You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The penalties, expected to be announced this summer, could exceed $1 billion. In addition, the EU may demand major platform changes. If enforced, this would mark the first significant penalty under the DSA, which requires stricter content moderation from social media platforms.

Geopolitical Tensions Rise!

The fine could further strain EU-US relations, particularly as Elon Musk is closely linked to Donald Trump. EU officials are considering the broader political implications, including ongoing trade disputes and tensions over the war in Ukraine.

Despite the possibility of a settlement, Elon Musk has previously criticized EU regulations as censorship. If a deal is not reached, legal battles between X and EU authorities could escalate.

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Is Musk Really Leaving?

While White House officials confirm Musk’s departure, Musk and Press Secretary Karoline Leavitt have called these reports “fake news.” Trump stated, “I’d keep him as long as I could.”

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

What Has the DOGE Team Done?

Under Musk’s leadership, DOGE has aggressively cut government spending, resulting in mass layoffs across various federal agencies.

• 56,000 federal employees laid off
• 75,000 voluntary resignations
• 171,000 additional cuts planned

Musk and DOGE claim to have saved $140 billion, but independent analyses highlight major calculation errors. The DOGE team will continue until 2026, but Musk’s replacement remains unknown. Trump’s push for a smaller government is expected to continue.

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The post Elon Musk Will Leave Trump’s DOGE Team! appeared first on Coin Engineer.

SEC Commission Majority Approves Lawsuit

According to the report, the SEC’s five commissioners held a vote on whether to sue Elon Musk. Four commissioners voted in favor of the lawsuit, while Mark Uyeda, the acting chair, cast the only dissenting vote. Uyeda was appointed as acting chair by U.S. President Donald Trump on January 20, 2025. Additionally, SEC Commissioner Hester Peirce also voted in favor of suing Musk along with three other commissioners.

What Are the Allegations Against Musk?

In the lawsuit filed on January 14, the SEC claimed that Elon Musk failed to disclose his purchase of Twitter shares within the required 10-day window after exceeding the 5% ownership threshold. The agency alleges that Musk delayed the disclosure by 11 days, allowing him to continue buying shares at lower prices, which resulted in an estimated $150 million advantage.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Elon Musk‘s lawyer, Alex Spiro, rejected the SEC‘s allegations, stating that the agency’s action was an admission that it could not bring an actual case. Meanwhile, Musk referred to the SEC as a “totally broken organization” on social media platform X, arguing that “so many actual crimes” go unpunished.

DOGE Agency and New Investigation Requests

One month after the lawsuit was filed, Musk’s Department of Government Efficiency (DOGE), a U.S. government agency led by Musk, turned its attention to the SEC. On February 17, a DOGE-affiliated account called on the public to report any “waste, fraud, and abuse” within the SEC. Musk also shared this post with his 200 million+ followers on X.

Court filings indicate that Elon Musk has until April 4 to respond to the lawsuit. Meanwhile, President Donald Trump issued an executive order calling for a review of politically motivated investigations within the SEC and other federal agencies under the previous administration.

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Following Peanut’s death, social media users began supporting memecoin projects to show their affection for him. This event, which went viral on platforms like Twitter and Reddit, sparked both sadness and excitement within the community. Crypto enthusiasts swiftly embraced the tokens created in his memory, and the value of these tokens rose rapidly.

Peanut-themed memecoins stand out due to their low transaction fees and fast processing times on the Solana network. Analysts note that while these types of memecoins may offer high short-term returns, they also carry substantial risk. Investors are advised to exercise caution, especially as crypto projects that gain popularity on social media can experience rapid gains as well as losses in value.

This event sparked outrage, with figures like billionaire Elon Musk criticizing the government, calling it ‘mindless’ and ‘heartless.’

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Peanut-Themed Memecoins Launched

The DeFi data tracking platform Dexscreener shows that many Peanut-themed memecoins have been launched on the Solana network. Additionally, two Peanut-themed memecoins have made it into the top 10 tokens in Dexscreener’s 24-hour rankings.

A token called “Peanut the Squirrel” (PNUT), created two days ago, reached nearly $300 million in volume and recorded over 200,000 transactions. The token currently has a market capitalization of $100 million, having peaked at $120 million before experiencing a correction.

A similar memecoin was also launched on the BNB Smart Chain, reaching a market cap of $80 million while recording a volume exceeding $110 million.

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Currently, a significant political topic in the U.S. revolves around the decision to euthanize a domesticated squirrel named “Peanut,” which has been deemed wild by authorities. Supporters of Donald Trump are blaming this situation on the Biden and Kamala Harris administration. In light of this event, Musk has been making frequent comments.

You Might Be Interested In: Will Elon Musk’s Tesla Accept Shiba?

An interesting aspect of the situation is the emergence of a new memecoin called “Pnut,” inspired by the squirrel named “Peanut.” Musk referred to the squirrel as “Pnut,” which led to a sudden increase in the value of the memecoin.

According to data provided by Arkham, it was found that a crypto whale purchased $95,400 worth of Pnut yesterday. However, this investor did not sell even after experiencing nearly a 50% loss in the value of their tokens within a short period. Following Musk‘s mention of Pnut, the value of the whale’s holdings surged to $1.3 million.

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The post Elon Musk Talks About the Name of a New Memecoin! appeared first on Coin Engineer.

“If you’re a dog, X is the place to be,” Musk’s mother Maye Musk wrote on Twitter. Responding to this tweet, Musk said, “X is a dog and Doge friendly place!”

Musk’s post implied that X is a platform that supports Dogecoin. Some users thought that X would offer features like paying with Dogecoin or receiving donations in the future. Others claimed that Musk was just joking or trying to pump Dogecoin.

The Dogecoin price increased by more than 5 percent to $0.06547 after Musk’s post. At the time of writing, DOGE is trading at $ 0.06343.

Musk has made many posts about Dogecoin before. In January, Musk wrote “Bitcoin” in his Twitter bio, then tweeted, “Dogecoin is actually the best cryptocurrency.”

X is a dog & Doge friendly place!

— Elon Musk (@elonmusk) August 23, 2023

Musk’s views on Bitcoin and Ethereum are also curious. Musk recently said that he supports Bitcoin on the voice chat application Clubhouse. “I think Bitcoin is a good thing. I joined the party a little late. I’m a Bitcoin supporter now,” Musk said, referring to the potential of Ethereum.

May Catch Your Attention: What is Barcelona Fan Token ($BAR)?

Musk’s interest and influence on the cryptocurrency market continues. We are eagerly waiting to see what the world’s richest man thinks about cryptocurrencies and what he will do.

The post Elon Musk Glorified Dogecoin! DOGE Cooperation Signaled For X! appeared first on Coin Engineer.