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category: news, politics, technology
tag: elon-musk-doge-records-questioning
In a rare move, Senator Jared Huffman, a staunch supporter of the US Securities and Exchange Commission’s recent lawsuit filings against billionaire Elon Musk, has subpoenaed Twitter records for theSpaceX CEO’s cryptic and potentially misleading tweets about the memecoin Dogecoin. Huffman claimed last year that Musk’s August 2018 tweet – “Am considering taking Tesla private at $420. Funding secured” – led to wild market speculation for several weeks, which he blamed for one of the most severe stock market losses Tesla had seen since its June 2017 public debut. Musk later reached a $40-million settlement with the SEC due to his previous statement: in September 2018, US District Judge Alison Nathan ordered Musk to pay royalties to the Securities and Exchange Commission. This recent development sheds light on the aggression that some officials still feel towards Musk, who has vowed to push for cryptocurrency regulation in the US.
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