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Elon Musk Gets Called A Twitter Twit

The US Securities and Exchange Commission has informed Tesla that Elon Musk violated a judicial policy twice that necessitates for him to get any tweets approved by corporate attorneys before going ahead and tweeting them.

Musk faced a lot of backlashes after his single-word tweet in agreement with CryptoWhale’s tweet regarding Tesla “dumping” their remaining Bitcoin holdings. He replied to the tweet saying, “Indeed.” This action caused Bitcoin’s value to plummet.

Musk, in an attempt to fix some of the damage, later clarified via a tweet saying that Tesla did not sell any Bitcoin.
It is reported by the Wall Street Journal that such violations occurred in the years 2019 and 2020. The first violation was regarding solar roof manufacture volumes, the second regarding the company’s share price.

Musk was charged with a $20 million penalty and prompted to stand down as Tesla chairman, for the next three years following a fraud charge originating from a marijuana-related tweet in 2018 about privatizing the company with Saudi financing.

Musk was accused by the SEC for recurrent violations of the oversight contracted and said that Tesla has not fulfilled its required duties by order of the court. Tesla disagreed in response to this saying that the tweets being targeted did were not related to the agreement terms and faulted the Bureau of harassment.

Musk was previously praised after Tesla invested in $1.5 worth of Bitcoin, announcing that the company would start acknowledging said currency as payment for its cars.

This was all until May 16th when he faced backlash for backtracking on the cryptocurrency-in-exchange-for-cars policy due to Bitcoin’s harmful environmental effects. That was succeeded by him implying that Tesla was planning to sell its Bitcoin holdings – an action that became responsible for Bitcoin plummeting. This move was also blamed for exacerbating the current declining market.

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