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Elon Musk Seeks End to $258 Billion Dogecoin Lawsuit

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Elon Musk Seeks End to $258 Billion Dogecoin Lawsuit

On Friday, Elon Musk asked a US court to dismiss a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.

Lawyers for Musk and his electric car company Tesla Inc (TSLA.O) filed an evening filing in Manhattan federal court, calling the lawsuit by Dogecoin investors a “fanciful work of fiction” based on Musk’s “innocuous and often silly tweets” about Dogecoin.

According to the lawyers, the investors never explained how Musk intended to defraud anyone or what risks he concealed, and his statements like “Dogecoin Rulz” and “no highs, no lows, only Doge” were too ambiguous to support a fraud claim.

“There is nothing illegal in tweeting words of support for, or funny pictures of, a legitimate cryptocurrency with a market cap of nearly $10 billion,” Musk’s lawyers said. “This court should end plaintiffs’ fantasy and dismiss the complaint.”

The lawyers also rejected the investors’ claim that Dogecoin was security in a footnote.

In an email, Evan Spencer, the investors’ lawyer, stated, “We are more confident than ever that our case will be successful.”

Investors accused Musk, the world’s second-richest person, of deliberately driving up the price of Dogecoin by more than 36,000% over two years and then allowing it to crash.

They claimed that this resulted in billions of dollars of profit at the expense of other Dogecoin investors, despite Musk’s knowledge that the currency lacked intrinsic value.

Investors also pointed to Musk’s appearance on NBC’s “Saturday Night Live”‘s “Weekend Update” segment, where, as a fictitious financial expert, he called Dogecoin “a hustle.”

The $258 billion in damages is three times the estimated decline in Dogecoin’s market value in the 13 months preceding the lawsuit’s filing.

The Dogecoin Foundation, a non-profit, is also a defendant requesting that the lawsuit be dismissed.

Multiple lawsuits have been filed in response to Musk’s tweets on Twitter, which he owns.

On Feb. 3, a San Francisco jury found him not liable for tweeting in August 2018 that he had secured financing to take Tesla private.

China Visit for Elon Musk

Meanwhile, Elon Musk plans a trip to China as early as April and hopes to meet with China’s Premier Li Qiang, according to two people familiar with the trip’s preparations.

According to one of the sources, the exact timing of the visit depends on Li Qiang’s availability.

On Friday, Tesla and China’s State Council Information Office did not respond to requests for comment.

After the United States, China is Tesla’s second-largest market, and its Shanghai plant is the electric carmaker’s largest production hub.

Musk’s trip to China would be his first since the COVID-19 pandemic and Xi Jinping’s election to a third term as China’s president. Before becoming premier in March, Li was Shanghai’s party secretary, overseeing the Tesla factory’s construction and opening.

Musk last visited China in early 2020, when he made headlines by dancing on stage at a factory event in Shanghai. He has, however, continued to give virtual speeches at events such as China’s World Internet Conference.

Li and Musk previously met at the Shanghai plant’s opening in 2019. According to local media, Musk thanked the then-Shanghai party secretary for supporting the plant’s operations during the pandemic’s outbreak in an online meeting in 2020.

Musk’s planned visit also coincides with China’s efforts to entice more foreign investment to help shore up an economy battered by three years of COVID restrictions.

Li has been at the forefront of that effort, speaking at business events attended by Apple Inc’s (AAPL.O) Tim Cook and Pfizer’s (PFE.N) Albert Bourla over the past week.

The sources did not specify what Musk plans to discuss or do in China.

Tesla is dealing with several issues, including delays in its plans to more than double production capacity at its Shanghai plant.

Tesla vehicles have also been barred from Chinese military bases and political gatherings due to concerns about cameras installed on the vehicles, and the company is still waiting for Beijing’s approval to offer full self-driving technology in China.

China is also one of the largest non-US economies. According to Reuters, revenue streams for Twitter, which Musk purchased last year for $44 billion.

