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Elon Musk's DOGE Targets SEC in Escalating Feud

Coin WorldTuesday, Feb 18, 2025 8:56 am ET

1min read

Elon Musk's Department of Government Efficiency (DOGE) is reportedly gearing up to scrutinize the U.S. Securities and Exchange Commission (SEC), marking a significant escalation in Musk's ongoing feud with the financial regulator. According to a Feb. 17 report, DOGE operatives are expected to arrive at the SEC's offices in the coming days.

DOGE, which has been rapidly expanding its influence, recently added over 30 affiliate pages on X, including a dedicated SEC-focused arm named DOGE SEC. The agency issued a call to action on X, urging the public to report any evidence of "waste, fraud, and abuse" within the SEC. This aligns with Musk's broader campaign to root out inefficiencies across federal agencies, but it also raises concerns about potential conflicts of interest given Musk's history with the regulator.

Musk's disdain for the SEC is well-documented. Most recently, the regulator accused him of underpaying Twitter shareholders by more than $150 million in a lawsuit tied to his takeover of the social media platform. In response, Musk dismissed the agency as a "totally broken organization," claiming that it focuses on trivial matters while real financial crimes go unchecked.

Now, with DOGE setting its sights on the SEC, some lawmakers fear that Musk's involvement could compromise sensitive financial data. Democratic Representative Maxine Waters voiced concerns that Musk might gain access to the SEC's Consolidated Audit Trail—a vast trading surveillance system that tracks U.S. securities transactions. Critics worry that this data, described as a "treasure trove," could be exploited for Musk's personal gain or to settle old scores with regulators.

Despite these concerns, the White House has maintained that safeguards are in place. Press Secretary Karoline Leavitt assured reporters that President Trump "will not allow conflicts" and that Musk has pledged to recuse himself from matters where conflicts may arise.

Beyond the SEC, DOGE has also secured access to sensitive student loan records from the Department of Education and is seeking confidential taxpayer data from the Internal Revenue Service.

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