December 11, 2023

SEC accuses Elon Musk of the DOGE pump

SEC accuses Elon Musk of the DOGE pump

Elon Musk has again attracted the attention of the Securities and Exchange Commission with his tweets about Dogecoin (DOGE).

Elon's tweetsA mask containing memes, pictures and mentions of Dogecoin is considered by the agency as a pump of an asset.

Publicly traded companies are regulatedagency and cannot provide stock price forecasts. However, DOGE – this is not a promotion, so Musk's tweets are unlikely to have violated any law or regulation.

Elon Musk has had clashes with the SEC before. At one point, the proceedings with the commission forced him to resign from the post of the Tesla board of directors.

Musk's tweets this month have been almost entirely dedicated to DOGE. After almost every publication, the price of DOGE soared by several percent (or tens of percent). 

The SEC has not yet officially confirmed or denied information about the charges against the head of Tesla.

Subscribe to ForkNews on Telegram to always stay up to date with the latest news from the world of cryptocurrencies