According to the sources, Twitter’s China operations have caused internal divisions between teams eager to maximize sales opportunities and others concerned about the optics of doing business with state-affiliated entities at a time of rising tensions between Beijing and Washington.

 

Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

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Dan Rather Synonymous with CBS News Dies at Age 92

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Dan Rather Synonymous with CBS News Dies at Age 92
Dan Rather CBS Evening News

Dan Rather was synonymous with CBS News before the veteran anchorman left in bitterness in 2006, following a discredited report on then-President George W Bush has died at the age of 92.

Dan Rather returned to the CBS News airwaves for the first time since his bitter exit 18 years ago, appearing in a reflective interview on “CBS Sunday Morning” days before the debut of a Netflix documentary on the 92-year-old newsman’s life.

After 44 years at the network, 24 as anchor of the “CBS Evening News,” Rather left under a cloud following a botched investigation into then-President George W. Bush’s military record. Rather signed off as anchor for the last time on March 9, 2005, and exited the network when his contract ended 15 months later.

With continued enmity between him and since-deposed CBS chief Leslie Moonves, Rather essentially became a nonperson at the news division he dominated for decades.

“Without apology or explanation, I miss CBS,” Rather told correspondent Lee Cowan in the interview that aired Sunday. “I’ve missed it since the day I left.”

Dan Rather

Rather questioned Bush’s Vietnam War-era National Guard service: Image Vox

Dan Rather escaped official blame for the report that questioned Bush’s Vietnam War-era National Guard service but, as the anchor who introduced it, was identified with it.

CBS could not vouch for the authenticity of some documents upon which the report was based, although many people involved in the story still believe it was true.

In the documentary “Rather,” debuting Wednesday on Netflix, Rather said he thought he would survive the incident, but his wife, Jean, told him, “You got into a fight with the president of the United States during his reelection campaign. What did you think was going to happen?”

Rather did not retire after leaving CBS, doing investigative journalism and rock star interviews for HDNet, a digital cable and satellite television network. Over the past few years, he has become known to a new generation as a tart-talking presence on social media.

This past week, he posted on X during former President Trump’s hush money trial: “Is it just me or did today seem sleazy even for Donald Trump?”

“You either get engaged and you get engaged in the new terms … or you’re out of the game,” Rather said in the CBS interview, filmed at his home in Texas. “And I wanted to stay in the game.”

The Netflix documentary traces his career from coverage of President John F. Kennedy’s assassination, the Vietnam War and Watergate, through his anchor years and beyond. It includes some of the then tightly-wound Rather’s odder incidents, including an assault in New York City by someone saying, “What’s the frequency, Kenneth,” then later appearing onstage with R.E.M. when the group performed its song of the same name.

In both the documentary and in the CBS interview, Rather bypasses his career when talk turned to his legacy.

“In the end, whatever remains of one’s life — family, friends — those are going to be the things for which you’re remembered,” he said.

Source: The Associated Press

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Dozens In Italy Give A Fascist Salute On The Anniversary Of Mussolini’s Execution

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ROME — During the celebrations on Sunday to commemorate the 79th anniversary of the execution of Italian dictator Benito Mussolini, numerous individuals performed the fascist salute and vocalized a fascist chant.

Clad in black attire, the adherents of neo-fascism paraded around places in northern Italy where Mussolini was apprehended and put to death after World War II. They also marched at Predappio, the birthplace and burial site of Mussolini.

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Dozens In Italy Give A Fascist Salute On The Anniversary Of Mussolini’s Execution

Mussolini was apprehended by anti-fascist partisans in Dongo, located on the shores of Lake Como, on April 27, 1945, while attempting to flee with his lover, Clara Petacci, after the Allied forces liberated Italy.

According to footage captured by the LaPresse news agency, a gathering of neo-fascists paraded through Dongo on Sunday, where they solemnly deposited 15 roses into the lake as a tribute to the deceased ministers and executives of the Mussolini government.

