Elon Musk

<p class="is-style-lead">A crypto influencer is scrutinizing <a href="https://crypto.news/fake-elon-musk-crypto-giveaway-scams-flood-tiktok/" rel="noopener noreferrer nofollow">Elon Musk</a> for suspending an XRP-related account on X, the platform formerly known as Twitter.</p>
<p class="is-style-default">An X user known as Crypto Eri directly contacted Musk to clarify whether the account suspension was a mistake.</p>
<p>The flagged account, with the username @digitalassetbuy, was known for its strong support of <a href="https://crypto.news/price/xrp/" data-type="link" data-id="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP</a>, the native digital currency of Ripple Labs Inc.</p>
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   <p lang="en" dir="ltr">Not cool. <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@elonmusk</a>, I hope this was a mistake. <a href="https://t.co/lcjpN5tZcE" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/lcjpN5tZcE</a></p>— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) <a href="https://twitter.com/sentosumosaba/status/1710243769034186841?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 6, 2023</a>
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<p>XRP has been surrounded by controversies and legal challenges, including a <a href="https://www.sec.gov/news/press-release/2020-338" target="_blank" rel="noopener noreferrer nofollow">lawsuit</a> filed by the U.S. Securities and Exchange Commission (<a href="https://crypto.news/sec-chair-gary-gensler-scrutinized-over-crypto-rulemaking-and-ftx-ties/" rel="noopener noreferrer nofollow">SEC</a>), alleging that XRP is an unregistered security.&nbsp;</p>
<p>Despite these <a href="https://crypto.news/two-more-us-sec-attorneys-withdraw-from-xrp-lawsuit/" rel="noopener noreferrer nofollow">challenges</a>, XRP has maintained a dedicated group of supporters who remain hopeful about its prospects.</p>
<p>The @digitalassetbuy account provided a platform for XRP enthusiasts to share information, exchange perspectives, and engage in cryptocurrency discussions. No reason was given for the sudden suspension.</p>
<p>Musk has previously touted himself as a “free speech absolutist,” promising X users less censorship. Reports indicate that both <a href="https://www.latimes.com/business/technology/story/2023-04-27/hate-speech-twitter-surged-since-elon-musk-takeover" data-type="link" data-id="https://www.latimes.com/business/technology/story/2023-04-27/hate-speech-twitter-surged-since-elon-musk-takeover" target="_blank" rel="noopener noreferrer nofollow">hate speech</a> and <a href="https://www.independent.co.uk/tech/elon-musk-twitter-turkey-censorship-b2347509.html" data-type="link" data-id="https://www.independent.co.uk/tech/elon-musk-twitter-turkey-censorship-b2347509.html" target="_blank" rel="noopener noreferrer nofollow">censorship</a> have spiked since Musk took the helm.</p>
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   <p lang="en" dir="ltr">Starlink has been told by some governments (not Ukraine) to block Russian news sources. We will not do so unless at gunpoint.<br><br>Sorry to be a free speech absolutist.</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1499976967105433600?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 5, 2022</a>
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<p>While some individuals defended Musk, suggesting that the suspension aimed to prevent potential scams, the lack of response from X officials has given rise to various speculations. In response to a suggestion that the suspensions were preventive measures against scammers, Crypto Eri and other crypto enthusiasts maintain that the account suspension is unjust.</p>
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   <p lang="en" dir="ltr">It's time <a href="https://twitter.com/X?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@X</a> started revealing which exact rule is broken when accounts get suspended. And it's time people get a chance to remedy the situation in case of a mistake, the same day. Not months after. <br><br>Please fix this situation <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@elonmusk</a> and <a href="https://twitter.com/Support?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@support</a>. Look into <a href="https://twitter.com/digitalassetbuy?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@digitalassetbuy</a>…</p>— Oskar Arnarson (@oskararnarson) <a href="https://twitter.com/oskararnarson/status/1710315488293650718?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 6, 2023</a>
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<p>You might also like: <a href=" https://crypto.news/fake-elon-musk-crypto-giveaway-scams-flood-tiktok/ " rel="noopener noreferrer nofollow"> Fake Elon Musk crypto giveaway scams flood TikTok </a></p>
<p>John Deaton, a lawyer representing XRP holders, raised a crucial question: is this an isolated incident or a resurgence of censorship within the X community?&nbsp;</p>
<h2 class="wp-block-heading" id="musk-faces-sec-scrutiny">Musk faces SEC scrutiny</h2>
<p>Recent <a href="https://www.cnbc.com/2023/10/05/sec-sues-to-force-musk-to-testify-in-twitter-probe.html" target="_blank" rel="noopener noreferrer nofollow">reports</a> reveal that the SEC is investigating Musk for his $44-billion acquisition of Twitter, which he later renamed X.</p>
<p>The inquiry specifically delves into whether Musk violated federal securities regulations in relation to his stock acquisitions, as well as the statements and filings he made regarding the X acquisition.</p>
<p>In March 2022, Musk acquired a 9.2% stake in Twitter, making him the majority shareholder. However, this purchase was not disclosed in an <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001418091/f66f56c1-eb52-43f8-a7ff-992dc80a7396.pdf" target="_blank" rel="noopener noreferrer nofollow">SEC filing</a> until the following month. Twitter shareholders filed a lawsuit due to the delayed filing, but the suit was eventually dismissed.&nbsp;</p>
<p>Facing a trial that aimed to compel him to finalize the deal, Musk bought the remaining stock of Twitter and assumed control of the company in October 2022.</p>
<p>The SEC’s investigation came to light last Thursday when the agency filed a lawsuit, compelling Musk to testify in their inquiry, to which he had initially agreed but later backed out two days before the appointment testimony date.</p>
<p>Musk informed the SEC staff that he wouldn’t appear, attempting to justify his refusal by raising new objections, including questioning San Francisco as a suitable location for the testimony.</p>
<p>SEC lawyers assert that Musk, an avid Dogecoin (DOGE) <a href="https://crypto.news/elon-musks-upcoming-biography-to-illuminate-his-dogecoin-ties/" data-type="link" data-id="https://crypto.news/elon-musks-upcoming-biography-to-illuminate-his-dogecoin-ties/" rel="noopener noreferrer nofollow">supporter</a>, believed the subpoena was a form of harassment, providing a rationale for his non-compliance. Musk also reportedly cited his recently published biography by journalist <a href="https://youtu.be/RIIxINXIj9k?si=04XcFvNvTFQ3aKCP" target="_blank" rel="noopener noreferrer nofollow">Walter Isaacson</a> as a reason for not appearing, suggesting the book might contain new and relevant information for the case.</p>
<p>Alex Spiro, Musk’s attorney, issued a statement asserting that the SEC has already taken the X owner’s testimony multiple times in the misguided investigation and more wouldn’t be given.</p>
<p>A court hearing for the filing is set for Nov. 9, as stated in the <a href="https://www.scribd.com/document/675675731/SEC-v-Elon-Musk-Case-3-23-mc-80253-LB" target="_blank" rel="noopener noreferrer nofollow">legal document</a>.</p>
<p>Read more: <a href="https://crypto.news/elon-musk-calls-for-comprehensive-overhaul-of-us-sec-doj/" rel="noopener noreferrer nofollow"> Elon Musk calls for ‘comprehensive overhaul’ of US SEC, DOJ </a></p>

Elon Musk, X criticized for suspending pro-XRP account

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