Connect with us
[crypto-donation-box]

Blockchain

Tesla Failing To Monitor Musk’s Tweets, According To SEC Letters – WSJ

Tesla tweets monitor WSJ

Rate this post The Wall Street Journal or WSJ reported on Tuesday that a US securities inspector notified Tesla Inc (TSLA.O) last year that Chief Executive Officer Elon Musk’s use of Twitter had twice failed to monitor his tweets to be preapproved by the company lawyers. Why Did Tesla Fail To Monitor Musk’s Tweets as claimed in WSJ Report A Tesla shareholder is suing the company’s board of directors and Musk for continuing to publish ‘erratic tweets.’ The complaint, filed in Delaware Chancery Court by investor Chase Garrity, was unsealed on Friday.  It claims Musk is exposing the company to potential regulatory fines and penalties, which might lead to a drop in the business’s share price. The lawsuit accuses the board of failing to oversee Musk’s activities, which it claims puts the company at risk. The deal allows Musk to tweet whenever he wants, except when it comes to specific events or financial milestones. The April 2019 agreement was the result of a years-long battle between Musk and the SEC that began with his controversial August 7, 2018 tweet. Musk and Tesla reached an agreement with the SEC without admitting any wrongdoing.  On February 19, 2019, Musk tweeted that Tesla would produce ‘about’ 500,000 cars that year, reigniting the debate. Elon Musk’s Twitter Has Ended The post caused shares to plummet roughly 12% in the half-hour following his stock price tweets. Musk then clarified in an email to the Wall Street Journal that he was not joking. According to the lawsuit, the Tesla board has also failed to hire a general counsel ‘who can provide advice untainted by Musk’s activities that have resulted in ‘severe damage,’ including billions of dollars in market value losses. The SEC stated in a letter addressed to Tesla in 2019 and 2020 that tweets Musk made about Tesla’s solar roof production quantities and stock price were not preapproved by Tesla’s lawyers, according to the Journal, citing previously unreported records of communication. The WSJ stated, citing a letter signed by a senior SEC employee, that “Tesla has abdicated the duties demanded of it by the court’s ruling.” The SEC and Tesla did not immediately reply to calls for comment.

The post Tesla Failing To Monitor Musk’s Tweets, According To SEC Letters – WSJ appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

The Wall Street Journal or WSJ reported on Tuesday that a US securities inspector notified Tesla Inc (TSLA.O) last year that Chief Executive Officer Elon Musk’s use of Twitter had twice failed to monitor his tweets to be preapproved by the company lawyers.

Why Did Tesla Fail To Monitor Musk’s Tweets as claimed in WSJ Report

A Tesla shareholder is suing the company’s board of directors and Musk for continuing to publish ‘erratic tweets.’ The complaint, filed in Delaware Chancery Court by investor Chase Garrity, was unsealed on Friday. 

It claims Musk is exposing the company to potential regulatory fines and penalties, which might lead to a drop in the business’s share price. The lawsuit accuses the board of failing to oversee Musk’s activities, which it claims puts the company at risk. The deal allows Musk to tweet whenever he wants, except when it comes to specific events or financial milestones.

The April 2019 agreement was the result of a years-long battle between Musk and the SEC that began with his controversial August 7, 2018 tweet. Musk and Tesla reached an agreement with the SEC without admitting any wrongdoing. 

On February 19, 2019, Musk tweeted that Tesla would produce ‘about’ 500,000 cars that year, reigniting the debate.

Elon Musk’s Twitter Has Ended

The post caused shares to plummet roughly 12% in the half-hour following his stock price tweets. Musk then clarified in an email to the Wall Street Journal that he was not joking.

According to the lawsuit, the Tesla board has also failed to hire a general counsel ‘who can provide advice untainted by Musk’s activities that have resulted in ‘severe damage,’ including billions of dollars in market value losses.

The SEC stated in a letter addressed to Tesla in 2019 and 2020 that tweets Musk made about Tesla’s solar roof production quantities and stock price were not preapproved by Tesla’s lawyers, according to the Journal, citing previously unreported records of communication.

The WSJ stated, citing a letter signed by a senior SEC employee, that “Tesla has abdicated the duties demanded of it by the court’s ruling.” The SEC and Tesla did not immediately reply to calls for comment.

READ  Bitcoin PARABOLIC!! | $9,500 Next Stop?? | Bitcoin Maximalism Vs. Altcoin Hype | BTC On Excel

#Chase Garrity #Delaware Chancery Court #Elon Musk #Elon Musk Tweet #Securities and Exchange Commission (SEC) #The Wall Street Journal

Source: https://www.cryptoknowmics.com/news/tesla-failing-to-monitor-musks-tweets-according-to-sec-letters-wsj/

Blockchain

How Many Bitcoin U-Turns? Goldman Sachs Now Says Bitcoin Is Not a Viable Investment

Republished by Plato

Published

on

The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.”

