Elon Musk Criticizes SEC as ‘Weaponized Institution’ in Latest Post

Elon Musk recently took to X to criticize the U.S. Securities and Exchange Commission (SEC), calling it a "weaponized institution."

His comments followed a ruling by the Fifth Circuit Court of Appeals, which declared that the SEC had overstepped its bounds by approving a Nasdaq policy requiring corporate boards to adopt identity-based diversity quotas.

Judge Andrew Oldham, who authored the opinion, argued that the SEC’s role is to ensure a fair and honest market, not to enforce political agendas within corporate governance.

Musk’s post has sparked reactions from Ripple’s CEO, Brad Garlinghouse, and CTO, David Schwartz, both of whom commented on the ongoing controversy surrounding the SEC. Musk’s criticism comes at a time when the U.S. Supreme Court has also rejected the SEC’s bid to sanction him for failing to appear at a court-ordered testimony.

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Beyond his stance on the SEC, Musk, known for his unconventional approaches, has been vocal about his plans to reshape government operations. Following his proposal to establish the Department of Government Efficiency (DOGE), Musk aims to slash the federal budget by $2 trillion, about 30% of its current size. Part of this plan includes instituting a return-to-office mandate for government employees and potentially eliminating entire agencies.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.