Dogecoin

SEC Could be Investigating Elon Musk for Dogecoin Tweets

Tesla’s CEO, Elon Musk, has had his fair share of controversies in recent years and appears to have embroiled himself in a new one. Anonymous sources suggest that the US Securities and Exchange Commission (SEC) are investigating the billionaire for his tweets about Dogecoin.

Musk, who is quite popular for his pro-DOGE tweets, has consistently shown that he is a vocal supporter of the asset. Notably, his tweets about the digital coin tends to have a positive effect on its price which, at one time, pushed the cryptocurrency into the top 10 ranking of crypto assets by market cap.

If these anonymous sources are true, it won’t be Elon Musk’s first time having trouble with the financial regulator. In the past, the SEC charged him with security fraud for his controversial tweet stating “funding secured” on taking his popular electric car maker, Tesla, private. Both parties eventually opted for settlement in April 2019.

Elon Musk is Vocal About his Support for DogeCoin

The billionaire has expressed his public support for Dogecoin on several occasions with his tweets. At one point, he called himself the “Dogecoin CEO” and claimed the cryptocurrency will become the currency of the internet. At another time, he suggested that the virtual coin will be the official currency on Mars. There was even a time he said he had bought the asset for his son.

We also reported of his pledge to buy Dogecoin out of the hands of hodlers who he believes are “obstructing the digital coin from gaining massive adoption and acceptance by the general public.”

Musk vs SEC Rumors

Even as the rumor continues to make the rounds, the authorities are yet to release any official statement concerning if the SpaceX CEO is under investigation or not. But while reacting to a tweet that he could be under investigation by the authorities, Musk responded that “it would be awesome” if he was being investigated by the SEC.

 

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