Elon Musk and Mark Cuban Join Forces to Challenge SEC Trial Strategies

Elon Musk, Mark Cuban, and several others have jointly submitted an amicus brief to the Supreme Court of the United States, expressing their concerns regarding the U.S. Securities and Exchange Commission’s (SEC) practice of conducting internal proceedings without juries.

Mark Cuban, a billionaire investor in cryptocurrency and a proponent of decentralized finance (DeFi), actively participates in the crypto realm. Alongside him, Elon Musk, CEO of Tesla and SpaceX, known for recently rebranding Twitter as X and for his influential presence in the crypto space, argue that these administrative proceedings lead to inconsistent outcomes for individuals facing charges from the SEC. This situation has raised alarms about possible violations of the Seventh Amendment of the U.S. Constitution, which guarantees the right to a jury trial.