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Musk’s DOGE SEC initiative aims to expose SEC fraud and abuse. DOGE SEC asks for public help uncovering SEC misconduct and waste. SEC and Binance request a 60-day pause in ongoing legal cases. Elon Musk has set his sights on the Securities and Exchange Commission (SEC) with a new initiative aimed at investigating fraud and abuse within the agency. Announced through a newly created “DOGE SEC” account, Musk’s Department of Government Efficiency is calling on the public to report any wrongdoing within the SEC. For those unaware, the White House’s Department of Government Efficiency, or DOGE, was set up by President Donald Trump on January 20. Its goal is to reduce federal spending, with billionaire Musk overseeing the task force. “We are moving fast, so we will make mistakes, but we will fix the mistakes very quickly,” Musk had said previously. Musk SEC Fraud Inquiry Targets Agency Abuses The verified DOGE SEC account, which is affiliated with Musk’s operation, went live on Monday to gather information on SEC “waste, fraud, and abuse.”  Its post on the X platform read, “DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud and abuse relating to the Securities and Exchange Commission.” Musk has long been critical of the SEC and has now vowed to uncover possible wrongdoing within the agency. The move is a continuation of Musk’s earlier investigations into other government agencies like the Federal Reserve and the Department of Justice.  Related: Deaton Fires Back at Bitcoin Maxi for Claiming XRP is a ‘Centrally Controlled Security’ In response to the tweet, Coinbase’s Chief Legal Officer, Paul Grewal, proposed a rule that would allow defendants who successfully defeat SEC lawsuits to recover all their attorney fees and costs from the Commission’s budget.  Critics also…

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Filed under: News - @ February 18, 2025 7:19 am