Elon Musk unperturbed into Dogecoin tweets by alleged prospect of SEC probe

Spread the love

The Tesla CEO avowedly loves “dogs and memes” and supports the rumoured prospect of his Dogecoin tweets being federally scrutinised with a regularly droll attitude.

“Rumors of a potential U.S. Securities and Exchange Commission investigation into the supposed effect of Tesla CEO Elon Musk on Dogecoin’s price fluctuations have circulated on social media over the past day, a phenomenon that one Twitterer has joked is “peak 2021.

Despite Musk’s past show-downs with the SEC, the CEO seems to be unaware of the prospect of an all-too-real legal fallout caused by his penchant for the cryptocurrency meme. The professed love of “dogs & memes” by Musk has spurred him to frequently post Dogecoin (DOGE) jocular memes, most recently one showing “on the actual moon” the Doge mascot.

Although the reference apes trader lingo for stratospheric price action and could therefore be interpreted as some kind of endorsement, Musk has publicly said that when it comes to strategic personal and corporate investment, he is a Bitcoin (BTC) partisan for all his love of the meme cryptocurrency. That has not prevented the twittering of the CEO, but tongue-in-cheek, from providing some serious fuel for the volatility of the memecoin market, being just one example of Dogecoin Christmas 2020.

RECOMMENDED READ:  Max ETH2.0 deposits hit a peak as confidence in the Proof-of-Stake concept increases.

The seemingly all-too-real effect of Musk on the price changes of both cryptocurrencies, given its immense social media follow-up, renders disentangling meme fun almost impossible from celebrity shilling. Legal advisors have previously expressed their view that after his documented influence on Bitcoin’s price moves this year, the CEO could already be in for scrutiny from the SEC.

In the imagination of the CEO, both the prospect of an SEC investigation and the prospect of Doge’s metamorphosis into “a true currency,” remain, for now, parallel meme-like and humorous eventualities. Musk may have had real ramifications for the CEO in previous SEC battles back in 2018, resulting in his removal as chairman of the Tesla board and the payment of financial penalties, but he seems unlikely to give up on his Twitter kicks just yet.

 320 Interactions,  2 today

XRP holders denied participation as third-party claimant in the Ripple-SEC lawsuit.

The judge presiding over the SEC-Ripple case has rejected the assets holders' request to appear as third-party claimants in the Read more

South Korea’s digital currency exchanges face bans over anti-money laundering violations

The South Korean financial regulator has launched a number of new regulatory mechanisms to insure that digital currency exchanges comply Read more

Japanese crypto trader sentenced to one year in jail

The Ishikawa Prefecture Court finds the Japanese merchant guilty of tax evasion by buying bitcoins. Now he faces a year Read more

SEC’s activities have caused $15 billion in losses to XRP holders:

Weeks after the United States Securities and Exchange Commission lodged a revised complaint in its case against Ripple Labs, the Read more

China bans crypto mining in the heart of Mongolia

China has been at the forefront of creating the digital yuan or DECP [Digital Currency Electronic Payment], but has stayed Read more

Blockchain Australia terminates Qoin retail crypto project

Blockchain Australia has ended Qoin's membership of the organisation on the grounds that the crypto project is a pyramid scheme. Read more

US judge dismisses the case of crypto fraud against the BNT token issuer.

The U.S. Federal Judge ruled that the case against the crypto corporation Bancor had been dismissed, citing the lack of Read more

Tether and Bitfinex, reached a settlement of $18.5 million in penalties, to cease NY activities

The much-discussed conflict between Bitfinex and Tether has now come to an end; the parties have reached a settlement. The Read more

Robinhood, Reddit, Citadel Justifying Their Conduct Before Congress

The Committee on Financial Services of the United States House of Representatives held a virtual hearing on February 18, 2021, Read more

Ripple’s XRP sales suppressed the price of the coin, a changed court lawsuit alleges

The SEC alleges that Ripple executives misled investors and manipulated the price of XRP coins by creating a "information vacuum." Read more

Leave a Reply

Contact Us