SEC to Sue Tesla CEO Elon Musk, Why Is It Important For Cryptoworld

  • SEC filed a lawsuit against Tesla CEO Elon Musk for fraud. Immediately after that, the Commission held a press conference, disclosing the details of the case

Cover image via U.Today

On Thursday, Sept. 27, SEC filed a lawsuit against Tesla CEO Elon Musk for fraud. Immediately after that, the Commission held a press conference, disclosing the details of the case.

According to a SEC complaint, Musk issued “false and misleading” statements when he tweeted, “am considering taking Tesla private at $420. Funding secured" on Aug. 7. SEC wants to have Musk barred from serving as an officer or director of a public company.

Recently, SEC attorney Owen Donley spoke about the similarities of cryptocurrencies and cannabis stocks, pointing out that both of the industries are overwhelmingly fraudulent.

About the author

Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

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