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☆ Tesla investor accuses Elon Musk of insider trading that banked him $7.5 billion
▼ + stars: | 2024-06-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Tesla investor accused Elon Musk of using insider information on his company to sell $7.5 billion worth of Tesla stock in 2022, according to a lawsuit filed Thursday in Delaware Chancery Court. "Musk's insider profits for his November and December sales were approximately $3 billion based on the January 3, 2023 closing price of $108.10 per share," the lawsuit alleged. AdvertisementPerry also accused Musk of misleading shareholders about what to expect in the fourth quarter of that year in an October 2022 earnings call. "So, Q4 is looking extremely good," Musk said in the call, according to a transcript published by The Motley Fool. AdvertisementMcCormick's ruling has caused Musk to sour on Delaware and has been pitching a move for Tesla to be incorporated in Texas.

Persons: —, Elon Musk, Michael Perry, Tesla, Perry, Musk, Larry Ellison, Ellison, James Park, Kathaleen McCormick, McCormick Organizations: Service, Business, Oracle, New York Times, University of California, Investors Locations: Delaware Chancery, Los Angeles, Delaware, Texas

☆ This type of coin is 'among the riskiest of cryptocurrencies,' investing expert says—here's what to know
▼ + stars: | 2024-05-29 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +4 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display on March 5, 2024 in Paris, France. As meme stocks like GameStop temporarily surged this month, it appears meme coins are having a moment as well. But before you consider investing in cryptocurrency, it's important to understand the difference between meme coins, altcoins and bitcoin. And although every meme coin is an altcoin, every altcoin isn't necessarily a meme coin. "Meme coins are among the riskiest of cryptocurrencies because they seem to emerge from nowhere and information about them can be sparse," he says.

Persons: shiba, Pepe, Bitcoin, Satoshi Nakamoto, Nakamoto, Altcoins Altcoins, James Royal, you'll Organizations: GameStop, U.S ., CNBC, Federal Trade Commission Locations: Paris, France, cryptocurrency, stablecoins

☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ Kabosu, Shiba Inu Who Helped Define the Doge Meme, Dies at 18
▼ + stars: | 2024-05-24 | by ( Isabella Kwai | ) www.nytimes.com time to read: 1 min

Kabosu, a Shiba Inu whose “much wow” face helped launch one of the defining memes of the last decade and inspired the cryptocurrency Dogecoin, died on Friday. She was 18 years old. She “crossed the rainbow bridge” on Friday, her owner Atsuko Sato said on social media, adding that she died without suffering, and as Ms. Sato was petting her. She died at home in Sakura, a city east of Tokyo, Ms. Sato said in an email on Friday. Ms. Sato began posting photos of Kabosu enjoying her life and playing at home on her blog.

Persons: Shiba, Dogecoin, “, Atsuko Sato, Sato, ”, Kabosu Locations: Sakura, Tokyo

☆ Kabosu: The dog who inspired Dogecoin has died
▼ + stars: | 2024-05-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Kabosu, the dog that launched a thousand “doge” memes, has died, her owner announced Friday. The Japanese shiba inu “fell into a deep sleep” on Friday morning at 18 years of age, Atsuko Sato wrote in a blogpost. As I was touching her, she gently passed away,” wrote Sato, a kindergarten teacher in the Japanese city of Sakura. The popularity of “doge” memes was cemented in December 2013, when Kabosu became the face of alternative cryptocurrency Dogecoin — a tongue-in-cheek response to Bitcoin that reflected the internet’s love of animal memes. An X post by Dogecoin Friday called Kabosu the community’s “inspiration.” “The impact this one dog has made across the world is immeasurable,” the post read.

Persons: London CNN — Kabosu, shiba inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, shiba, Tesla, cryptocurrencies, Mai Nishiyama Organizations: London CNN, Elon, Twitter, Dogecoin Locations: “, Sakura

☆ RIP Kabosu, the celebrity canine who became the face of Dogecoin
▼ + stars: | 2024-05-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Kabosu, the Shiba Inu who became the face of Dogecoin, has died at the age of 18. Her quizzical expression went viral in 2010 and was later used as the cryptocurrency mascot. Elon Musk was one of Dogecoin's biggest fans, and Kabosu briefly became the Twitter logo in 2023. AdvertisementA diminutive Japanese dog who became the face of Dogecoin has died. The billionaire joked about Dogecoin on "SNL" and even briefly changed the Twitter home button to an image of Kabosu after buying the site in 2022.

