What to know:
- A new X account has set the crypto world ablaze, with XRP holders eagerly awaiting a public spectacle that might expose the SEC’s dark secrets.
- D.O.G.E., the brainchild of the one and only Elon Musk, is a temporary non-governmental agency with a mission to root out inefficiencies and misconduct.
The crypto faithful, particularly the XRP loyalists, are celebrating as Elon Musk’s Department of Government Efficiency (D.O.G.E) seems to have taken a keen interest in the U.S. Securities and Exchange Commission (SEC). 🎉
“DOGE is seeking help from the public,” announced a newly-minted X account linked to D.O.G.E. “Please DM this account with insights on finding and fixing waste, fraud, and abuse relating to the Securities and Exchange Commission.”
DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud and abuse relating to the Securities and Exchange Commission.
— DOGE SEC (@DOGE_SEC) February 17, 2025
This call to action has ignited a wave of speculation among XRP holders, who believe that public pressure and the findings from this initiative could uncover conflicts of interest or misconduct within the SEC. This could potentially weaken the SEC’s position in their ongoing appeal against Ripple, much to the delight of crypto enthusiasts. 🚀
Such developments could give XRP prices a much-needed boost, especially if they are perceived as bullish for the token or the SEC’s approach to crypto cases. 📈
The SEC accused Ripple Labs of conducting an unregistered securities offering of XRP in a high-profile court case in 2020. The case was eventually ruled in Ripple’s favor in 2024, but the appeal period is still ongoing, keeping the case from being officially closed. 🤔
D.O.G.E. is a temporary non-governmental agency helmed by Musk, with a mission to streamline regulations, cut wasteful spending, and restructure federal agencies. It’s no surprise that it’s themed after dogecoin (DOGE), a memecoin that Musk has championed in recent years. 🐶
The SEC has long been a thorn in the side of local crypto companies and token issuers under the Biden administration. However, the crypto-friendly Donald Trump taking office on January 20th has started to shift the tide. 🌊
Despite the excitement, XRP prices have dipped 1.4% over the past 24 hours, outperforming a 2% slide in bitcoin (BTC) and a 2.5% drop in the broader market tracked by the CoinDesk 20 index. 📉
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2025-02-18 09:19