Elon Musk satirically encourages SEC to investigate his Dogecoin tweets

Elon Musk satirically encourages SEC to investigate his Dogecoin tweets

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Tesla CEO Elon Musk has no respect for the SEC, but he hopes they will investigate his recent series of Dogecoin memes and tweets, after rumors of the commission’s investigation soon surfaced.

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

Musk has been encouraging the popular Cryptocurrency for the past few weeks by sharing several memes and tweets adopted by his group of followers. Dogecoin is probably the most popular Cryptocurrency, right there with Bitcoin, which Tesla bought worth $ 1.5 billion according to a documentation released by the carmaker in January.

Rumors of an SEC investigation into Musk’s Dogecoin tweets were first reported by @FirstSquawk on Twitter, indicating that ‘sources familiar with the matter’ said Musk would be investigated. Many, however, were skeptical for several reasons. The SEC did not formally issue a statement that the investigation would take place, the SEC does not regulate Cryptocurrency, and Musk, who would be the subject of the investigation, was not warned by the agency.

Dogecoin exploded in 2021 and went from less than a cent to more than eight cents per share during an early February rally. Due to the low cost, some investors had a large income from the boom, but the Crypto has since fallen to about five cents per share. According to CoinDesk, Dogecoin has increased by 837.82% so far this year.

If Musk were to be investigated by the SEC, it would not be the first time he had been entangled with the federal agency. After indicating that he could take Tesla in September 2018 at $ 420 per share, the SEC accused Musk of committing security fraud, and fined him $ 20 million and forced him to resign as chairman of the Tesla board. to enter.

Musk threw a number of stabs in the direction of the SEC, including an unfriendly acronym, the chief executive said Tweeted in July.

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