From Breakingviews - Elon Musk’s Doge barks up SEC’s tree
Representations of cryptocurrencies Bitcoin, Ethereum and DogeCoin are placed on PC motherboard in this illustration taken, June 29, 2021.
WASHINGTON, April 5 - Elon Musk’s Dogecoin yapping might be loud enough to hear in Washington. The token’s value soared as much as 30% earlier this week after Musk-owned Twitter featured aon the social media service’s homepage instead of its blue bird logo. It could help inform the crypto-skeptical U.S. Securities and Exchange Commission as it considers how to police the industry.
Musk first lauded Dogecoin in 2019, posting on Twitter before he bought it that it could be his “fav cryptocurrency.” Prices jumped 16% that day. After he called the token a “” while hosting “Saturday Night Live” in May 2021, it swiftly lost a third of its value amid high trading volume. Musk said that year that he had invested in Dogecoin, but it’s unclear how much, if any, he holds today.accusing him of running a Dogecoin-based pyramid scheme.
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