Tesla CEO Elon Musk has reportedly disposed of nearly $7 billion worth of the company’s stock in recent days as his chaotic Twitter buyout bid still hangs in limbo. Musk, who happens to be Tesla’s largest shareholder, currently has only a 15% stake in the company. According to WSJ, disclosures show that the exec sold...Read More
In a recent Twitter thread, Arcane Research analyst Vetle Lunde revealed how many Bitcoin institutional investors had sold since Terra’s carnage kicked in, thus tanking the whole crypto market. In his estimate, Tesla sold 29,060 BTC at an average price of $32,209 in May. Forced Selling In Lunde’s view, massive institutional blow-ups in the past...Read More
Binance CEO CZ Zhao does not think anyone selling or buying Bitcoin can fundamentally impact the asset – even including Tesla CEO Elon Musk. To demonstrate his faith in the primary cryptocurrency, CZ said he is still holding most of the coins he bought when he just entered the industry. On Tesla’s Bitcoin Dump Commenting...Read More
Twitter announced its Q2 2022 financial results on Friday, revealing lower-than-expected numbers for revenue, earnings, and user growth. When naming reasons for the slowdown, the company placed partial blame on Tesla CEO Elon Musk for casting uncertainty on their acquisition deal. Twitter’s Q2 Figures According to Twitter’s press release, the company’s revenue decreased by 1%...Read More
The electric vehicle giant Tesla sold $936 million of its bitcoin holdings in Q2 this year. However, the move was prompted not because the company does not believe in the asset anymore, but because of the record production costs in China due to the last COVID-19 lockdown, CEO Elon Musk explained. Earlier this week, the...Read More
According to Tesla’s Q2 2022 earnings report released on Tuesday, the car manufacturer has sold almost all of its Bitcoin into fiat currency. The selloff netted the company an additional $936 million in cash for its balance sheet. As reads the report, Tesla “converted approximately 75% of [its] Bitcoin purchases into fiat currency,” as of...Read More
Social media giant Twitter has filed a lawsuit against Tesla and SpaceX CEO Elon Musk, seeking to force the billionaire to close the acquisition deal as agreed by both parties. According to court documents, the complaint filed in the Delaware Court of the Chancery on Tuesday (July 12, 2022) alleges that Musk violated the terms...Read More
Twitter’s stock steeply fell in premarket trading on Monday after Elon Musk withdrew his offer to purchase the platform last week. Its shares trade for $34.31 at the time of writing, down 6.89% from Friday’s $36.85 closing price. Twitter VS Elon Musk The new price reflects a 36% discount from Elon Musk’s offer to purchase...Read More
Tesla and SpaceX CEO Elon Musk has backed out on his deal to purchase Twitter for $44 Million. In a filing on Friday, the CEO stated that Twitter hadn’t “complied with its contractual obligations” to him, as detailed in their Merger agreement on April 26th. One such requirement was that Twitter provide him with all...Read More
Tesla and SpaceX CEO Elon Musk continues to show support for Dogecoin, with one of the billionaire’s firms, The Boring Company, allowing customers to pay for Loop rides with the memecoin. According to CNN on Wednesday (July 6, 2022), The Boring Company, an infrastructure, and tunnel construction firm, first announced the dogecoin payment option on...Read More
Elon Musk, the world’s richest man and self-proclaimed Doge Father, has declared his unwavering support for the leading meme cryptocurrency, Dogecoin. Elon Musk to Keep Supporting Dogecoin The Tesla CEO posted on Twitter earlier today: “I will keep supporting Dogecoin.” He also revealed in response to a user that he is still buying the memecoin....Read More
Elon Musk, the new would-be owner of Twitter, has ambitious plans for the company and believes that the integration of crypto transfers on the social media app “makes sense.” Crypto Payment Integration on Twitter Details of Musk’s latest interaction with the Twitter employees at a virtual town hall surfaced for the first time since striking...Read More
Is Elon Musk’s promotion of Dogecoin coming back to bite him? The billionaire and his companies are now being sued for $258 billion for engaging in a so-called “crypto pyramid scheme” by way of the meme coin. Sued for Memes? As reported by the New York Post, the federal lawsuit was filed in Lower Manhattan...Read More
Changpeng Zhao – CEO of Binance, the world’s largest crypto exchange – has reaffirmed his support for Elon Musk’s plan to buy out Twitter. He also went deep on Binance’s current financial position, explaining that the exchange is more than prepared for the bear market. ‘If He’s Off, We’re Off’ In an interview with Bloomberg...Read More
Timothy Ursich Jr. – who runs for election to the US Senate to represent California – vowed that he will draft a bill proposing Dogecoin as an official payment method if he is victorious. He also opined that two of the best instruments against the current galloping inflation are the leading cryptocurrencies – bitcoin and...Read More
