Oregon has joined a multi-state lawsuit over Elon Musk and Dogecoin’s access to Treasury data. The lawsuit alleges that Musk and the cryptocurrency Dogecoin were given improper access to sensitive financial data by the US Treasury Department.
The lawsuit, which is led by New York Attorney General Letitia James, includes 23 states and the District of Columbia. It claims that the Treasury Department allowed Musk and Dogecoin owners to access embargoed economic data before it was made public. This allegedly gave them an unfair advantage in the financial markets.
Musk, who is the CEO of Tesla and SpaceX, has been a vocal supporter of Dogecoin, a cryptocurrency that initially started as a joke. He has often tweeted about Dogecoin, causing its value to fluctuate wildly. The lawsuit alleges that Musk used his influence and access to Treasury data to manipulate the market in favor of Dogecoin.
Oregon Attorney General Ellen Rosenblum stated that allowing Musk and Dogecoin owners to access sensitive financial data before the public could create an unfair playing field in the financial markets. She added that this type of behavior undermines the integrity of the financial system and harms everyday investors.
The lawsuit seeks to hold the Treasury Department accountable for allegedly giving preferential treatment to Musk and Dogecoin owners. It also aims to prevent similar incidents from happening in the future. The outcome of the lawsuit could have far-reaching implications for how financial data is handled and disseminated in the future. Oregon’s involvement in the lawsuit highlights the state’s commitment to protecting consumers and maintaining transparency in the financial markets.
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