WSBChairman.
After Musk tweeted in March 2022, prior to mounting his
eventually successful bid to buy Twitter, “Given that Twitter serves as the
de facto public town square, failing to adhere to free speech principles
fundamentally undermines democracy. What should be done?,” @WSBChairman had
responded, “just buy twitter… and change the bird logo to a doge.” Musk
responded, “Haha that would sickkk.”
What is not meant to
be a joke: In June 2022, Musk was on the receiving end of a lawsuit filed in
the U.S. District Court for the Southern District of New York accusing him
of engaging in racketeering by promoting Dogecoin. Musk’s legal team filed a
motion on Friday, March 31, to have the lawsuit dismissed. The timing of
Twitter’s icon change to the Doge suggests that Musk is trolling the
litigants.
Among other things, the plaintiffs who sued Musk — seeking an
eye-popping $258 billion in damages — pointed to his hosting gig on “SNL,”
where on Weekend Update he portrayed a fake financial expert who called
Dogecoin a “hustle.”
According to the filing by Musk’s lawyers,
the plaintiffs in the case have not shown how Musk’s statements in favor of
Dogecoin defrauded anyone nor have they explained what risks Musk is alleged
to have hidden from investors. “[T]here is nothing unlawful about tweeting
words of support for, or funny pictures about, a legitimate cryptocurrency
that continues to hold a market cap of nearly $10 billion,” the filing said.
“Plaintiffs have had multiple opportunities to adequately plead their
claims, but they are still unable to articulate any actionable theory. This
court should put a stop to plaintiffs’ fantasy and dismiss the
complaint.”