Persons: Shiba Inu, Elon Musk, Kabosu, —, Dogecoin, Kabosu —, Atsuko Sato, Sato, Billy Markus, Jackson Palmer, Shiba Organizations: Service, Business Locations: Japan

☆ Why bitcoin hasn't joined the latest meme stock craze this week
▼ + stars: | 2024-05-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

GameStop and fellow meme stock AMC Entertainment are each up more than 160% over the past two days. "This isn't 2021 when the world was locked down and awash with liquidity," said Antoni Trenchev, cofounder of crypto exchange Nexo. To be sure, there's a world of cryptocurrencies beyond bitcoin that includes meme coins. Noelle Acheson, economist and author of the "Crypto is Macro Now" newsletter, added that the meme stock run was "more of a revving of engines than a full take-off" and that macro issues are still pressuring bitcoin. Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, added that although bitcoin was "lumped into the meme stock category" in 2021, the market is starting to show signs of being taken more seriously now.

Persons: bitcoin, Bitcoin's, Antoni Trenchev, haven't, Shiba, Noelle Acheson, Acheson, Sylvia Jablonski Organizations: GameStop, AMC Entertainment, AMC, Metrics Locations: bitcoin, U.S, BlackRock, Defiance

☆ Cryptocurrencies recover after bitcoin retreats from new record
▼ + stars: | 2024-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

On Tuesday bitcoin reached a new intraday record , for the first time since November 2021, of $69,210. It had been pushing higher for weeks – it's up 55% over the past month – and tumbled shortly after notching the new high. Bitcoin was last higher by 6% at $66,315.19, according to Coin Metrics, while ether rocketed more than 11% to $3,785.76, its highest level since January 2022. Cryptocurrencies bounced on Wednesday, recovering much of the losses from the previous day's sell-off, which came soon after bitcoin hit an all-time high. When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.

Persons: bitcoin, –, Bitcoin, Cryptocurrencies, David Wells, Binance, Shiba, Microstrategy Organizations: Metrics, Solana, Marathon Digital, CNBC PRO

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Bitcoin tops $65,000 as it nears 2021 all-time high
▼ + stars: | 2024-03-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Earlier, it rose to as much as $65,658.10, its highest level since November 2021. The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. "What we're seeing today ... might well be a rerun of early last week when bitcoin surged $10,000 in the space of a couple of days. Investors have been extra eager to see bitcoin approach its all-time high. Nevertheless, long-term investors are confident that the combination of increasing demand for bitcoin through the new U.S. exchange-traded funds and a tighter supply expected after the April halving event will push the price of bitcoin to a new all-time high.

Persons: bitcoin, cryptocurrency, Antoni Trenchev, Crypto, David Duong, Dogecoin, Shiba, CleanSpark Organizations: Metrics, Nasdaq, Marathon Digital, Iris Energy

☆ How long will your dog live? Measure its nose
▼ + stars: | 2024-02-03 | by ( Amanda Schupak | ) edition.cnn.com time to read: +6 min

CNN —Is your dog a small male with a long nose? If so, your furry companion is more likely to be at your side for a long time, according to new research. Small and medium dogs with pronounced schnozes lived over 12 years on average, while flat-faced dogs of all sizes fell short of that mark. The study includes millions of data points, but it doesn’t necessarily represent the full spectrum of companion dog life, McMillan said. “The ethical and welfare concerns surrounding dog breeding have become one of the most important issues — if not the most important issue — within canine welfare,” McMillan said.

Persons: ”, Kirsten McMillan, ” McMillan, expectancies, Shiba Inus, schnozes, Dan O’Neill, ” Esme Wheeler, “, Wheeler, Silvan, ” Urfer, “ I’m, McMillan Organizations: CNN, Dogs Trust, bulldogs, French bulldogs, Italian greyhounds, Royal Veterinary College, Royal Society for, “, University of Washington, Dogs Locations: United Kingdom, Italian, Lhasa, Frenchies, London, United States

☆ Scientists figured out which dog breeds live the longest
▼ + stars: | 2024-02-03 | by ( Ellyn Lapointe | ) www.businessinsider.com time to read: +8 min

Scientists in the UK investigated how a dog's breed, size, sex, and face shape affect lifespan. Flat-faced dogs, large dogs, and male dogs typically live shorter lives, the scientists discovered. Shown here are dog breeds that fall under the lowest 25% for longevity. AdvertisementAs a result, it may explain why the data suggested crossbreeds live shorter lives, McMillan said. Artificial breeding has shortened dogs' livesHuman-led dog breeding has led to new breeds that live shorter lives.