The partisans killed Mussolini and Petacci on the next day in the neighboring lakeside town of Mezzegra-Giulino. Commemorations were also conducted there on Sunday. Following a performance of Taps, the person in charge of the commemorations loudly exclaimed, “Comrade Benito Mussolini,” prompting the crowd to respond with a rigid-armed fascist salute and a chant of “present.”

A contingent of police trucks formed a barrier between the protestors in Dongo and the large crowd of protesters singing the renowned partisan anthem “Bella Ciao” during the ceremony.

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Dozens In Italy Give A Fascist Salute On The Anniversary Of Mussolini’s Execution

Premier Giorgia Meloni coincidentally led her far-right Brothers of Italy party in an election rally in the city of Pescara on the anniversary of Mussolini’s execution. A high-ranking official in Mussolini’s final cabinet founded the Italian Social Movement in 1946, which is where Brothers of Italy gets its name. Following Mussolini’s downfall, the party attracted individuals who sympathized with fascism and former government officials.

Meloni, who became a member of the MSI’s youth branch during her teenage years, has made efforts to separate her party from its neo-fascist origins. She has criticized fascism’s suppression of democracy and emphasized that the Italian right-wing movement relinquished fascism to history several decades ago. On Sunday, Meloni asserted that the left poses a greater threat of totalitarianism to Italy.

She saw that Communist Party members had lodged a formal protest against the tents constructed on the Pescara seafront to host the Brothers of Italy demonstration.

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Dozens In Italy Give A Fascist Salute On The Anniversary Of Mussolini’s Execution

During this rally, Meloni declared her intention to lead the party’s campaign for the upcoming European Parliament elections in June.

“I observe that the Communist Party continues to exist, and I mention this fact to highlight the current presence of those who long for totalitarianism in Italy,” she stated.

SOURCE – (AP)

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Journalists Critical Of Their Own Companies Cause Headaches For News Organizations

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The following information is from a news article published by the Associated Press: In recent months, NBC News, The New York Times, and National Public Radio have all faced upheaval due to journalists applying their critical scrutiny, typically used to report on the world, to their employers.

Whistleblowing is not exclusive to any particular business. However, the opposing perspective ingrained in several journalists, which is often an integral aspect of their profession, along with shifts in how activism is perceived across generations, have resulted in a high likelihood of these instances persisting.

NBC recently rescinded its intention to employ Ronna McDaniel, the former chief of the Republican National Committee, as a political contributor. This reversal occurred when a group of its most prominent personalities staged a revolt. A senior editor at NPR was suspended and resigned after criticizing his company’s tolerance for varied opinions. Additionally, an internal investigation at the Times, which was initiated due to their coverage of Gaza, has concluded.

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Journalists Critical Of Their Own Companies Cause Headaches For News Organizations

Journalism as a vocation appeals to individuals who oppose authority and perceive themselves as purveyors of truth. According to Tom Rosenstiel, a professor at the University of Maryland and co-author of “The Elements of Journalism,” many people believe that criticism is the most effective approach to improving an organization.

“We are instructed to scrutinize those in positions of authority,” stated Kate O’Brian, the president of news for the E.W. Scripps Co.

It is inherent to their nature.

Was it truly unexpected to witness Chuck Todd, who has spent years interrogating politicians on “Meet the Press,” employ the same approach with his superiors when they hesitated to hire McDaniel? MSNBC’s Rachel Maddow, Joy Reid, Joe Scarborough, Jen Psaki, Nicolle Wallace, and Lawrence O’Donnell all participated in a protest that was remarkable because it occurred on the network’s own television broadcasts.

Uri Berliner, an editor at National Public Radio, faced minimal internal backing for his grievances, ironically strengthening his argument. He asserted that NPR had become too biased in pushing a liberal perspective, and he made his grievances public by publishing an essay in a different news medium after his superiors failed to address his concerns.

NPR management refutes his statement. However, Berliner swiftly gained admiration from conservatives who shared the same conviction.

The history of journalism is replete with numerous instances of significant internal protests. In the 1970s, female journalists initiated legal action against The New York Times and The Associated Press to compel them to address gender discrimination. Journalists from the Los Angeles Times uncovered a business agreement in which their employer agreed to distribute revenues with a sports arena as part of a special publication. A Chicago television news anchor resigned in objection to her station’s decision to employ talk show host Jerry Springer as a pundit.

