Dogecoin Co-Creator, Elon Musk Blast SEC For Denying Inherent Value Of Cryptos: 'Return All The Taxes…You Horrific Evil Hypocrites'
Portfolio Pulse from Mehab Qureshi
The SEC's argument in a federal court case against Coinbase that cryptocurrencies lack any inherent value has drawn criticism from Tesla CEO Elon Musk and Dogecoin co-creator Billy Markus. The SEC's stance is based on federal securities laws and the 'Howey Test'. Coinbase's chief legal officer, Paul Grewal, dismissed the SEC's arguments. Earlier, Coinbase received a Wells Notice from the SEC over potential violations of U.S. securities law.
October 09, 2023 | 3:39 am
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NEGATIVE IMPACT
Coinbase is under scrutiny from the SEC, which could potentially impact its operations and reputation.
The ongoing legal proceedings and the SEC's stance could negatively impact Coinbase's operations and reputation, potentially leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla CEO Elon Musk's criticism of the SEC's stance on cryptocurrencies could potentially impact Tesla's relationship with the regulatory body.
Elon Musk's criticism of the SEC could potentially strain Tesla's relationship with the regulatory body, which could negatively impact the company's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50