Persons: Shiba Inus, —, poochies, Bernards, Anita Kot, Presa, Cane Corsos, Cane Corso, Bernard, Kseniya Starkova, Kirsten McMillan, Kirsten McMillian, McMillan Organizations: Lancashire, Service, Dog's Trust, Lakeland, French bulldogs, pugs, Dogs Trust, America Kennel, Westend61 Locations: St

☆ Dogs don kimonos, receive blessings in place of children in aging Japan
▼ + stars: | 2023-11-14 | by ( Irene Wang | ) www.reuters.com time to read: +2 min

[1/5] Pet owners pray with their pet dogs as they arrive for a Shichi-Go-San blessing, traditionally performed for young children to ask for health and happiness, at Zama Shrine in Zama, Kanagawa Prefecture, near Tokyo, Japan, November 14, 2023. REUTERS/Kim Kyung-Hoon Acquire Licensing RightsZAMA, Japan, Nov 14 (Reuters) - A traditional ceremony for children is catching on among pet owners in Japan, where dogs and cats are receiving ever more attention amid the nation's plummeting birth rates. Parents dress their girls and boys in kimonos and bring them to a Shinto holy place for the ceremony. On Tuesday, numerous pet owners led their charges up the steep steps to reach the Inuneko Jinja, or Dog-Cat Shrine, to pray and receive a blessing from a Shinto priest. "The number of children is decreasing each year, and as a result, more and more people are pouring their love into their dogs and cats," said Zama Shrine priest Yoshinori Hiraga.

Persons: Kim Kyung, Natsuki Aoki, Aoki, Shiba, Yoshinori Hiraga, Masayo Tashiro, Irene Wang, Rocky Swift, Raju Gopalakrishnan Organizations: REUTERS, Thomson Locations: Zama, Kanagawa Prefecture, Tokyo, Japan, Hiroshima, kimonos, Jinja, Pomeranian

☆ 22-year-old who lost $80,000 in crypto: 'I was investing with money I didn't necessarily have'
▼ + stars: | 2023-09-07 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Between November 2021 and June 2022, Nguonly says he lost about $80,000 by investing in crypto on margin. But as bitcoin's price went on a tear, he decided to buy more — about $15,000 worth — on margin. But at the end of 2021 the crypto market took a turn, and by the summer of 2022 bitcoin's price crashed over 70%. "I was investing with some money that I didn't necessarily have," Nguonly tells CNBC Make It. It's also important to avoid investing techniques you don't understand, such as options trading or investing on margin.

Persons: Ethan Nguonly, Nguonly, shiba inu, bitcoin, It's Organizations: CNBC, Securities and Exchange Commission, Federal Reserve, Financial Industry Locations: bitcoin, cryptocurrency

☆ Cheems Balltze, the internet’s cheeseburger-loving dog, has died
▼ + stars: | 2023-08-21 | by ( Emily Blumenthal | ) edition.cnn.com time to read: +2 min

CNN —Cheems Balltze, a little dog whose smiling face and stocky physique went viral in memes about his passion for cheeseburgers, has died after a short battle with cancer. The 12-year-old Shiba Inu, also known as Ball Ball, underwent thoracentesis surgery on Friday but never woke up, his owner, Kathy, wrote in a post on Instagram. She said Ball Ball was set to receive further treatment for his cancer after the operation. The chubby dog with a “round smiling face” was loved by many, his owner said. He was also famous for the meme “Swole Doge vs. Cheems,” which depicts an exaggeratedly muscular dog alongside a meek smaller dog.

Persons: Cheems, Shiba Inu, Kathy, Ball, ”, Balltze, “, ” “ I’m, “ Balltze Organizations: CNN Locations: Hong Kong

And Twitter's cash flow has been negative as a result of that and its heavy debt load. Mike Proulx, research director at Forrester, said on Sunday that the move would further alienate Twitter's original, and once fiercely loyal, user base. The billionaire Musk said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black. Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. In April, Twitter's legacy blue bird logo was temporarily replaced by Dogecoin's Shiba Inu dog, helping drive a surge in the cryptocurrency's market value.

