Up until some time ago, Elon Musk was vigorously involved in tweeting about Tesla — remember his infamous tweet of taking Tesla private at 4420 per share — which affected the prices of the shares of the company, which of course, irked the investors a lot.

That stopped after Musk settled a deal on the securities fraud charge brought by the SEC against him in late 2018. The settlement that required him to step down as Tesla’s Chairman, a committee to oversee Musk’s communications, and paying a penalty of $20 million was taken “to prevent further market disruption and harm to Tesla’s shareholders.”

Now that Musk can't tweet about stocks anymore, although a US securities watchdog found him violating the settlement last year, he has switched his attention to crypto markets which are unregulated and won’t get him rebuked by the regulator. DegenSpartan commented,

“My personal conspiracy theory is that since he isnt allowed to tweet shit that fks around with share prices anymore. He does it for cripto cos “not regulated.’”

Elon Musk hyperimmunizing the world on the whimsicality of the words of billionaires is a blessing imo

The floodgates are open now and lots more people who shouldn't talk shit will talk shit

— loomdart (@loomdart) June 4, 2021

Binance.US Chief Executive Officer Brian Brooks meanwhile sees Musk’s impact on the industry as a positive as “it’s a country with free speech,” adding “short-term market panics are never a good reason for anybody to buy and sell.”

“Whether he’s pushing markets up or down, that’s probably good in the long term,” said Brooks, who has been a top banking regulator before taking over Binance.US last month, in an interview with Bloomberg. “If Elon Musk is this interested in crypto, crypto must be pretty important.”

Alex Adelman, co-founder, and CEO at Lolli, a Bitcoin rewards startup, is of a similar opinion who also said, Musk driving attention to the crypto is “net good” for space. Adelman said,

“I think it is great what he is doing, he is driving attention and clearly very influential. Any eyeballs coming to bitcoin making them question money, in general, is a net good for the space, for bitcoin and the people following him.”

As we saw this year, Musk has been aggressively tweeting about cryptocurrencies which have gone beyond Bitcoin now.

While the impact of his tweets on the prices of Bitcoin and Dogecoin has started to slow down, it is still there and irritating the crypto community, especially after his criticisms that sent the prices crashing. DOGE 3.67% Dogecoin / USD DOGEUSD $ 0.38
$0.01 3.67% Volume 4.46 b Change $0.01 Open $0.38 Circulating 129.9 b Market Cap 48.94 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=DOGE&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 25 min “I Would Leave Twitter or Square for Bitcoin,” says Jack Dorsey At the Bitcoin 2021 Conference 47 min Here's Why Elon Musk’s Pivot to Cryptocurrency Can Be 'Net Good' for the Space 1 d Elon Musk Can’t Stop Talking About Bitcoin, Now His Reputation is Taking a Hit

This week, after lamenting his breakup with Bitcoin, today, he changed his profile picture bearing the Bitcoin symbol. Just last month, Musk removed Bitcoin from his Twitter profile.

Additionally, he is tweeting about low-cap coin CumRocket (CUMMIES), which surged 110% in response.

In a separate tweet, Musk said he “pretty much agree with Vitalik” in response to Ethereum co-founder Vitalik Buterin’s interview with Lex Fridman, where he talked about Musk's crypto strategy and support for Dogecoin. But Musk didn’t share exactly which part he is in agreement with as Buterin talked about a lot of things, including Musk and many cryptos. ETH -1.43% Ethereum / USD ETHUSD $ 2,617.51
-$37.43 -1.43% Volume 29.89 b Change -$37.43 Open $2,617.51 Circulating 116.17 m Market Cap 304.07 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 25 min “I Would Leave Twitter or Square for Bitcoin,” says Jack Dorsey At the Bitcoin 2021 Conference 47 min Here's Why Elon Musk’s Pivot to Cryptocurrency Can Be 'Net Good' for the Space 23 h Crypto Exchange FTX Joins the NFT Trend, Launches Non-Fungible Token MarketPlace

“You would make a mistake if you were to ascribe too much sophisticated malevolence or any deep intentionality to the whole process. He's just a human being, and he likes dogs just like I like dogs.”

Buterin also said that Ethereum is not opposed to dog coins; in fact, “I kind of want the fans to feel like Ethereum is – at least a little bit – in spirit itself a dog coin,” he said, adding that if doge wants to bridge to Ethereum, “that would be amazing.”

As for whether Tesla and SpaceX will consider Ether in the future, “I'm sure that if they stay in the cryptocurrency system at all, then they have to at some point.”

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