Elon Musk is accused of using his influence — and possibly the cryptocurrency Dogecoin (DOGE) — to avoid over $2 billion in legal penalties connected to federal investigations into his companies during the Trump administration.
At the time of Trump’s inauguration, Musk’s companies were facing 65 open investigations from 11 federal agencies. These cases were later closed or weakened, allegedly due to Musk’s strategic role in a government department focused on “efficiency.”
Senate Democrats allege that Musk used DOGE not just as a cryptocurrency but as a tool to distract from investigations and dismantle regulatory scrutiny.
Senator Richard Blumenthal has issued a deadline of May 11 for five Musk-led companies to answer critical questions — or face the reopening of investigations.
The Trump administration has denied all accusations, calling them false and politically motivated.
This potential scandal highlights deep concerns about the influence of crypto, wealth, and political power in the U.S.
Disclaimer:
The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice. Cryptocurrency investments carry risks and may result in financial losses.
