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The US Security and Exchange Commission (SEC) Is Investigating Whether Elon Musk Is Suspected Of Manipulating Dogecoin

Frequent "carrying goods" recently, the SEC investigates whether Musk is suspected of manipulating Dogecoin

Friday, 26 February 2021

/ by Ella Rose
The previous post posted by Tesla founder Elon Musk allowed Dogecoin to hit a record high, rising to more than 500% . In response, the US Securities and Exchange Commission (SEC) is intervening and investigating whether Elon Musk is suspected of using his personal social media account influence to manipulate cryptocurrencies such as Dogecoin.

Elon Musk has been talking about cryptocurrency recently. It is reported that he did not seem to be interested in this technology before, but now he frequently publishes tweets about cryptocurrencies, and his interest in cryptocurrencies peaked last month. At that time, Tesla also bought Bitcoin worth 1.5 billion U.S. dollars.

Although Tesla invested in Bitcoin, Elon Musk said that he is a big fan of Dogecoin , so he posted a lot of Twitter posts about Dogecoin. Although these posts seem to be joking, they allowed Dogecoin to rise above 500% in the last month.

When asked why he likes Dogecoin, Elon Mush simply replied that he "likes dogs and memes". It is worth mentioning that the American economist Nuriel Roubini once stated that before Tesla invested in cryptocurrency, Elon Musk’s posting on Bitcoin was a kind of “market manipulation” behavior and should be subject to U.S. securities trading. Commission (SEC) investigation. And now the SEC really started investigating the matter.

Regarding this investigation incident, Elon Musk himself just reposted the news on Twitter and said: "I hope they do this, this is really great!"

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