Elon Musk says SEC probe of Dogecoin tweets would be ‘awesome’

Elon Musk is ready for a rematch with the Securities and Exchange Commission.

The world’s second-richest man was responding to unconfirmed chatter about the alleged SEC investigation.

Regulators fined him $20 million and forced 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 private at $420 a share.

The surprise claim caused Tesla’s shares to surge, but the SEC found Musk hadn’t locked down any financing for the purported deal and that he settled on the $420 price because he “had recently learned about the number’s significance in marijuana culture.”

Musk’s Twitter posts have indeed helped drive up the price of Dogecoin, whose value has surged more than 800 percent this year even though it started as a joke based on an internet meme of a Shiba Inu dog.

Dogecoin was recently trading down 9.7 percent at about 5.1 cents amid the hubbub about the alleged SEC probe.

Category: Technology

Source: New York Post