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Musk Says He Hopes Rumors He's in the SEC's DOGE House Are True
Should the rumor be true, evidence of the CEO's DOGE boosting won't be hard to find.
Tesla CEO Elon Musk tweeted his hope that rumors are true that the U.S. Securities and Exchange Commission is investigating his frequent tweeting about dogecoin (DOGE). "It would be awesome," he said
STORY CONTINUES BELOW
I hope they do! It would be awesome 🤣🤣
— Name (@elonmusk) February 25, 2021
- The CEO of the electric vehicle maker, who has a hate-hate relationship with the SEC, seems to relish the idea of another go-round with the regulatory body. In 2018, Musk famously said, "I do not respect the SEC."
- Because the SEC doesn't consider the meme-based cryptocurrency a security, an investigation by that body into market manipulation of DOGE would seem unlikely. However, because the SEC is known to be monitoring Musk's social media output as part of a settlement of charges that he'd committed securities fraud for misleading tweets, it's not out of the question.
- Should the SEC start looking for evidence the CEO has been a vocal booster of DOGE, which is represented by a Shiba Inu dog, such proof wouldn't be hard to find. At one point describing himself as the "dogecoin CEO," Musk has been a frequent tweeter of memes boosting DOGE. While other parents might buy their child a puppy, Musk tweeted earlier this month that he had bought his nine-month-old son a DOGE.
- Musk's most recent DOGE tweet was Thursday morning:
Literally pic.twitter.com/XBAUqiVsPH
— Name (@elonmusk) February 24, 2021
- And, per usual, the price of the cryptocurrency rose in response to Musk's tweet, sort of like Pavlov's DOGE.
- It wasn't immediately clear where the rumor of an SEC investigation started. It's possible it is a false rumor and an attempt to manipulate the market. If that proves to be the case, the Tesla CEO will be denied the pleasure of his anticipated DOGE fight with the SEC.
Read more: SEC Should Monitor Tesla’s Elon Musk for Market Manipulation: Roubini
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
