Elon Musk comments on rumours of SEC investigation into his Dogecoin tweets

Tesla founder Elon Musk did not confirm or deny the rumors that the U.S. Securities and Exchange Commission (SEC) has opened an investigation into his tweets about Dogecoin.

“I hope they do. It would be awesome,” he commented on one of the messages.

I hope they do! It would be awesome 🤣🤣

— Elon Musk (@elonmusk) February 25, 2021

In 2018 the SEC sued the entrepreneur for allegedly misleading statements and, as part of a settlement, forced him to step down as Tesla chairman and pay a fine of $20 million.

“I do not respect the SEC,” Musk said at the time.

He has repeatedly posted on Twitter memes featuring the altcoin symbol—the Shiba Inu dog. The price of the coin typically rose in response.

In early February, the Tesla CEO posted a series of tweets about Dogecoin, which boosted the token price by almost 50%.

On Wednesday, February 24, Musk again posted a dog image on Twitter — the price of the coin rose.

Literally pic.twitter.com/XBAUqiVsPH

— Elon Musk (@elonmusk) February 24, 2021

Earlier, Musk urged large holders of Dogecoin to sell some of their coins to avoid centralization. More than 28% of the token’s circulating supply or 36.8 billion DOGE are concentrated at a single address.

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