Türkçe
Español
In 2022, Elon Musk made headlines by purchasing Twitter and renaming it X, only to find himself under the scrutiny of the SEC once again. The SEC has initiated a lawsuit against Musk for potential irregularities related to this high-profile acquisition, and the legal proceedings are currently ongoing. Given Musk’s deep involvement in cryptocurrencies, the sale of Twitter captured significant investor interest during that period. Now, the SEC is seeking sanctions against him.
Elon Musk’s Controversial Journey
The billionaire became notably popular in the crypto space due to his actions in 2021. Musk, who was actively involved in the GameStop incident, later distanced himself from cryptocurrencies. Rumors about X incorporating crypto into its payment services have now faded amid the challenging legal process Musk faces.
Returning to our primary topic, the SEC is requesting sanctions because Musk failed to attend court sessions. He argues that the SEC is harassing him through legal summonses. After acquiring Twitter for $44 billion, Musk missed a scheduled testimony on September 10, informing the SEC only three hours before that he would not attend.
His testimony has been postponed to October 3, and if he fails to appear again, he could face serious consequences. Musk had previously filed a lawsuit against the SEC, claiming harassment for refusing to participate in the investigation.
