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Bitcoin recovers to $38,000 after plunging 30% in 24 hours
The world s largest cryptocurrency Bitcoin has declined 6.62 per cent to $38,018.85 in the past 24 hours. The world s biggest cryptocurrency saw around a 26.7 per cent drop on Wednesday. The most famous cryptocurrency started seeing a major decline after Tesla CEO Elon Musk said his company will no longer accept Bitcoin as a digital payment due to the damage Bitcoin processing causes to the environment.
ByteDance Co-Founder Zhang Yiming to step down as CEO; Rubo Liang to succeed
Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company disclosed on Thursday.
Bitcoin plummets to lowest since March 1 after US probe on Binance, Tesla move
Bitcoin dropped to $45,700, the lowest since March 1, then steadied at $49,312 in Asia morning trade on Friday
Reuters | May 14, 2021 | Updated 09:31 IST
Bitcoin slid to a 2-1/2-month low on Thursday after a regulatory probe into crypto exchange Binance added to pressure from Tesla Inc chief Elon Musk s reversing his stance on accepting the digital currency. Bloomberg reported on Thursday that as part of the Binance inquiry, the U.S. Justice Department and the Internal Revenue Service have sought information from individuals with insight into its business.
Bitcoin dropped to $45,700, the lowest since March 1, then steadied at $49,312 in Asia morning trade on Friday. The world s largest cryptocurrency fell 17% on Wednesday following Musk s remarks that Tesla would stop accepting the digital token as payment for its electric cars for environmental reasons.
Elon Musk goes back on taking bitcoin for Tesla cars, cites climate concerns
Bitcoin, the world s biggest digital currency, fell more than 7% after the tweet and was trading at $52,669
Reuters | May 13, 2021 | Updated 08:17 IST
Tesla Inc has suspended the use of bitcoin to purchase its vehicles because of climate concerns, Chief Executive Officer Elon Musk said in a tweet on Wednesday, reversing the company s stance in the face of an outcry from some environmentalists and investors.
Bitcoin, the world s biggest digital currency, fell more than 7% after the tweet and was trading at $52,669. Tesla Inc revealed in February it had bought $1.5 billion of bitcoin, before it began accepting it as payment for cars in March, driving a roughly 20% surge in the world s most widely held cryptocurrency.
Tesla investor sues Musk over erratic tweets, failure in ensuring compliance
The complaint highlighted several Musk posts on social media platform Twitter, including his assessment last May 1 that Tesla s stock price was too high, prompting a more than $13 billion tumble in Tesla s market value
Reuters | March 13, 2021 | Updated 08:11 IST
Tesla Inc Chief Executive Elon Musk
Tesla Inc Chief Executive Elon Musk has been sued by a shareholder who accused him of violating his 2018 settlement with the US Securities and Exchange Commission over his Twitter use.
According to a complaint unsealed late Thursday in Delaware Chancery Court, which also names the electric car company s board as defendants, Musk s erratic tweets and the failure of Tesla directors to ensure he complied with the SEC settlement have exposed shareholders to billions of dollars of losses.