D.O.G.E Initiative Led by Musk Targets SEC Amid XRP Speculation
Cult followers of XRP and other tokens reacted positively to the Department of Government Efficiency (D.O.G.E) targeting the U.S. Securities and Exchange Commission (SEC).
- D.O.G.E is soliciting public input on identifying waste, fraud, and abuse within the SEC.
- This initiative has led to speculation among XRP holders about potentially exposing misconduct at the SEC.
- Such developments could strengthen XRP's position in its ongoing appeal against the SEC.
- The SEC accused Ripple Labs of conducting an unregistered securities offering for XRP, a case resolved in Ripple’s favor in 2024, though an appeal is still active.
- D.O.G.E, led by Elon Musk, aims to reduce regulations and restructure federal agencies.
- Recent market performance shows XRP prices down 1.4%, compared to a 2% drop in bitcoin and a 2.5% decline in the broader market.