Tesla and SpaceX CEO Elon Musk and his legal counsels are alleging in a recent filing that Twitter hoodwinked them. Musk offered to purchase Twitter earlier this year, but changed his mind and attempted to back out of the agreement by asserting the social media network was plagued with a significantly bigger number of “spam bots” and bogus accounts than Twitter reported.

Elon Musk, the wealthiest man in the world, is a well-known Dogecoin enthusiast. Musk disclosed in May that he has secured investment from 18 firms, including Binance, to acquire Twitter. In a recent appearance on the Full Send Podcast, the self-proclaimed ‘Dogefather’ stated that Dogecoins’ blockchain had a significantly higher transactional capacity compared to Bitcoin.

The “Musk Effect’ is real. Every time the billionaire comments about Dogecoin on Twitter, the price of this cryptocurrency typically rises relatively quickly. Twitter describes Musk’s rationale for withdrawing from the acquisition agreement as “a tale he made up to exit a merger agreement he no longer found appealing.”
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