{"id":136779,"date":"2024-12-14T02:39:55","date_gmt":"2024-12-13T19:39:55","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=136779"},"modified":"2024-12-14T02:39:55","modified_gmt":"2024-12-13T19:39:55","slug":"elon-musk-reveals-sec-settlement-demand-mocks-gary-gensler","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=136779","title":{"rendered":"Elon Musk reveals SEC &#8216;settlement demand,&#8217; mocks Gary Gensler"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Elon Musk has revealed that he received a \u201csettlement demand\u201d from the Gary Gensler-run SEC in connection with his Twitter takeover \u2014 the latest in a <a href=\"https:\/\/nypost.com\/2024\/04\/29\/business\/supreme-court-wont-hear-elon-musks-tesla-tweets-sec-settlement-appeal\/\">long-running public feud between the billionaire Tesla boss and the agency.<\/a><\/p>\n<p>Musk posted a letter from his lawyer, Alex Spiro, to Gensler on Thursday stating that the billionaire had been told to \u201cagree within 48 hours to either accept a monetary payment or face charges on numerous counts.\u201d<\/p>\n<p>\u201cOh Gary, how could you do this to me?\u201d <a href=\"https:\/\/x.com\/elonmusk\/status\/1867357433493872874?s=61\">Musk wrote in an X post<\/a> that contained a copy of the letter.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Gary Gensler is set to resign when President-elect Trump takes office. <span class=\"credit\">Samuel Corum \u2013 CNP \/ MEGA<\/span><\/figcaption><\/figure>\n<p>In the letter, Spiro said the demand was related to \u201ccertain purchases, sales and disclosures of Twitter shares\u201d and was the latest sign of what he called \u201cmore than six years of harassment of Mr. Musk by the Commission.\u201d Spiro also disclosed that the SEC has \u201creopened\u201d a probe into Musk\u2019s brain-chip startup Neuralink.<\/p>\n<p>The SEC sent Musk a settlement offer on Tuesday, but extended the deadline until this coming Monday after it received a request for more time, a source familiar with the situation told Reuters.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>If the two sides aren\u2019t able to reach an agreement, the agency could issue a \u201cWells notice\u201d ahead of potential enforcement action, <a href=\"https:\/\/www.cnbc.com\/2024\/12\/13\/elon-musk-says-sec-sent-settlement-demand-after-twitter-deal-probe.html\">CNBC reported<\/a>, citing a source familiar with the situation.<\/p>\n<p>Spiro suggested that the SEC\u2019s latest actions against Musk may have been politically motivated. The lawyer also said he had refused a demand to give testimony about the situation.<\/p>\n<p>\u201cWe demand to know who directed these actions \u2014 whether it was you or the White House,\u201d Spiro wrote to Gensler.<\/p>\n<p>In a separate post, Musk shared an AI-generated photo depicting Gensler as a snail-like creature wearing a suit.<\/p>\n<p>\u201cAsked @Grok to draw a picture of @GaryGensler. Very flattering, I think!\u201d Musk wrote.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The SEC cracked down on Musk in 2018 over the infamous episode in which he claimed to have <a href=\"https:\/\/nypost.com\/2023\/01\/17\/elon-musk-heads-to-trial-over-2018-funding-secured-tesla-tweet\/\">\u201cfunding secured\u201d to take Tesla private at $420 per share<\/a>.  <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Elon Musk posted an AI-generated picture depicting Gary Gensler as a snail. <span class=\"credit\">@elonmusk\/X<\/span><\/figcaption><\/figure>\n<p>Musk also targeted the SEC in another post, writing that it was \u201cjust another weaponized institution doing political dirty work.\u201d<\/p>\n<p>\u201cIt is the policy of the SEC to conduct investigations on a confidential basis to preserve the integrity of its investigative process,\u201d an agency spokesperson said in a statement. \u201cThe SEC therefore does not comment on the existence or nonexistence of a possible investigation.\u201d<\/p>\n<p>The SEC has been investigating Musk over his actions in 2022 during his $44 billion acquisition of Twitter, which he has since renamed X.<\/p>\n<p>Musk revealed in April 2022 that he had purchased a 9% stake in Twitter. <\/p>\n<p>The move drew scrutiny from the SEC, which questioned why he hadn\u2019t disclosed the stock buy within 10 days of crossing a 5% ownership threshold as required by law.<\/p>\n<p>The SEC also cracked down on Musk in 2018 over the infamous episode in which he claimed to have <a href=\"https:\/\/nypost.com\/2023\/01\/17\/elon-musk-heads-to-trial-over-2018-funding-secured-tesla-tweet\/\">\u201cfunding secured\u201d to take Tesla private at $420 per share<\/a>. <\/p>\n<p>The deal never materialized.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Elon Musk\u2019s attorney Alex Spiro blasted the SEC over its actions. <span class=\"credit\">Matthew McDermott<\/span><\/figcaption><\/figure>\n<p>Musk eventually agreed to a settlement that required him and Tesla to each pay $20 million fines and for him to step down as chairman of the firm. <\/p>\n<p>The billionaire also entered a consent decree in which his tweets and other public communications had to be pre-approved by company attorneys.<\/p>\n<p>After years of clashing with federal regulators under the Biden administration, Musk emerged as a major donor adviser to President-elect Donald Trump during the 2024 election cycle.<\/p>\n<p>Trump has tapped Musk and fellow ally Vivek Ramaswamy to co-lead the so-called \u201cDepartment of Government Efficiency,\u201d or DOGE, which is\u00a0<a href=\"https:\/\/nypost.com\/2024\/12\/02\/opinion\/musk-vivek-face-target-rich-environment-for-wacky-regs-and-waste\/\">tasked with slashing the federal budget and unnecessary regulations.<\/a><\/p>\n<p>Investors have taken Musk\u2019s close ties to Trump as a bullish sign for his various businesses. Musk\u2019s personal net worth has swelled <a href=\"https:\/\/nypost.com\/2024\/12\/11\/business\/elon-musks-net-worth-passes-400-billion-for-first-time-in-history\/\">above $400 billion \u2014 the highest figure on record.<\/a><\/p>\n<p>Gensler \u2014 who has regularly clashed with the tech industry over his harsh crackdown on cryptocurrencies \u2014 said he would resign as SEC chair following Trump\u2019s election win.<\/p>\n<p>Trump has nominated Paul Atkins, a staunch ally of the crypto sector, to replace Gensler.<\/p>\n<p><em>With Post wires<\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2024\/12\/13\/business\/elon-musk-reveals-sec-settlement-demand-mocks-gary-gensler\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk has revealed that he received a \u201csettlement demand\u201d from the Gary Gensler-run SEC in connection with his Twitter takeover \u2014 the latest in a long-running public feud between &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=136779\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-136779","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/136779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=136779"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/136779\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=136779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=136779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=136779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}