Why US SEC Chair Gary Gensler Gave Elon Musk a 48-Hour Ultimatum in Neuralink Probe
US SEC Chair Gary Gensler has opened a new investigation into Neuralink, Elon Musk’s brain-computer interface (BCI) company and is rehashing 2023 safety concerns.
Musk’s lawyer Alex Spiro confirmed the SEC gave him a 48 hour deadline to settle or face charges on “multiple counts”. But the SEC hasn’t disclosed what those counts are. So the standoff between Musk and the SEC continues.
Musk responded to the deadline on X (formerly Twitter) with: “Oh Gary, how could you do this to me?” He also asked his AI platform Grok to make an illustration of Gensler as a snail in a suit.
A History of Regulatory Clashes
This isn’t the first time Musk has clashed with the SEC. In 2018 he paid a $20 million fine for his tweet saying Tesla would go private with “funding secured”. The Neuralink probe is a new chapter in Musk’s regulatory battles with critics saying the SEC uses high profile cases for headlines rather than actual outcomes.
Musk’s lawyer calls the ongoing investigations an “endless campaign” against the entrepreneur. Neuralink has been under scrutiny since 2023 when lawmakers raised safety concerns about the brain implants. The company is being accused of overpromising safety features and sparking fears about the product’s reliability.
Crypto and Gensler’s Exit: What’s Next?
Gensler’s time as SEC Chair has been a target of the crypto community with many happy to see him go. Ripple CEO Brad Garlinghouse recently pointed out the $150 million his company has spent in legal battles with the SEC under Gensler’s watch.
Now all eyes are on incoming SEC Chair Paul Atkins who is expected to be more crypto friendly. Atkins has said he plans to reform the SEC by focusing on balanced enforcement rather than headline grabbing penalties.
And D.O.G.E. head Musk is still at it. He’s proposed a plan to solve US inflation by cutting federal spending. Because why not?
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