Here We Go Again. Elon Musk Likely Under SEC Investigation for Dogecoin Tweets

[TruckElectric]

It's happening again.

Tesla CEO Elon Musk might be under SEC investigation by the U.S. Securities and Exchange Commission over his flurry of Dogecoin tweets to cryptocurrency investors, according to an initial tweet from First Squawk — an audio-based financial newswire.



Elon Musk likely under investigation for Dogecoin tweets
While the rumor has yet to acquire a confirmation, there is more than enough context in Musk's recent Twitter activity to justify the suspicion.

We've known Musk's tweets have been under SEC monitoring efforts for a while. In 2018, Musk misrepresented the likelihood of a private Tesla offering, and eventually reached a settlement with the SEC. As a result, the SEC has restricted and pre-approved Musk's tweets regarding business activity, since 2019.

Taken together, these facts raise the likelihood that the SEC — which has shown increased interest in regulating cryptocurrency, is watching Musk's tweets, combing them for relevance or potential effects on Dogecoin or other cryptocurrencies.

Seemingly in spite of rumored investigations, Musk has continued to tweet — the most recent of which related to Dogecoin was sent on Feb. 4, at 8:00 AM EST.

Dogecoin drops 5.7 percent amid SEC investigation rumors
At first glance, it seems improbable that Tesla CEO would tweet about Dogecoin while under current investigation by the SEC, but judging from his previous comments, he's just as likely to ignore the information.

Elon Musk said he "[does] not respect the SEC" in 2018 during a Bloomberginterview. The tech billionaire also said his tweets were never censored by the SEC — because the regulator had reached a settlement with Tesla.

From the context of his expressed opinions, history, and recent tweets, it seems likely Elon Musk is under investigation by the SEC for his Dogecoin tweets. But since the rumors began circulating, Doge dropped 5.7% in 24 hours — much more drastic than Bitcoin's 0.1% dip in the same day.

SOURCE: INTERSTING ENGINEERING



Dogecoin Price Alert: DOGE Drops on Elon Musk SEC Investigation Rumor

Rumors of an SEC investigation against Musk could bring trouble for DOGE. Here's what to know.
By Sarah Smith, InvestorPlace Web Content Producer Feb 25, 2021, 1:30 pm EST

Woof. Things are not looking great this afternoon for the popular cryptocurrency Dogecoin (CCCOGE). With rumors swirling that the U.S. Securities and Exchange Commission is investigating Elon Musk over his public support, DOGE is falling. So what do you need to know? And what does this mean for Dogecoin price predictions?

Here is a quick recap. Elon Musk is the CEO of huge companies like SpaceX and Tesla(NASDAQ:TSLA). He is also a huge supporter of cryptocurrencies, including meme-worthy Dogecoin. In recent weeks he has used Twitter(NYSE:TWTR) to share his support and create memes with other celebrities like Gene Simmons and Snoop Dogg. Just yesterday, an update to his Twitter bio and a declaration that DOGE was headed for the moon created a 20%.

Unfortunately, those tweets may be taking DOGE on a turn for the worse.

Zero Hedge, a financial blog that rose to prominence in the wake of the 2008 crisis, tweeted today that the SEC is investigating Musk for his tweets on Dogecoin. The message from Zero Hedge simply cites sources familiar with the matter.


Right now, that is all we have to go on about the story. However, the tweet is doing its trick. At the time of writing, DOGE prices were down 8% over the last 24 hours.

Dogecoin Price Predictions: What Comes Next?
So what does this mean for Dogecoin? And is there any merit to such an investigation?

Some social media users were quick to point out that cryptocurrencies are designed to have protection from such regulatory agencies. However, Musk is a complicated figure. We know that he has purchased DOGE on behalf of his youngest son, X Æ A-Xii. We also know that his tweets have been hugely influential in Dogecoin price predictions, leading to several isolated rallies in the DOGE price. And lastly, we know that Musk is no stranger to SEC regulators. Previous tweets about the price of Tesla stock have landed him in hot water.

Keep a close eye on these rumors, and wait for further confirmation. And if you are a big believer in Musk, cross your fingers and hope he tweets out his next bold, bullish message.

SOURCE: INVESTOR PLACE

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[CompMaster]

What does this have to do with CT? Or electric Trucks? I thought Reddit was the everything forum...

 

[CyberT]

It's happening again.

Tesla CEO Elon Musk might be under SEC investigation by the U.S. Securities and Exchange Commission over his flurry of Dogecoin tweets to cryptocurrency investors, according to an initial tweet from First Squawk — an audio-based financial newswire.



Elon Musk likely under investigation for Dogecoin tweets
While the rumor has yet to acquire a confirmation, there is more than enough context in Musk's recent Twitter activity to justify the suspicion.

We've known Musk's tweets have been under SEC monitoring efforts for a while. In 2018, Musk misrepresented the likelihood of a private Tesla offering, and eventually reached a settlement with the SEC. As a result, the SEC has restricted and pre-approved Musk's tweets regarding business activity, since 2019.

Taken together, these facts raise the likelihood that the SEC — which has shown increased interest in regulating cryptocurrency, is watching Musk's tweets, combing them for relevance or potential effects on Dogecoin or other cryptocurrencies.

Seemingly in spite of rumored investigations, Musk has continued to tweet — the most recent of which related to Dogecoin was sent on Feb. 4, at 8:00 AM EST.

Dogecoin drops 5.7 percent amid SEC investigation rumors
At first glance, it seems improbable that Tesla CEO would tweet about Dogecoin while under current investigation by the SEC, but judging from his previous comments, he's just as likely to ignore the information.

