Nouriel Roubini urged the SEC to check Elon Musk, and PayPal intends to allow stock trading

2 min readFeb 12, 2021

The expert urged the SEC to check Elon Musk for manipulation of the crypto market

Economist Nouriel Roubini is confident that the SEC needs to study the legality of the actions of the Tesla CEO Elon Musk for manipulating the cryptocurrency market. The expert criticized Musk, who recently wrote on his Twitter page about BTC and DOGE. Against this background, the cost of crypto coins grew sharply.

It also became known earlier that Tesla acquired bitcoins for $1.5 billion. All these events drew sharp criticism from Roubini.

“It’s irresponsible and it’s market manipulation. The SEC should be looking into people that have a market impact that manipulate the price of assets. That’s also criminal behavior, ” the economist said.

According to Roubini, the CEO of MicroStrategy Michael Sailor is also behaving “irresponsibly” by investing a significant share of the company’s reserves in BTC, despite its volatility.

PayPal intends to allow stock trading

PayPal payment platform intends to add stock trading functionality. The company wants to compete with financial super apps like China’s Alipay and WeChat Pay.

In addition, the platform will allow users to create a high-yield savings account, pay bills and cash checks. The head of the company Dan Shulman believes that by 2025 the number of active users of the platform will grow to 750 million, and the total volume of payments on PayPal may grow to $2.8 trillion.

“There’s few companies in the world that can even aspire to this vision. It requires capabilities that cross industries, from financial services to payments to shopping to technology, ” Schulman said.