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<\/p>\nelon musk
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Elon Musk is ready for a rematch with the Securities and Exchange Commission.<\/p>\n
The billionaire Tesla chief appeared to welcome rumors that the agency was probing his Twitter posts about Dogecoin, his favorite meme-inspired cryptocurrency.<\/p>\n
“I hope they do! It would be awesome,” Musk tweeted Thursday, adding two emojis of a face crying with laughter.<\/p>\n
The world’s second-richest man was responding to unconfirmed chatter about the alleged SEC investigation. <\/p>\n
Financial news service First Squawk reported the probe’s existence in a Thursday tweet, citing unnamed “sources familiar with the matter.” But the outlet didn’t provide any further details and no other reports have confirmed the purported investigation.<\/p>\n
The speculation came more than two years after Musk’s famous Twitter-related tangle with the SEC. <\/p>\n
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.<\/p>\n
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\u2019s significance in marijuana culture.”<\/p>\n
Musk took a defiant stance toward the agency in a December 2018 “60 Minutes” interview, saying, “I do not respect the SEC.” He also tweeted a suggestive jab at the commission last July: “SEC, three letter acronym, middle word is Elon\u2019s.”<\/p>\n
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.<\/p>\n
Musk caused a spike on Wednesday by tweeting a photoshopped image of the cryptocurrency’s canine mascot planting a Dogecoin flag on the moon. He’s also moved the market by claiming he bought some Dogecoin for his infant son and raising concerns about “concentration” of the coin’s ownership.<\/p>\n
Dogecoin was recently trading down 9.7 percent at about 5.1 cents amid the hubbub about the alleged SEC probe.<\/p>\n
The SEC didn’t immediately respond to a request for comment early Friday.<\/p>\n