Whistleblower News: Bitcoin Bubble, Tesla Backlash
SEC Could Face Backlash if Elon Musk Is Exonerated
For months, the U.S. Securities and Exchange Commission had been quietly and methodically scrutinizing Tesla Inc.
Then Elon Musk tweeted, forcing the SEC to change its approach in an investigation that’s now putting intense pressure on the regulator.
Actions probed by the SEC aren’t typically so public and the agency prefers to keep it that way until it concludes whether laws were broken. The opposite has happened with Tesla, which has quickly become the highest-profile inquiry of SEC Chairman Jay Clayton’s tenure. One resulting sentiment within the SEC: The agency will take a beating from politicians and in the media if Musk avoids a sanction, a person familiar with the matter said.
“This is so visible that it’d be hard for the SEC not to do something,” said James Cox, a professor at Duke University School of Law. “There’s a lot of pressure on the SEC here.” read more »
How Bitcoin's Crash Compares to History's Biggest Bubbles
Bitcoin’s dramatic rise and fall has left many investors wondering whether the cryptocurrency is destined to enter the history books as one of the world’s biggest bubbles. After an almost 60-fold increase over the past three years to nearly $20,000 in December, Bitcoin has tumbled by about 70 percent from its peak on concern that regulatory and security hurdles will prevent widespread adoption. read more »
