Tesla
Elon Musk’s “Don’t Doubt ur Vibe” Song Featured In New Tesla Ad: Watch
When it comes to CEOs who also soundtrack their company’s commercial advertisements, Elon Musk is one of one. In a new video posted to Tesla’s Instagram, the world’s preeminent electric vehicle maker featured “Don’t Doubt ur Vibe,” a house track produced in 2020 by Musk himself. The song soundtracks a synchronized “dance” of sorts between various forms of Tesla’s Model 3 and Model Y vehicles. The coordinated effort showcases the vehicles shuffling through various light patterns and fanning their trunk lids in succession as polychromatic lyrics illuminate the walls of the warehouse-style set. The advertisement doesn’t necessarily appear to be spotlighting any new feature releases in particular, though there is some speculatio...
$475M in Bitcoin options expire this week — Are bulls or bears poised to win?
Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls. Considering the current regulatory pressures in play, there seems to be a good enough rationale for avoiding bullish bets, especially after the U.S. Securities and Exchange Commission pressed charges against a former Coinbase manager for illegal securities trading on July 21. The additional impact from the Terra (Luna) — now renamed Terra Classic (LUNC) — ecosystem imploding and subsequent crypto venture capital firm Three Arrows Capital (3AC) registering for bankruptcy continue to weigh o...
Elon Musk: US ‘past peak inflation’ after Tesla sells 90% of Bitcoin
Bitcoin (BTC) is in short supply at Tesla, even as its CEO predicts that United States inflation has already peaked. Speaking at Tesla’s 2022 Annual Meeting of Stockholders on Aug. 5, Elon Musk predicted that an upcoming United States recession would only be “mild to moderate.” Musk on costs: “The trend is down” After recently selling almost all of its $1.5 billion BTC holdings, Tesla is seeing the emergence of exactly the kind of economic landscape in which risk assets thrive. During a Q&A session at the Annual Meeting, Musk revealed that six-month commodities pricing for Tesla parts is already getting cheaper, not more expensive. Commodities, he said, are trending down, providing a hint that inflation has already hit its highest levels. “We sort of have some insight ...
Crypto Biz: Elon Musk: The ultimate crypto tourist
Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin (BTC) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we have to hear about Musk and Bitcoin, the better. In this week’s Crypto Biz, we chronicle Tesla’s sale of BTC, KuCoin’s fight against fake news and Cathie Wood’s sale of Coinbase stock. Tesla reports $64M profit from Bitcoin sale Tesla’s decision to sell most of its Bitcoin wasn’t as boneheaded as it appeared at first. The company scored a $64 million...
Tesla reports $64M profit from Bitcoin sale
Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market. In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain of $64 million. In finance, an impairment loss occurs when the fair value of an asset held by a company falls below the carrying value of the investment. If you sell 75% of your bitcoin, you will only have 25% of your #bitcoin left. — Michael Saylor⚡&#x...
Large institutions sold $5.5B in BTC since May — and we’re still here
Since May 10, as much as 236,237 Bitcoin (worth $5.452 billion) has been sold by “large institutions” — mostly as a result of forced selling. A Twitter thread from Arcane Research analyst Vetle Lunde details how and when many institutional Bitcoin holders began selling their stacks. Lunde stated that “it all started with Do Kwon.” The Luna Foundation Guard (LFG), which controlled funds for the Terra project, dumped 80,081 BTC in a failed effort to protect the peg of its native Terra USD (UST) stablecoin in May. Terra’s collapse appears to have made some Bitcoin (BTC) miners face sell pressure. Lunde estimates that miners sold 19,056 coins between May and June. In some cases, miners were selling more than their monthly production, likely drawing from reserves. The Luna Foundation Guar...
Dogecoin misses bullish target after Elon Musk snubs Twitter — what’s next for DOGE price?