Elon Musk said he "[does] not respect the SEC" in 2018 during a Bloomberginterview. The tech billionaire also said his tweets were never censored by the SEC — because the regulator had reached a settlement with Tesla.

From the context of his expressed opinions, history, and recent tweets, it seems likely Elon Musk is under investigation by the SEC for his Dogecoin tweets. But since the rumors began circulating, Doge dropped 5.7% in 24 hours — much more drastic than Bitcoin's 0.1% dip in the same day.

SOURCE: INTERSTING ENGINEERING



Dogecoin Price Alert: DOGE Drops on Elon Musk SEC Investigation Rumor

Rumors of an SEC investigation against Musk could bring trouble for DOGE. Here's what to know.
By Sarah Smith, InvestorPlace Web Content Producer Feb 25, 2021, 1:30 pm EST

Woof. Things are not looking great this afternoon for the popular cryptocurrency Dogecoin (CCCOGE). With rumors swirling that the U.S. Securities and Exchange Commission is investigating Elon Musk over his public support, DOGE is falling. So what do you need to know? And what does this mean for Dogecoin price predictions?

Here is a quick recap. Elon Musk is the CEO of huge companies like SpaceX and Tesla(NASDAQ:TSLA). He is also a huge supporter of cryptocurrencies, including meme-worthy Dogecoin. In recent weeks he has used Twitter(NYSE:TWTR) to share his support and create memes with other celebrities like Gene Simmons and Snoop Dogg. Just yesterday, an update to his Twitter bio and a declaration that DOGE was headed for the moon created a 20%.

Unfortunately, those tweets may be taking DOGE on a turn for the worse.

Zero Hedge, a financial blog that rose to prominence in the wake of the 2008 crisis, tweeted today that the SEC is investigating Musk for his tweets on Dogecoin. The message from Zero Hedge simply cites sources familiar with the matter.


Right now, that is all we have to go on about the story. However, the tweet is doing its trick. At the time of writing, DOGE prices were down 8% over the last 24 hours.

Dogecoin Price Predictions: What Comes Next?
So what does this mean for Dogecoin? And is there any merit to such an investigation?

Some social media users were quick to point out that cryptocurrencies are designed to have protection from such regulatory agencies. However, Musk is a complicated figure. We know that he has purchased DOGE on behalf of his youngest son, X Æ A-Xii. We also know that his tweets have been hugely influential in Dogecoin price predictions, leading to several isolated rallies in the DOGE price. And lastly, we know that Musk is no stranger to SEC regulators. Previous tweets about the price of Tesla stock have landed him in hot water.

Keep a close eye on these rumors, and wait for further confirmation. And if you are a big believer in Musk, cross your fingers and hope he tweets out his next bold, bullish message.

SOURCE: INVESTOR PLACE

Possible FUD story. Rob Maurer looked into the original tweet a bit. I am not worried about this at all. Jump to the 10:10 mark to see what Rob has to say.

 

[TruckElectric]

What does this have to do with CT? Or electric Trucks? I thought Reddit was the everything forum...

Stick with posts filed under General Cybertruck Topics

This post was in General Tesla News and TSLA Investing Discussions

Another tip - do not click on post you are not interested in.

 

[Crissa]

The SEC - and every organization in our legal system - have to investigate when reports are brought to them.

Even the Administrator here would have to 'investigate' if someone reported that someone else was using the forum to transmit crimes. It's part of the duty of care.

So I wouldn't put anything into it. They'll have to investigate whether he was involved in a pump and dump because someone reported it.

On one hand, yes, it is, but on the other, what matters is if someone was doing it to create a pyramid scheme to dump their own position or not. Just being exuberant about something isn't illegal and can't be.

-Crissa

 

[TruckElectric]

The SEC - and every organization in our legal system - have to investigate when reports are brought to them.

They don't have to investigate. First they need to assess if there is any wrongdoing, broke any laws.

 

[Crissa]

They don't have to investigate. First they need to assess if there is any wrongdoing, broke any laws.

That's literally the start of any investigation, yes. "Is there possible liability here? Yes/no?" The answer in this case is, alas, yes.

But like I said, he or a confidant would have had to had a position in the security, and then sold or made a deal based upon the change influenced by using his platform.

Personally, I don't think that's likely.

-Crissa

 

[TruckElectric]

That's literally the start of any investigation, yes. "Is there possible liability here? Yes/no?" The answer in this case is, alas, yes.

But like I said, he or a confidant would have had to had a position in the security, and then sold or made a deal based upon the change influenced by using his platform.

Personally, I don't think that's likely.

-Crissa

Elon has no respect for the SEC

 

[Crissa]

And I think he has good reason to dislike them. They're used politically rather than in a more hands-off approach.

If they were given a better budget so that they could see these market manipulations digitally instead of relying upon paper, maybe we'd see them applied more dispassionately.

But that's not the world we live in, alas.

We probably need to add a securities transaction fee and use part of it to fund things like this, and make more of these investigations transparent. (And reduce the profits from massive anti-liquidity sales, like those that use data from Robinhood.)

-Crissa

 

[MEDICALJMP]

Since when does the SEC regulate cryptocurrency?

 

[Crissa]

Since when does the SEC regulate cryptocurrency?

It's a security. It's an exchange. They regulate purchasing and selling currencies, too.

-Crissa

 

[Newton]

i don't see a problem with his tweets...
you are allowed to talk up, or down a stock if you arnt part of the company, or have a close in with someone. i think

 

[Crissa]

And aren't lying, hiding your investment in the stock, being paid to...

-Crissa