Elon Musk is prepared for a rematch with the Securities and Alternate Fee.
The billionaire Tesla chief appeared to welcome rumors that the company was probing his Twitter posts about Dogecoin, his favourite meme-inspired cryptocurrency.
“I hope they do! It could be superior,” Musk tweeted Thursday, including two emojis of a face crying with laughter.
The world’s second-richest man was responding to unconfirmed chatter concerning the alleged SEC investigation.
Monetary information service First Squawk reported the probe’s existence in a Thursday tweet, citing unnamed “sources aware of the matter.” However the outlet didn’t present any additional particulars and no different experiences have confirmed the purported investigation.
The hypothesis got here greater than two years after Musk’s well-known Twitter-related tangle with the SEC.
Regulators fined him $20 million and compelled him to step down as Tesla’s board chairman in September 2018 after he tweeted that he had “funding secured” to take the electric-car maker personal at $420 a share.
The shock declare precipitated Tesla’s shares to surge, however the SEC discovered Musk hadn’t locked down any financing for the purported deal and that he settled on the $420 worth as a result of he “had just lately realized concerning the quantity’s significance in marijuana tradition.”
Musk took a defiant stance towards the company in a December 2018 “60 Minutes” interview, saying, “I don’t respect the SEC.” He additionally tweeted a suggestive jab on the fee final July: “SEC, three letter acronym, center phrase is Elon’s.”
Musk’s Twitter posts have certainly helped drive up the worth of Dogecoin, whose worth has surged greater than 800 % this yr regardless that it began as a joke based mostly on an web meme of a Shiba Inu canine.
Musk precipitated a spike on Wednesday by tweeting a photoshopped image of the cryptocurrency’s canine mascot planting a Dogecoin flag on the moon. He’s additionally moved the market by claiming he bought some Dogecoin for his infant son and elevating issues about “concentration” of the coin’s ownership.
Dogecoin was just lately buying and selling down 9.7 % at about 5.1 cents amid the hubbub concerning the alleged SEC probe.
The SEC declined to remark Friday.