Tesla founder Elon Musk, one of the richest business people in the world, is known for his closeness to the cryptocurrency industry. Musk, who has investments in Dogecoin and Bitcoin, received bad news recently. According to the latest information, the US Securities and Exchange Commission (SEC) has launched an investigation against Elon Musk regarding the purchase of Twitter.
Musk, who purchased Twitter for 44 billion dollars as of 2022, changed Twitter’s name and logo to “X” as the process progressed. Some crypto platforms such as Binance also helped Elon Musk for the Twitter acquisition. Elon Musk’s closeness with crypto actors may have caused the crypto-hating SEC to take action.
Is SEC Afraid of Crypto Payment Option Coming to X (Twitter)?
It was recently claimed that Elon Musk was preparing to add an e-commerce area to X. Having a shopping section on X can help actively use crypto payments. Although the real reason why the SEC is currently targeting Elon Musk is unknown, it seems likely that it is again a crypto-related issue.
*Stay tuned for the latest developments!