Elon Musk Slams SEC After Scoring Partial Victory in Court, DOGE Founder Joins Him

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As a seasoned financial analyst with over two decades of experience under my belt, I find myself intrigued by the latest developments between Elon Musk and the Securities and Exchange Commission (SEC). The tech mogul’s victory in the probe into his $44 billion deal for acquiring X Platform is not only a testament to his resilience but also a reflection of the complex relationship between innovation and regulation.

Tech mogul Elon Musk, using his verified account on the X platform, voiced his thoughts on the recent investigation outcome regarding his $44 billion acquisition of the mentioned platform.

DOGE founder and XRP community congratulate Musk 

The U.S. Supreme Court has declined the legal team of the Securities and Exchange Commission’s petition to penalize the tech tycoon for not showing up for a court-mandated hearing.

On September 10, Musk was absent during the hearing, but he showed up for it on October 3. He consented to reimburse the SEC team for their travel expenses and ended up paying them $2,923.

Today, Elon Musk shared a tweet from user @DimaZeniuk, who announced that the court ruled in favor of Musk regarding the mentioned matter. The user extended their congratulations to the successful tech entrepreneur for his win against the regulatory body.

Elon Musk mentioned a tweet where he said, “SEC. The second and third words are clearly ‘Elon’s,’ but I always forget what the other two letters signify.

SEC: It’s clear that “Elon” is part of this abbreviation, but I always struggle remembering the rest – what do the other two letters represent? 🤔

— Elon Musk (@elonmusk) November 23, 2024

In a casual, conversational style, Billy Markus, also known as Shibetoshi Nakamoto on social media and a friend to Elon Musk, voiced his opinion, saying “They can be quite bothersome.” This remark was echoed by several members from the XRP and DOGE communities, following in the footsteps of Markus.

what an annoying organization

— Shibetoshi Nakamoto (@BillyM2k) November 23, 2024

Supporters of XRP started rekindling their disdain towards the Securities and Exchange Commission (SEC) due to the ongoing legal dispute initiated by the SEC in 2020 against Ripple. The regulatory body accused Ripple of illegally selling XRP as an unregistered security, not only to individual investors through exchanges but also to financial institutions.

As a researcher, I recently pondered about the inquiry posted by the “Tesla Owners Silicon Valley” account regarding Elon Musk’s latest project, D.O.G.E (Department of Government Efficiency). Specifically, they asked if this new endeavor has the potential to instigate change or bring reform herein?

Regardless of Elon Musk’s court victory, the Securities and Exchange Commission (SEC) is still investigating his latest Twitter purchase.

SEC’s boss Gensler announces resignation

Recently, Gary Gensler, who currently serves as chairman of the Securities and Exchange Commission, announced in a statement to the worldwide crypto and financial sectors that he plans to step down from his role on January 20, 2025.

There was a favorable response from the XRP enthusiasts regarding the announcement. Brad Garlinghouse, Ripple’s CEO, expressed gratitude for it on Thanksgiving Day this year. As for who will be the next SEC chair, that remains unclear at this point.

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2024-11-23 11:44