NEWS

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Journalists Critical Of Their Own Companies Cause Headaches For News Organizations

The death of George Floyd in 2020, which Minneapolis police’s actions were to blame for, served as a turning point that forced news organizations all over the country to address their coverage of racial issues, both historical and current, sometimes under pressure from their employees. Additionally, it prompted an examination of the absence of diversity in newsrooms.

Other factors contribute to the increasing tendency of journalists to publicly express grievances that they may have previously only shared with colleagues in informal settings. Joel Kaplan, a former reporter for the Chicago Tribune and the associate dean for graduate studies at Syracuse University’s Newhouse communications department, suggests that it’s possible that a distant hedge fund, rather than a local family, is in charge of their outlet.

The emergence of a new generation has also empowered numerous young journalists. Within his classroom, Kaplan observes a growing number of young journalists who are challenging conventional ideas of neutrality, which hinder them from freely expressing their viewpoints. According to him, numerous individuals assert their entitlement to express their ideas and advocate for causes.

“Currently, there are journalists who function as advocates,” stated Rosenstiel. This indicates a conflict of values within the field of journalism.”

Discussions regarding the extent of media attention on the Trump administration had a comparable stimulating impact.

“Certain journalists express disinterest in covering conservatives due to their perceived lack of commitment to truth,” Rosenstiel stated.

A counter-reaction to the previous counter-reaction

Certain traditionalists, such as former Washington Post editor Marty Baron, have expressed deep concern over some of these alterations. Engaging in conflicts with young employees on their way of expressing thoughts on social media left him disheartened, ultimately contributing to his decision to resign.

In his 2023 book, “Collision of Power,” he expressed a sense of alienation from his colleagues during a staff meeting on journalism.

Journalist Wesley Lowery, a highly influential figure in this field, has argued that certain proponents of objectivity prioritize avoiding controversy and maintaining a certain image rather than focusing on the rigorous standards of journalism.

“At the peak of the debate, Ajay V. Singh, a Harvard student, expressed that by striving for objectivity, we suppress the voices of marginalized individuals,” “By suppressing the voices of the marginalized, we shift the control of the ‘truth’ narrative to those in positions of power.”

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Journalists Critical Of Their Own Companies Cause Headaches For News Organizations

Journalists at The New York Times have regularly been at the forefront, questioning their organization. After the newspaper disavowed a column by U.S. Senator Tom Cotton about Floyd-related protests in response to a staff demonstration in 2020, the editorial page editor resigned. Occasionally, members of the Times staff have expressed strong criticism of the newspaper’s reporting on matters related to gender.

However, the CEOs seemed impatient with the ongoing discussion over another controversial matter: the conflict in Gaza.

An internal inquiry was initiated to identify the source responsible for leaking information to an external media, the Intercept, about a podcast centered around an article from late December discussing Hamas and sexual violence. The podcast needed to be completed. Some staff members were angry at the Times’ perceived retaliation against employees who engaged in a common practice among its reporters: writing stories based on leaked material.

However, the Times’ management perceived the conduct as a breach of trust, specifically sharing preliminary versions of content that were never published.

Joe Kahn, the Times executive editor, stated in a memo to staff on April 15 that reporters, editors, and producers should engage in open and honest discussions and debates about the most effective approach to challenging journalism. These exchanges should enhance the quality of the story rather than become the focus of the story itself. He said the investigation ended without identifying the person responsible for leaking the documents.

Amidst this context, there is another fact: The public is now more interested in the media itself and its news coverage than before, which has created a demand for the kind of content that Kahn was referring to – and this story.

According to Rosenstiel, due to the high level of interest and the strong presence of media in the debate, there will certainly be an abundance of sources for such material.

“Newsrooms,” he stated, “are frequently populated by individuals who are frequently dissatisfied.”

SOURCE – (AP)

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