Persons: Elon Musk, Mike Proulx, Forrester, Musk, Dado Ruvic, adieu, Linda Yaccarino, Twitter, Dogecoin's Shiba, Mrinmay Dey, Rishabh, William Mallard, Jan Harvey, Cynthia Osterman, Diane Craft Organizations: Twitter Inc, REUTERS, Twitter, X Corp, Thomson Locations: Bengaluru

"Interim X logo goes live later today," Musk said on Twitter adding that "X.com" would now redirect to Twitter's website. Musk's X Corp owns Twitter. The billionaire said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black. Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. In April, Twitter's legacy blue bird logo was temporarily replaced by Dogecoin's Shiba Inu dog, helping drive a surge in the cryptocurrency's market value.

Persons: Elon Musk, Musk, Dado Ruvic, adieu, Musk's, Dogecoin's Shiba, Mrinmay Dey, Rishabh, William Mallard, Jan Harvey, Cynthia Osterman Organizations: Twitter Inc, Twitter, X Corp, REUTERS, Thomson Locations: Bengaluru

☆ Elon Musk says Twitter to change logo, adieu to 'all the birds'
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +2 min

July 23 (Reuters) - Elon Musk said on Sunday he was looking to change Twitter's logo, tweeting: "And soon we shall bid adieu to the twitter brand and, gradually, all the birds". ET (0406 GMT), the social media platform's billionaire owner added: "If a good enough X logo is posted tonight, we'll make (it) go live worldwide tomorrow." loadingMusk posted an image of a flickering "X", and later in a Twitter Spaces audio chat replied "Yes" when asked if the Twitter logo will change, adding that "it should have been done a long time ago". Twitter's website says its logo, depicting a blue bird, is "our most recognizable asset". Since Musk acquired it, the company has laid off more than half its workforce to cut costs.

Persons: Elon Musk, adieu, Dogecoin's Shiba, Musk, Rishabh, William Mallard, Jan Harvey Organizations: Twitter, X Corp, Thomson Locations: Bengaluru

☆ Adieu to ‘all the birds,’ Elon Musk says as he announces Twitter logo change
▼ + stars: | 2023-07-23 | by ( ) www.cnbc.com time to read: +1 min

Elon Musk said Sunday he was looking to change Twitter's logo, tweeting: "And soon we shall bid adieu to the twitter brand and, gradually, all the birds." In a post on the site at 12:06 a.m., the social media platform's billionaire owner added: "If a good enough X logo is posted tonight, we'll make (it) go live worldwide tomorrow." Musk posted an image of a flickering "X", and later in a Twitter Spaces audio chat replied "Yes" when asked if the Twitter logo will change, adding that "it should have been done a long time ago." Twitter's website says its logo, depicting a blue bird, is "our most recognizable asset." Since Musk acquired it, the company has laid off more than half its workforce to cut costs.

Persons: Elon Musk, adieu, Musk, Dogecoin's Shiba Organizations: Twitter, X Corp

☆ NAFO: The pro-Ukraine internet 'fellas' using Shiba Inu memes to fight Russian propaganda
▼ + stars: | 2023-07-11 | by ( Jill Dougherty | ) edition.cnn.com time to read: +5 min

“NAFO” stands for the North Atlantic Fellas Organization and is a decentralized online volunteer organization that is waging its own social media war against Russia and its invasion of Ukraine. Over the weekend, the group held its own summit in Lithuania’s capital, which was opened by the country’s foreign minister. A cartoon Shiba Inu, wearing the blue and yellow colors of Ukraine's flag, pops up behind Estonian Prime Minister Kaja Kallas in a video she shared on Twitter. Some fellas are Ukrainian soldiers, who are fighting on the front lines and provide pictures from the battlefield, mocking the incompetence of the Russian military or praising Ukrainian bravery. After identifying Russian propaganda or pro-Russian sympathizers, fellas pile on their posts with memes, humor, wry logic, and dismissive comments.

Persons: Kaja Kallas, Kallas, Petras Malulas, NAFO, Kamil Dyszewski, Gabrielius Landsbergis, Keir Giles, Matt Moores, you’ve, Maria Zakharova, ’ ”, Defense Oleksii Reznikov, ”, Shiba, Shiba Inu, Ben Wallace, Adam Kinzinger Organizations: CNN, Estonian, Atlantic Fellas Organization, Twitter, Getty, Georgian Legion, Center for Strategic, International, Russian Foreign, Union, Ukraine’s, Defense, United Kingdom’s, Ukraine Locations: Vilnius, Lithuania, Estonian, Russia, Ukraine, Lithuania’s, AFP, Russian, Egypt

☆ Tottori Sand Dunes: Japan’s disappearing desert
▼ + stars: | 2023-06-15 | by ( Claire Hannum | ) edition.cnn.com time to read: +10 min

