Musk agreed to pay $1.5 million to settle SEC allegations regarding improper disclosure of his Twitter holdings.

CoinFeed reported on May 5th that, according to Cointelegraph, Elon Musk has agreed to pay $1.5 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that he failed to properly disclose his increasing stake in Twitter in 2022. Musk has reportedly not admitted to the allegations. Previously, the SEC accused Musk of failing to disclose in a timely manner that his stake in Twitter had exceeded 5% during the 2022 acquisition process.