Elon Musk may be investigated by the SEC for pump and dump of DOGE price
Tesla CEO Elon Musk has just posted a somewhat challenging tweet hoping that the US Securities and Exchange Commission (SEC) will investigate him for Dogecoin (DOGE) price manipulation behavior.
Elon Musk may be investigated by the SEC for “blowing the price” of DOGE
The CEO of the famous electric car company Tesla seems to want to once again make fun of the regulators. Earlier in 2018, Musk had stubbornly declared that I had no respect for the SEC.
Because DOGE coins are not considered a pure stock, it is not reasonable to investigate the currency’s driving behavior by the SEC.
cr. @Algarifma for the pic.
Thank you sister!
— Official* Pope of Muskanity 🖌 (@RationalEtienne) February 25, 2021
However, before that, the SEC was unhappy with tweets from Elon Musk and saw it as a way to manipulate market prices.
If the SEC is really looking for evidence that the Tesla CEO is trying to blow the DOGE price, this is not too difficult. Before that, Elon used to call himself the CEO of Dogecoin. While many parents are about to give their kids real pets, Musk tweeted that he bought DOGE for his 9-month-old baby.
On Thursday morning, Musk’s latest tweet about DOGE confirmed:
On the actual moon
— Elon Musk (@elonmusk) February 24, 2021
And as a matter of fact, the price of the digital currency quickly responded to Elon Musk’s flow.
It is still unclear whether the SEC is investigating Musk. However, it is most likely that this information is not real and aims to create waves in the market. On the contrary, if this is true, there’s a high chance that the Tesla CEO will be in big trouble because of his lack of cooperation.
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