Crypto Is Not a Viable Investment: Goldman

It’s safe to say that Goldman Sachs has displayed a controversial approach to the cryptocurrency space. The latest report coming from the Wall Street giant takes it back a notch by going to its hostile policy from previous years.

Titled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” it touched upon some of the most recent concerns, including high energy consumption required in the process of mining. This topic was raised in May by Tesla’s Elon Musk, who criticized BTC for using too much coal fuel.

Despite numerous reports claiming otherwise, Tesla disabled bitcoin payments citing environmental issues.

The paper also touched upon cryptocurrencies’ usage in ransomware attacks after numerous hacks transpired on US soil in recent months. After each, the perpetrators indeed requested the payments to be sent in bitcoin.


ADVERTISEMENT

Furthermore, the document named impending regulations as the “biggest risk to the speculative aspects of this ecosystem.” Keeping in mind all of these concerns, the bank concluded:

“After analyzing various valuation methodologies and applying our multi-factor strategic asset allocation model, we have concluded that cryptocurrencies are no a viable investment for our clients’ diversified portfolios.”

How Many U-Turns?

The mentioned-above word ‘controversial’ might not be strong enough to describe Goldman’s ever-changing views on the industry.

The institution was among the first regulated entity to launch a crypto trading desk all the way back in 2017. Yet, that came amid the parabolic price increases, and when the year-long bear market followed, Goldman halted the initiative.

In the meantime, Goldman held a conference call in which it said bitcoin is not an asset class. Bank executives repeatedly questioned BTC’s ability to serve as a reliable store of value and blasted its volatility.

Yet again, Goldman restarted the trading desk this year when, once again, prices were skyrocketing to new highs. It also filed for a Bitcoin ETF with the SEC, explored launching custody services, added BTC to its year-to-date returns report, participated in investment rounds in crypto projects, and enabled clients to trade bitcoin derivatives.

With all of that in mind, it’s not such a surprise that Alex Kruger and other crypto community members viewed Goldman’s latest U-turn as nothing out of the ordinary.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/how-many-bitcoin-u-turns-goldman-sachs-now-says-bitcoin-is-not-a-viable-investment/

Continue Reading

Blockchain

Ethereum: Will this level hold in the face of selling pressure?

Republished by Plato

Published

on

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The weekend curse seemed to continue as the global cryptocurrency market opened in the red on yet another Saturday. Ethereum was no exception to the trend and found itself burdened by selling pressure. At press time, the world’s largest altcoin was trading at $2,227, down by 4% in the last 24 hours.

Ethereum 1-day chart

Source: ETH/USD, TradingView

Ethereum’s daily chart pictured an ascending triangle breakdown after the price was rejected at the 20-SMA (red) and $2,540 resistance. A southbound trend ensued and losses amounted to over 13% from the bottom trendline of the pattern. The next question was – What level could provide support for ETH’s downfall?

23 April’s swing low of $2,080 was one defensive option. A bounce back from this region triggered a 100% rally in end-April and saw the digital asset hit its ATH above $4,000. While a similar outcome is certainly unlikely in a bear market, the line could offer support nonetheless.

Further down the charts, another support line rested at 23rd May’s swing low of $1,730. This area was further bolstered by the 200-SMA (green). Once ETH finds its resting ground, the focus would switch to certain resistance levels but the bulls would face an uphill task to target a break above $2,900.

Reasoning

The Relative Strength Index has been unable to break above 50 since the 19th May crash. This indicated that bears were still in control of market prices despite several recovery attempts over the last few weeks. The MACD did see some choppy movement since June but the same has failed to rise above equilibrium. Moreover, the On Balance Volume’s downtrend suggested that selling pressure was still dominant in the market.

While more downside was certainly on the cards, ETH’s support zones can be expected to alleviate incoming selling pressure. However, the price would be constrained going forward. The 20-SMA hovered next to $2,540 and gains would likely be contained below this line over the coming days. Even in the unlikely event of a breakout, ETH did not look ready to climb above $2,900 just yet.

Conclusion 

Ethereum can be expected to find support around $2,080-2,000 region moving forward. A sturdier form of defense rested at $1,730, should it be called into action. In case of a bullish resurgence, ETH could struggle to break above $2,540 over the coming days as bears still had the upper hand.


Subscribe to our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/ethereum-will-this-level-hold-in-the-face-of-selling-pressure

