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Tesla CEO Elon Musk tweeted that he hopes rumors that the U.S. Securities and Exchange Commission is investigating his frequent tweeting about dogecoin (DOGE) are indeed accurate, saying, “It would be awesome.”
- 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."
- Since 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, as the SEC is known to be monitoring Musk's tweets 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 that 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, and 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:
- 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 speculation that the SEC is investigating Musk started from. It's possible it is a false rumor and is itself an attempt to manipulate the market. If that proves to be the case the Tesla CEO is likely to be let down, having been denied the pleasure of his anticipated DOGE fight with the SEC.
Read more: SEC Should Monitor Tesla’s Elon Musk for Market Manipulation: Roubini