Elon Musk has fired back at Dogecoin co-founder Jackson Palmer for his recent claims that the Tesla CEO doesn’t understand basic code. Instead, Musk insisted that it was Palmer that had the coding skills of a child, and invited him to share his coding prowess with the world. Jackson Palmer on Blast Musk’s comments were...Read More
Billy Markus, co-founder of the popular memecoin Dogecoin (DOGE), said the great majority of cryptocurrency projects in the industry are nothing but scams and garbage with no real value to offer. Markus: 95% of Crypto Projects are Scams In a recent tweet, the Dogecoin creator argued that 95% of cryptocurrencies are worthless as they have...Read More
Elon Musk informed that his acquisition of Twitter had been delayed because of issues related to fake accounts and scams on the popular social medial platform. The CEO of Tesla and SpaceX made the news in April when it became known that he had purchased a 9.2% passive stake in Twitter. Shortly after, he dabbled...Read More
Besides generating a lively discussion among Twitter users across the globe, Elon Musk’s bid to acquire the social media platform for $43 billion in cash has also galvanized the blockchain’s billionaire club. In the latest, Ethereum co-founder Vitalik Buterin has made his mind public on the issue. In a tweet on Saturday, he said he doesn’t...Read More
Elon Musk’s offer to take Twitter private with a bid of $54.20 a share, about $43 billion in total, has attracted tremendous reaction on the social media platform. Only hours after the news broke, Justin Sun, founder of Tron network, made an offer of $60 per share, trying to outbid the Tesla CEO, and claimed...Read More
Tesla CEO Elon Musk has offered to completely buy out Twitter with a $43 billion offer, in the name of free speech. He’s offering $54.20 per share for all 800,641,166 shares of Twitter’s common stock. However, one crypto investment firm doesn’t believe this is a meaningful development for freedom, given the inherent weaknesses of centralization....Read More
In an interesting twist of events, Tesla’s CEO – Elon Musk – decided not to join the board of directors of the social media platform Twitter. The company’s Chief Executive Officer – Parag Agrawal – claimed, “this is for the best.” Last week, Elon Musk purchased more than 70,000,000 Twitter shares or 9.2% of the...Read More
Elon Musk, the CEO of Tesla and SpaceX, purchased a 9.2% stake in Twitter, which became known recently, and was appointed to the board of directors shortly after. Now, the billionaire made several propositions to the social media giant’s paid subscription plan, one of which sees the implementation of Dogecoin payments. As reported by CryptoPotato...Read More
The pre-market prices of Twitter’s shares skyrocketed by double-digits as news emerged that Tesla’s CEO had acquired a 9.2% passive stake in the social media platform. Interestingly, Dogecoin’s price also soared once the news broke. According to a filing to the Securities and Exchange Commission, Elon Musk has taken a 9.2% passive stake in Twitter...Read More
Elon Musk has Tweeted a Youtube video that ‘explains everything’ about Dogecoin Elon’s was responding to a Tweet by the Director of Research at Ark Invest, Brett Winton Winton’s tweet featured a conversation in which he was trying to explain Bitcoin to his mum The 2014 Youtube video posted by Elon, summarizes the genesis of...Read More
Earlier this week, the President of the Chechen Republic – Ramzan Kadyrov – advised Elon Musk not to measure his strength against Vladimir Putin. Kadyrov went further, ironically calling Tesla’s CEO – Elona (the female version of his name). As it goes with the nature of the crypto community, scammers created over 30 tokens containing...Read More
The world’s richest man – Elon Musk – took it to Twitter to reveal that the company he spearheads – Tesla – is coming under pressure from the increasing inflation. He also shared his opinion on what assets it’s better to own when inflation goes up. In a recent tweet, the man behind Tesla and...Read More
Billy Markus – Co-Founder of Dogecoin – is not keen on other memecoins. In his view, creators of such projects are “trying to get rich” on the back of individuals seeking quick profits. ‘Memecoins Aren’t Even Memes’ In his most recent tweet, Billy Markus – aka Shibetoshi Nakamoto – was not kind to other memecoins....Read More
Elon Musk’s interest in Dogecoin (DOGE) needs no introduction. The self-proclaimed ‘DogeFather’ has hinted at yet another collaboration, this time with his satellite internet venture, Starlink. Will Starlink Accept Dogecoin For Merch The business magnate responded with a wink emoji when a Twitter user proposed an idea of SpaceX merch store and Starlink accepting the...Read More
The relationship between the US fast-food chain and the cryptocurrency industry went on another level in the past several days during the market correction. The latest to get involved was Tesla’s CEO – Elon Musk. Bitcoin and the rest of the crypto space slumped in value in less than a week. The entire market cap...Read More
