• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Dogecoin
Nexo

Crypto-Law Founder Warns Elon Musk Over Dogecoin Promotional Tweets

Saeed Hassan by Saeed Hassan
1 month ago
in Dogecoin
0
Advertisement

CryptoLaw firm founder and host John Deaton has warned Elon Musk that his crypto project could face the same legal problem over his frequent tweets promoting Dogecoin as Ripple (XRP) suffers. Deaton mentioned the wealthiest man in the world while responding to the tweet of a person named JayB, who criticized SEC’s Gary Gelson over the Ripple’s suit.

The user, in the tweet, complains that SEC’s chairman has no fair policy for all virtual assets. They urged Ripple, which has over 300 connections with financial institutions outside the U.S, has been facing legal barriers while Elon Musk has been freely controlling the price of his Dogecoin via tweets.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Crypto Scam Victims Can Recover Their Funds With MetaMask, Asset Reality Mechanism

Tweet of the Jay-B reads;

Elon tweets about $DOGE & it jumps #Ripple has a deal with just about every major financial institution & $XRP still gets suppressed bc Gary Gensler is holding them, hostage .. thanks for your protection Gary.

It does not mean that twitter’s random user wants SEC to sue Elon Musk, but Deaton has expressed his doubts and warned the owner of SpaceX, Tesla, Starlink, and the other two companies. He believes that SEC officials can recognize Dogecoin as an investment contract operating under Musk and his companies.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

He said;

Be careful @elonmusk because @GaryGensler and the SEC might try and call #DOGE coin an investment contract with you and your companies.

Bitcoin Price Chart
Bitcoin is currently trading above $29,000 | Source: BTC/USD price chart from Tradingview.com

How Elon Musk’s Tweets Affected Dogecoin Price?

On the other hand, Elon Musk’s effect on the Dogecoin price seems minor. The impact of the promoting tweets pumped the coin price for only 23 seconds.

Musk used the word “Trillionaire” jokingly in his tweets. He tried to troll the users who widely use “Billionaire” with his name as a pejorative.

Notably, SEC previously issued a letter addressing Elon Musk on April 4, asking why he did not publicly declare his Twitter stake sooner. The SEC’s letter reads,

Please advise us why the schedule 13G does not appear to have been made within the required ten days from the date of acquisition as required by rule 13d-1(c), the rule upon which you represented that you relied to make the submission.

Related Reading | Paraguay Approves Crypto Regulation Bill Via 40-12 Vote

The Commission required him to report the owned stakes within the next ten days, and similarly, 9.2% stakes appeared to be acquired by Musk on April 25, worth $44 billion. 

According to the rules, Musk was expected to disclose his holdings around March 25 because investors are legally required to report their holdings ten days after exceeding 5%. Alternatively, Musk sent in the 13G form to announce his holdings late on April 4.

Furthermore, Security and Exchange Commission (SEC) stated it “may have additional comments” after Elon Musk responds.

Featured image from Pixabay and chart from TradingView.com

 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Saeed Hassan

Saeed Hassan

Saeed Hassan is a finance and cryptocurrency enthusiast who has been writing about Bitcoin and the blockchain since 2016. He is an author at Bitcoinist and NewsBTC, and he also runs his blog, where he writes about all things related to crypto and finance. In his spare time, Saeed enjoys playing cricket and watching Marvel series.

Related Posts

Elon Musk Dogecoin

I Support Dogecoin Because Tesla, SpaceX Warehouse Workers Asked Me To, Elon Musk

6 days ago
Dogecoin And Shiba Inu

SHIB vs DOGE: Shiba Inu Up 48% Over Past Week, While Dogecoin Sees Only 26% Gains

1 week ago
Dogecoin

Dogecoin Increasingly Tied To Terrorism And Child Sex Abuse Material, Research Shows

2 weeks ago
Dogecoin

Dogecoin Jumps 8% After Elon Musk Tweets He’s Buying The Dip

2 weeks ago
Dogecoin And Shiba Inu

Dogecoin Down 16%, Shiba Inu 12% As Crypto Market Burns

3 weeks ago
Dogecoin

Dogecoin Co-Creator Slams Elon Musk, Calls Him A ‘Grifter’ Who Can’t Code

1 month ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.