Elon Musk made a big fuss at the SEC, and the crypto world went wild!
Hey, guys, Elon Musk made a big move again! His Department of Government Efficiency (let's call it DOGE, although it has nothing to do with Dogecoin) actually announced that it would take over the Securities and Exchange Commission (SEC), which is big news!
Musk and his team went all out and directly investigated the suspected inefficiency, fraud, and embezzlement of public funds within the SEC. This wave of operations directly caused a stir in the crypto industry, and everyone was talking about it.
DOGE also publicly called on everyone to share any negative information about the SEC, saying that it would make drastic reforms and even disband the SEC. This time, some people were happy and some were worried. Some people thought, oh, finally someone came to deal with these bureaucrats; but some people were worried that if this happened, the digital asset market would suffer.
To be honest, the crypto industry has long had complaints about the SEC. In the past, the SEC was very tough and forced everyone to do nothing. But since Gary Gensler left, the SEC's attitude has softened and started to cooperate with industry leaders. All of a sudden, some people think that the SEC is actually good now and is beneficial to the development of the industry.
Just like the crypto mom Pierce, she is very worried about the SEC. She thinks that there are still many capable people in the SEC who can contribute to the crypto market. But some people don't think so, such as Paul Grewal, the general counsel of Coinbase, who said that if the SEC's legal procedures are messed up, they will have to pay money!
This DOGE is going to celebrate taking over the SEC, and Musk is taking a big risk this time. If he does well, he will definitely get the applause of many supporters; but if he messes up, he will offend those who regard the SEC as a partner.
So, will Musk's operation bring benefits to the crypto industry or create new problems? We have to wait and see. However, I personally think that this matter is not that simple, let's just eat melons and watch the show!
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