Elon Musk recently engaged with the concept of potentially using Dogecoin as a payment option for Starlink services in Brazil, responding to a suggestion on a social media platform. This consideration arose in response to the freezing of Starlink’s bank accounts by the Supreme Court of Brazil, a move that has impacted the company's ability to receive payments. Despite the financial restrictions, Musk stated that Starlink is committed to providing free internet services not only to the Brazilian military but also to other users in Brazil until a resolution is reached regarding the legal issues concerning the bank account freeze.
The Brazilian Supreme Court's decision to freeze Starlink’s accounts was a response to the company's failure to comply with Brazilian laws requiring internet companies to have legal representation in the country. The freeze also relates to outstanding fines that were to be paid by Starlink. Musk expressed his dissatisfaction with the court order, labeling it as illegal and highlighting that SpaceX and X are separate entities, despite his ownership in both companies. With over a quarter million Starlink customers in Brazil, including various organizations like schools and first responders, SpaceX is working to ensure uninterrupted internet service for its users amidst the legal dispute.
Elon Musk has a history of influence on Dogecoin's value through his social media posts and endorsements, with the cryptocurrency often reacting to his comments or actions. Musk's involvement with Dogecoin has sparked fluctuations in its price, with a recent surge following an AI-generated image he shared referencing the cryptocurrency on social media. Additionally, Musk and Tesla recently saw the dismissal of a lawsuit alleging insider trading and market manipulation related to Dogecoin, where the judge ruled that social media posts alone cannot form the basis for a securities fraud claim.