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![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
As the entire financial world is watching the explosion in Credit Suisse’s CDS rates with angst, bringing back memories of Bear Stearns’ failure back in 2008, the SEC just charged Kim Kardashian for failing to disclose the incentives offered to promote a crypto asset, leading to Elon Musk’s detractors calling for similar charges to be leveled against him for allegedly precipitating Dogecoin’s (DOGE) pump-and-dump.
Today @SECGov, we charged Kim Kardashian for unlawfully touting a crypto security.
This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn’t mean those investment products are right for all investors.
— Gary Gensler (@GaryGensler) October 3, 2022
To wit, the SEC has now charged Kim Kardashian for failing to disclose a payment of $250,000 in order to promote the EthereumMax (EMAX) token on social media. Additionally, Kardashian has agreed to “settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation.” Today’s development has, however, energized Elon Musk’s detractors, who claim that the CEO of Tesla has continued to run a pump-and-dump scheme vis-à-vis Dogecoin.
Did Musk illegally pump-and-dump Dogecoin? Match up his sales vs his public tweets.
Of course he also filed a 13G instead of a “D” on $TWTR after weeks of negotiations to join the board and did it 11 days late to buy the stock more cheaply and Gensler did NOTHING. https://t.co/ImvQGZDfTK
— Stanphyl Capital (@StanphylCap) October 3, 2022
Regardless of the optics around Elon Musk’s relentless promotion of Dogecoin, readers should note that the CEO of Tesla has likely dotted all of the proverbial i’s from a legal viewpoint and, as such,…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
