Elon Musk may be under scrutiny for promoting DOGE

Tesla CEO Elon Musk may be under investigation by the U.S. Securities and Exchange Commission over tweets in which he promoted Dogecoin to cryptocurrency investors.

Rumors of the investigation were initially reported on Twitter by First Squawk, an audio-based financial newswire. The rumor has not been confirmed. However, there is enough context to speculate on an investigation.

It is already known that the SEC is monitoring Musk’s tweets. In 2018, Musk exaggerated the likelihood of a private Tesla offering, leading to a settlement with the SEC. As part of the resulting settlement, the SEC began to restrict and pre-approve Musk’s tweets concerning business activity beginning in 2019.

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