Elon Musk Satirically Encourages SEC To Probe His Dogecoin Tweets

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Tesla CEO Elon Musk has no respect for the SEC, but he is hopeful that they will address his recent round of Dogecoin memes and tweets after rumors of a Commission investigation unfolding soon.

“I hope they do! That would be great, ”Musk told a Twitter follower last night.

Musk has spent the past few weeks cheering on the popular cryptocurrency by sharing several memes and tweets picked up by his group of followers. Dogecoin is arguably the most popular cryptocurrency, right up there with Bitcoin, which Tesla bought for $ 1.5 billion according to a deposit the automaker released in January.

Rumors of an SEC investigation into Musk’s Dogecoin tweets were first reported by @FirstSquawk on Twitter, who indicated that “sources familiar with the matter” said Musk would be the subject of ‘investigation. However, many were skeptical for a number of reasons. The SEC has not officially released a statement that the investigation will take place, the SEC does not regulate the cryptocurrency, and Musk, who is believed to be the subject of the investigation, has not been notified by the agency. .

Dogecoin exploded in 2021, going from less than a cent per share to over eight cents per share in a rally in early February. Due to its low cost, some investors took advantage of the surge, but the crypto has since stabilized at around five cents a share. According to CoinDesk, Dogecoin has risen 837.82% so far this year.

If Musk were to be investigated by the SEC, it wouldn’t be the first time he had meddled with the federal agency. After indicating that he could privatize Tesla at $ 420 a share in September 2018, the SEC accused Musk of committing securities fraud and fined him $ 20 million and forced him to resign. of his role as Chairman of the Board of Directors of Tesla.

Musk threw a few punches at the SEC’s leadership, including a not-so-friendly acronym, that the CEO Tweeted in July.



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