Continue Reading

Blockchain

Scammers are Sending Fake Ledger Wallets to Steal Cryptocurrencies

fake ledger devices

Rate this post Scammers are sending fake Ledger replacement devices to the victims of hacked users exposed in the recent Ledger data breach in order to steal their cryptocurrencies. Victims Of Ledger Hack Receives Fake Hardware Wallet Victims of hacked customer data held by Ledger, which happened almost a year ago are still being targeted by scammers. Over 1 million victims of the hack had their details exposed, including their names, phone numbers, and email addresses with more than 200,000 people also having their home addresses being exposed. Now, scammers have taken a new turn by mailing the same hacked victims fake replacement devices in order to steal their private seeds. A Reddit user initially reported receiving a fake Ledger Nano X device in the mail in an authentic-looking package which included a letter stating the user needed to replace their current wallet for safety reasons. In a Ledger blog post on June 17th, explaining the scam, the company said the box includes a fake letter explaining the “need to replace your existing hardware wallet to secure your funds. This is a scam. The Ledger Nano is fake.” Fake Wallets Designed to Steal User’s Cryptocurrencies The device came in an authentic-looking packaging, with a poorly written letter explaining that the device was sent to replace their existing purportedly signed by Ledger CEO Pascal Gauthier. By tampering with the device, the malicious actors hope to get the victims typing in their recovery words into the fake app, which would enable them to take control of the victim’s funds and gain access to the funds. Last year, customers of Ledgers suffered two significant data leaks, with the first that took place on July 14, when an unidentified third party accessed over one million emails and 9,500 addresses of its customers. The second happened on December 20 when the information was leaked to the internet for free, resulting in a series of phishing and scam attacks by mail.

The post Scammers are Sending Fake Ledger Wallets to Steal Cryptocurrencies appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

Scammers are sending fake Ledger replacement devices to the victims of hacked users exposed in the recent Ledger data breach in order to steal their cryptocurrencies.

Victims Of Ledger Hack Receives Fake Hardware Wallet

Victims of hacked customer data held by Ledger, which happened almost a year ago are still being targeted by scammers.

Over 1 million victims of the hack had their details exposed, including their names, phone numbers, and email addresses with more than 200,000 people also having their home addresses being exposed.

Now, scammers have taken a new turn by mailing the same hacked victims fake replacement devices in order to steal their private seeds.

READ  Michael Saylor Says $400M Bitcoin Reserve Holdings Could Be Liquidated

A Reddit user initially reported receiving a fake Ledger Nano X device in the mail in an authentic-looking package which included a letter stating the user needed to replace their current wallet for safety reasons.

In a Ledger blog post on June 17th, explaining the scam, the company said the box includes a fake letter explaining the “need to replace your existing hardware wallet to secure your funds. This is a scam. The Ledger Nano is fake.”

Fake Wallets Designed to Steal User’s Cryptocurrencies

The device came in an authentic-looking packaging, with a poorly written letter explaining that the device was sent to replace their existing purportedly signed by Ledger CEO Pascal Gauthier.

By tampering with the device, the malicious actors hope to get the victims typing in their recovery words into the fake app, which would enable them to take control of the victim’s funds and gain access to the funds.

READ  Ledger Live New Version Launches Coin Control Feature To Protect Bitcoin Transaction

Last year, customers of Ledgers suffered two significant data leaks, with the first that took place on July 14, when an unidentified third party accessed over one million emails and 9,500 addresses of its customers. The second happened on December 20 when the information was leaked to the internet for free, resulting in a series of phishing and scam attacks by mail.

#Ledger #Ledger Data Breach

Source: https://www.cryptoknowmics.com/news/scammers-are-sending-fake-ledger-wallets-to-steal-cryptocurrencies/

Continue Reading
5 days ago

Valorant Ep. 2 FORMATION Player Card: How to Claim

News5 days ago

The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects

Blockchain2 days ago

GSA To Add Litecoin For The First Time In Upcoming Cryptocurrency Auction

Uncategorized2 days ago

The World Bank wants no part in El Salvador’s Bitcoin revolution

Blockchain3 days ago

Survey: Hedge Funds Intend To Hold $300 Billion In Crypto Within 5 Years

Uncategorized4 days ago

Banks Should be Scared of DeFi Warns Mark Cuban

Uncategorized2 days ago

Healthcare: A trillion dollar opportunity for blockchain?

Blockchain5 days ago

Grayscale to Unlock 16,000 Bitcoin Shares on July 19

Blockchain4 days ago

Coinbase Pro to List Dogecoin Rival Shiba Inu, Token Gains 33% in Price

Blockchain5 days ago

Edgewater Markets Taps Michael Cleary as Its New Director of Sales

Blockchain5 days ago

Deadpool Soundtrack Composer Tom Holkenborg To Auction ‘Soundtrack Of Your Life’ NFT

Blockchain5 days ago

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Blockchain2 days ago

Maiar, The Money App Powered By The Elrond Blockchain, Adds Bitcoin

Blockchain4 days ago

PARSIQ Raises $3M in Strategic Venture Round Joined by Solana, and Others

Blockchain5 days ago

All About Solana And Why It’s The Game-Changer Crypto Of The Year

Blockchain2 days ago

Decentral Games: Next gen blockchain entertainment platform

Blockchain1 day ago

Paraguayan Official Confirms: In July We Legislate Bitcoin

Blockchain5 days ago

Ethereum Follows BTC And Rallies Above $2500: Price Analysis

Blockchain3 days ago

Cardano’s buyers have this role to play in the near term

Blockchain1 day ago

Global Financial Indexes Provider MSCI Plans to Launch Crypto Indexes

Trending