Dogecoin (DOGE), the popular meme token loved and supported by Elon Musk, the owner of Twitter (now known as X), has made many investors rich.
One of them was Carl Erik Rinsch, director of the Netflix series “Conquest”.
According to The New York Times, Carl Erik Rinsch used part of the $55 million budget allocated for the science fiction series Conquest to invest in stocks and Dogecoin.
Director Rinsch, who initially received a budget of 44 million dollars, later requested an additional budget of 11 million dollars.
Rinsch, who did not use the $11 million budget for the series, used $10.5 million of the additional fund to buy various stocks on the stock market.
However, Rinsch, who lost nearly $6 million on his stock investment in just a few weeks, transferred just over $4 million to the crypto exchange Kraken.
Rinsch, who invested all the money he invested in Kraken into DOGE, earned approximately 27 million dollars from his DOGE investment.
Rinsch withdrew the $27 million he earned from his DOGE investment in May 2021, according to account reports seen by The New York Times.
At this point, The New York Times reported that Rinsch filed a lawsuit against Netflix and claimed that Netflix owed him $14 million in compensation for profiting from the DOGE investment.
Netflix, on the other hand, denies Rinsch's claims, stating that it does not owe Rinsch any debt.
The decision on the case, which was heard at the beginning of November, is expected to be made soon.
*This is not investment advice.