BURSTBack in December, Elon Musk accused the Securities and Exchange Commission (SEC) of launching a purely politically motivated probe into his Twitter purchase. In a letter from his lawyer, Alex Spiro, Musk alleged that the SEC gave him 48 hours to accept a settlement or face fraud charges. Musk refused to pay the fine, demanding to know "who directed these actions," suspecting either former SEC Chair Gary Gensler or Joe Biden's White House.
Once the SEC lawsuit was filed in January, Musk's condemnation of the settlement was echoed in his claims that the SEC was "totally broken." These comments seemed to further his feud with the agency following a contentious 2018 Tesla settlement over Musk's tweets that resulted in the Supreme Court declining to hear Musk's arguments against his tweets being monitored by the SEC.
But after Donald Trump issued a February executive order declaring sweeping powers over independent agencies—including the SEC, which was accused of launching politically motivated investigations—it appeared that Musk might instead have been setting up the narrative to possibly get the probe squashed.