Tesla Reports Record Revenues and Healthy Margins in Q2 FY23 Earnings Report, Continues to HODL Bitcoin Holdings
Tesla's Q2 FY23 earnings report has shown impressive results despite the current state of the economy. The company achieved record production and delivery numbers, as well as generating the highest revenue of any quarter to date, with $24.9 billion.
Tesla’s Digital Asset Holdings Remain Unchanged in Q2 Despite Bitcoin’s Price Rise
Tesla's digital asset holdings remained at $184 million on its balance sheet in the second quarter, despite the rise in bitcoin's price during the same period. This is due to accounting rules that do not allow for unrealized gains on crypto to be recorded.
Elon Musk's Tweet Sends Dogecoin Up 4% in Minutes
Dogecoin, a popular cryptocurrency with a dog theme, experienced a 4% surge in price within minutes after Elon Musk mentioned it in a tweet. The price of DOGE reached a high of $0.72 from $0.69 on Wednesday morning, but then dropped slightly to just under $0.70.
Elon Musk and Tesla's Legal Team Defend Against Allegations of Conflict of Interest in Dogecoin Lawsuit
Elon Musk and Tesla's legal team have asked a US district court judge to dismiss a motion to sanction them over alleged conflicts of interest in a $258bn lawsuit. The lawsuit alleges that Musk participated in an illegal racketeering scheme related to the Dogecoin cryptocurrency. The plaintiffs' lawyer, Evan Spencer, filed the motion on 25 June, claiming that the defendants' legal team was acting as "concurrent representatives" of both Musk and Tesla. Musk and Tesla's legal team responded by calling Spencer's motion "unsubstantiated" and "frivolous". They argued that there was no conflict of interest under New York law.
Ark Invest Embraces Crypto: Bets on Coinbase and Robinhood Over Tesla
June 24 (Cointime) - Ark Invest has decreased its investment in Tesla while increasing its investment in crypto stocks, particularly Coinbase and Robinhood.
Tesla's Official Website Features Dedicated Page for Dogecoin Payments
June 22 (Cointime) - A dedicated page on the official Tesla website provides information about using Dogecoin as a payment option, including what can be purchased and how to make a purchase.
Tesla CEO Elon Musk Loses Litigator in Dogecoin Market Manipulation Lawsuit
June 20 (Cointime) - Elon Musk, founder and CEO of Tesla, has lost one of the company's top in-house litigators, who has motioned to withdraw counsel in Musk's $258 billion lawsuit relating to an alleged Dogecoin market manipulation case.
Elon Musk Suspends Account Linked to BOB Meme Coin, Leading to 30% Value Plunge
June 19 (Cointime) - Elon Musk, the CEO of SpaceX and Tesla, has caused a 30% drop in the value of the BOB meme coin by suspending an account associated with it. The BOB token is an ERC-20 meme coin that powers a Twitter reply bot called Bob, which explains tweets in simple terms.
Presidential Candidate Robert F. Kennedy Jr Discusses AI and Social Media Censorship With Elon Musk, but No Mention of Bitcoin
Tesla CEO and Twitter owner Elon Musk hosted a two-hour conversation with presidential candidate Robert F. Kennedy Jr, but they did not discuss Bitcoin or the digital assets industry. Instead, they talked about topics such as artificial intelligence and social media censorship. Kennedy expressed his concern about regulating AI to prevent it from harming humans. Although Kennedy has previously championed Bitcoin, he did not mention it during the conversation with Musk.
China’s Foreign Minister Met With Tesla CEO Elon Musk in Beijing
China's Foreign Minister met with Tesla CEO Elon Musk in Beijing to stress the significance of foreign companies in China during times of strained US-China relations.
