Crypto Biz: Elon Musk: The ultimate crypto tourist

2022.07.30 22:17

Elon Musk’s Tesla (NASDAQ:TSLA) 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 (NASDAQ:COIN) stock.

Tesla reports $64M profit from Bitcoin sale

KuCoin CEO Johnny Lyu launches ‘Anti-FUD Fund’

Cathie Wood sells Coinbase shares amid insider trading allegations

3AC: A $10B hedge fund gone bust with founders on the run

Don’t miss it! Why does the FOMC meeting matter for crypto?