Saturday, April 10, 2021

Elon Musk Responds to Speculation of SEC’s Investigation over Dogecoin Deliberate Pumps

Elon Musk, the CEO of Tesla and founder of SpaceX, has recently responded to the trending speculation of a possible investigation by the United States Securities and Exchange Commission (SEC) over his deliberate tweets targeted at pumping the price of Dogecoin (DOGE).

Since the beginning of 2021, Elon Musk has been showcasing his seemingly unending interest in cryptocurrency, especially Bitcoin (BTC), and the cryptocurrency created out of meme, Dogecoin (DOGE).

Read Also: Elon Musk Admits He Will Never Turn Down the Chance of Getting Paid in Bitcoin (BTC)

There were instances whereby, a tweet by the billionaire entrepreneur single-handedly initiated a meteoric rise in the price of DOGE, which has stirred demands for the SEC’s investigation into his so-called market manipulation.

Elon Musk Hopes the SEC Proceeds With the Investigation

The trending issue was brought up on Twitter a while ago by a pseudonymous crypto enthusiast known as Pope of Muskanity.

The user wrote, “The SEC investigating dog memes sent by a memer about a memecoin is peak 2021. All Hail Emperor Musk!”

In response to the tweet, the billionaire founder of SpaceX displayed his readiness for the purported SEC’s investigation.

Read Also: Elon Musk’s Tesla Gains Over $1 Billion in Less Than 45 Days of 1.5 Billion in BTC Purchase

“I hope they do! It would be awesome.”

Elon Musk’s Past Encounter with the SEC

As earlier stated, Musk’s frequent tweets about the meme coin have had a significant impact on its price action. Sometimes last week, he challenged Dogecoin whales to drop their massive positions, assuring them of payment in fiat if they follow his counsel.

Aside from this recent scenario, there have been instances whereby Elon Musk’s tweets were up for the SEC’s investigation.

Read Also: Elon Musk Just Changed His Twitter Bio To “meta for k”, Is He Really Trolling Cardano (ADA)?

In the past, the regulator accused the tech expert of securities fraud over his controversial “funding secured” tweet in relation to taking Tesla private. However, the case later ended in a settlement.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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