But these are the Tottori Sand Dunes, wedged along the coast of Japan’s sparsely populated San’in region, the country’s very own slice of desert. A dwindling treasureThe Tottori dunes are located on the western coast of Honshu, Japan’s largest and most populous island. The Tottori Sand Dunes are just 12% of the size that they were 100 years ago. “The environmental conditions of the Tottori Sand Dunes are different from those of arid lands because of its humid climate,” Nagamatsu says. “But Tottori University is promoting arid land research using the ‘sand’ conditions of the Tottori Sand Dunes and experimental facilities.”Down the road from the research center, tourists are experiencing an otherworldly adventure in the sand.

Persons: you’d, They’ve, Takeo Arishima, ”, Dai Nagamatsu, Akira Miyawaki, — Buddhika, Nagamatsu, shiba, sandboarders, Anya Jarilla, “, it’s, amulapo, Kengo Kuma Organizations: Japan CNN, Sand Museum, Tottori University’s Faculty of Agriculture, Local, Brazilian Amazon ., Research Center, ” Staff, Associates Locations: Tottori Prefecture, Japan, Tottori, Honshu, Japan’s, Osaka, Hiroshima, Chūgoku, Sendai, Tottori University’s, Tottori City, Brazilian, Paragliders, Tottori Sand, Tokyo, ”

☆ Twitter CEO Linda Yaccarino due to start weeks earlier than expected, report says
▼ + stars: | 2023-06-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Elon Musk announced last month that Linda Yaccarino would take over as Twitter CEO. Another former NBCUniversal executive joined Twitter on Sunday. Linda Yaccarino, the incoming Twitter CEO, is due to start on Monday, according to The Information. Musk had said in December he would step down as Twitter CEO after users voted in a poll. The Information's report also came the same day that another former NBCUniversal executive joined Twitter.

Persons: Elon Musk, Linda Yaccarino, she's, Musk, he'd, NBCUniversal, Shiba, Yaccarino, Joe Benarroch, Twitter Organizations: Twitter, Elon, Comcast Locations: NBCUniversal, Cuban

☆ Elon Musk hit with dogecoin insider trading lawsuit
▼ + stars: | 2023-06-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Elon Musk has been accused of insider trading in a class action lawsuit. Musk has repeatedly shared his enthusiasm for the token, including once on "Saturday Night Live." Musk, who is once again the world's richest man, is a longtime dogecoin fan. Alex Spiro, a lawyer for both Musk and Tesla, did not immediately respond to a request for comment from Insider, made outside normal working hours. Read more: Elon Musk's latest financial advice: Don't pour your life savings into dogecoin

Persons: Elon Musk, Tesla, Musk, —, Elon, shiba, –, Musk's, Alvin Hellerstein, Alex Spiro, Read Organizations: Investors, Service, Privacy, Reuters, Twitter Locations: Manhattan, London

NEW YORK, June 1 (Reuters) - Elon Musk is being accused of insider trading in a proposed class action by investors accusing the Tesla Inc (TSLA.O) CEO of manipulating the cryptocurrency Dogecoin, costing them billions of dollars. A "deliberate course of carnival barking, market manipulation and insider trading" enabled Musk to defraud investors, promote himself and his companies, the filing said. The investors' lawyer did not immediately respond to a separate request. They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June. The case is Johnson et al v. Musk et al, U.S. District Court, Southern District of New York, No.

Persons: Elon Musk, Musk, influencers, Dogecoin's Shiba, Alex Spiro, Tesla, Alvin Hellerstein, Johnson, Jonathan Stempel, Marguerita Choy Organizations: YORK, Tesla Inc, Investors, Twitter, Forbes, Court, Southern District of, Thomson Locations: Manhattan, Dogecoin, U.S, Southern District, Southern District of New York, New York

Pepe, a coin inspired by an anthropomorphized frog popular in internet memes, leapt nearly 7,000% in the 17 days after its April 16 launch, hitting a market value of $1.8 billion by May 5, according to data tracker CoinGecko. "It's almost like, if the market is not moving up fast enough, traders find these smaller tokens to trade with." Since its launch in April, the token linked to Pepe the frog has raced up the list of meme coins in terms of market value. Binance says on its website that pepe has "no utility" or "value support mechanism". The centralized listings also opened the door for derivative trading for pepe, with leveraged exposures and volatility pushing Ethereum transaction fees higher, Devens said.

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