The Securities and Exchange Commission (SEC) has revived its investigation into Elon Musk’s brain-chip startup Neuralink, according to a letter shared by Musk on social media platform X.
What Led to the Investigation
The investigation stems from a letter sent by Musk’s lawyer, Alex Spiro, to outgoing SEC Chair Gary Gensler, revealing that the commission has issued a settlement demand. Musk has 48 hours to accept a monetary payment or face multiple charges.
Musk’s Response: A Rebuff to SEC
Musk quipped, “Oh Gary, how could you do this to me?” The response reflects his affinity for sparring with regulatory bodies.
A History of Regulatory Scrutiny
Musk has faced regulatory scrutiny in the past. In 2018, he settled an SEC lawsuit over Tesla Inc. social media posts about taking the company private. Musk paid a $20 million fine and agreed to have Tesla lawyers review certain communications.
Background: Neuralink’s Advances
Last year, four lawmakers requested the SEC to investigate potential securities fraud related to Neuralink’s brain implant safety claims. Meanwhile, Neuralink has advanced its brain-computer interface technology, receiving FDA approval for human trials and successfully implanting devices in two patients.
Why It Matters
The investigation comes at a complex moment for Musk, who has reportedly spent over $250 million supporting President-elect Donald Trump’s campaign and has been appointed to a government task force.
Neuralink’s Mission
Neuralink continues to push technological boundaries, with recent trials demonstrating patients’ ability to control computer cursors and play video games using brain-computer interface technology. The company aims to develop solutions for neurological disorders and expand human-technology interaction.
The Road Ahead
Musk’s lawyer has emphasized that Musk and his team will not be intimidated by the SEC and have reserved their legal rights. The SEC and Neuralink did not immediately respond to requests for a statement.