Tech entrepreneur Elon Musk has taken to his official account on the X platform to comment on his recent victory in the investigation into his $44 billion acquisition of the platform.
DOGE Founder and XRP Community Congratulate Musk
The US Supreme Court has rejected a request by lawyers for the US Securities and Exchange Commission to impose sanctions on the tech giant for failing to appear at a court-ordered testimony.
Musk did not appear to testify on September 10; however, he did appear on October 3. He agreed to reimburse the SEC team for travel expenses and pay $2,923.
In today's tweet, Musk cited a tweet from X user @DimaZeniuk, who spread the news that the court sided with the Tesla CEO on the matter. The user congratulated the tech billionaire on his victory against the regulator.
When Musk quoted that tweet, he stated: “SEC. The middle word is definitely ‘Elon,’ but I can never remember what the other two mean.”
Dogecoin founder Billy Markus, known as Shibetoshi Nakamoto on social media and a pen pal of Musk, commented in support of him, saying: “What a nasty organization.” Several members of the XRP and DOGE communities joined Markus.
XRP fans are starting to recall their hatred of the SEC due to the long-running lawsuit the SEC initiated in 2020 against Ripple when the regulator accused the company of selling XRP as an unregistered security to both retail investors on exchanges and financial institutions.
The account “Tesla Owners Silicon Valley” asked whether DOGE (Department of Government Efficiency, which Musk currently leads) — Musk’s new unit — could “create reform here.”
Despite the Tesla CEO's court victory, however, the SEC's investigation into his recent Twitter acquisition continues.
SEC Chief Gensler Announces Resignation
In a recent discussion thread on X addressed to the global cryptocurrency and financial community, the current chairman of the Securities and Exchange Commission, Gary Gensler, announced that he will step down on January 20, 2025.
The XRP community reacted positively to the announcement. Ripple CEO Garlinghouse tweeted that he was thankful for it on Thanksgiving Day this year. The next SEC chairman nominee is still unknown.