Dogecoin (DOGE) has missed a much-anticipated technical upside target and is down nearly 10% over the past week amid an ongoing spat between Elon Musk and Twitter. Musk hurts DOGE price To recap: Musk, whose companies Tesla, SpaceX, and Vegas Loop accept DOGE payments, had suggested introducing the same checkout option on Twitter this April. Bitcoin spoofs a breakout while Dogecoin jumps on Elon Musk’s Twitter takeover news. https://t.co/dlMH5u5jaf — Cointelegraph (@Cointelegraph) April 25, 2022 Nonetheless, the Musk-Twitter deal has turned sour after the billionaire attempted to walk away from his $44 billion takeover bid. In response, the platform has sued Musk, alleging that his heart changed after suffering personal losses in the ongoing global market carnage. Some Dogecoin trade...
In this together: Musk and Saylor down a combined $1.5B on Bitcoin buys
As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin buys. According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin (BTC) held by Microstrategy and Tesla respectively are worth considerable sums less. The top “Hodlers” of Bitcoin according to Bitcointreasuries.net For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. The Bitcoin price nosedive has ripped away earlier gains: the investment is worth $3.1 billion ($3,074,987,824), a loss of $900 million. Plus, in premarket trading on June 13, Microstrategy ...
Elon Musk Wants 10% Job Cuts At Tesla Over “Super Bad Feeling”
HipHopWired Featured Video Source: ROBYN BECK / Getty Elon Musk is citing worries over possible fluctuations in the economy as the reason he wants to cut the workforce at Tesla down by 10%, which was revealed in an email he sent to executives. According to reports, a leaked internal email the founder sent out late on Thursday (June 2nd) was entitled “pause all hiring worldwide”. The billionaire wrote that there was a need to reduce salaried workers at the automotive company by ten percent, writing that he has a “super bad feeling” about the economy. Musk also wrote that “hourly headcount will increase.” Currently, Tesla and their subsidiary companies have an employee count of almost 100,000 according to their SEC filing from last year. There are 5,000 advertised job openings at the c...
How to Avoid Privacy Risks from Third-party Automotive Apps
Image sourced from Pixabay. Mobile applications for connected cars provide various features to make life easier for motorists, but they can also be a source of risk. Kaspersky experts have analysed 69 popular third-party mobile applications designed to control connected cars and defined the main threats drivers may face while using them. They found out that more than half (58%) of these applications use the vehicle owners’ credentials without asking for their consent. On top of this, one in five of the applications have no contact information, which makes it impossible to report a problem. These and other findings are published in the new Kaspersky Connected Apps report. Connected automotive applications provide a wide range of functions to make drivers’ lives easier. For example, the...
Tesla chief Elon Musk and Doge co-founder Jackson Palmer have a spat
Jackson Palmer questioned Musk’s coding skills over a past Python script designed to automatically report crypto bots Musk, in response, termed Palmer’s script worse than a 12-year-old’s code Tesla CEO Elon Musk and Dogecoin co-founder Jackson Palmer have in the past pitted against each other, and they are back at it again. This time the conversation is over coding skills. Palmer’s interview with Crikey Jackson Palmer, who co-founded popular meme coin Doge alongside Billy Markus, recently spoke to Australian news outlet Crikey, in which he went on an offensive against Elon Musk. Palmer ran down back the memory lane and recalled a time when he created a script to automatically report crypto bots and scams on Twitter, which he says he ran by the Twitter team, Musk, and other crypto influence...
Caught Slippin’: Actor Owen Wilson’s Telsa Liberated Of Its Rims and Tires
HipHopWired Featured Video Source: Eurasia Sport Images / Getty Owen Wilson just found out that the struggle is real out in these streets and the wolves are ready to pounce on whoever regardless of your celebrity status. According to TMZ the Wedding Crashers actor was relieved of the tires and rims off his Telsa which he parked right in front of his home in Santa Monica, California. Must’ve been some thieves hype off of wheatgrass shots or something. Apparently Wilson got home on Saturday night, parked in front of his home, but when he woke up the next morning the rims and tires were gone with the wind. All in all the final cost of the stolen items totaled up to $4,000. Luckily that’s pocket change to a working man like Owen Wilson. Had it been someone like Emilio Estevez, it probably woul...
