How come almost on-one didn't bat an eye when Elon was pumping BTC by tweeting about it? In fact people were encouraging him to tweet about BTC or doge, and now it's suddenly market manipulation and potentially illegal when he is tweeting shit about it and it's going down?
I wouldn't disagree that Elon indeed tried to manipulate the crypto market and became successful to a great extent. It more for Dogecoin rather bitcoin. People who could follow his manipulation, made millions overnight and enjoying their new found wealth. Who could not follow, making losses on their investment.
That's everywhere! The regulatory authorities are not stepping in just because it's crypto and not stock market. But I strongly believe that this is a temporary phase. The market will soon become immune from Elon's comments and find its own original flow. It's just about time!