RABIT Weekly News (W3 September 2022)

Last June, Elon Musk was sued for $258 billion in the federal court in Manhattan, where he was accused of running a pyramid scheme by driving up the price of Dogecoin. His reasons for accusation were soaring the price of Dogecoin by over 36,000% and then purposely neglecting it to crash, making a profit of tens of billions of dollars by damaging the investors. The amended complaint regarding this claim was recently filed against both Tesla and SpaceX.
MicroStrategy (MSTR) plans to sell up to $500 million of stock to fund more bitcoin purchases. MicroStrategy announced that it would sell up to $500 million of its Class A common stock and open for investments. MicroStrategy amassed 129,699 bitcoins which are currently valued at over $2.761 billion.
The polygon, an Ethereum scaling platform, announced on the official channel that it has partnered with Starbucks. Starbucks customers will be able to experience NFT service and a wide range of reward programs. Brandy Brewer, the chief marketing officer at Starbucks, said, “we will offer a venue to celebrate the legacy and future of Starbucks through Web3 technology.”