Key Takeaways
- Since the sale of billions of dollars worth of Tesla stock, Tesla CEO Elon Musk has done just that.
- Twitter has formed a new team focused to exploring the potential of decentralized applications.
- An ETF based on the spot market will be Bitwise Asset Management's primary goal.
More than 934,000 Tesla shares worth roughly $1.1 billion were sold on Thursday, according to SEC filings published on Thursday.
At an average price of $1,175, Musk sold the shares for approximately 180% of their value in the last year. Only three times since Tesla went public on the Nasdaq in 2010 has Musk sold company shares, and this is his biggest transaction.
Back in September, the documents reveal that Musk had intended to sell the shares in order to pay his taxes. During the weekend, he asked his 63 million Twitter followers whether he should sell 10% of his Tesla stock. Almost 58 percent of the 3.5 million people who responded answered yes. There are more than 170 million shares still owned by Tesla CEO Elon Musk after this transaction.
According to his answer to the question, "I do not accept a financial income or bonus from anyone." "I only have stock, therefore selling shares is the only way I can pay my taxes."
Twitter has announced the creation of a dedicated crypto team to investigate decentralized applications.
According to the Financial Times, Tess Rinearson has been hired to lead a new team, branded Twitter Crypto, which will be responsible for creating the "plan for the future of crypto at (and on) Twitter."
'I'm excited to report that I've joined Twitter, to manage a team focusing on crypto, blockchains, and other decentralized technologies—including but not limited to cryptocurrency,' Rinearson tweeted.
This is all about decentralizing social media and enabling content producers to earn bitcoin, according to Twitter Crypto.
Bitwise Is Rolling Back BTC Futures ETF
According to Bitwise Asset Management, it has withdrawn its application to the US Securities and Exchange Commission (SEC) for a bitcoin [futures-backed exchange-traded fund (ETF)]()https://remitano.com/forum/post/14057-bitcoin-futures-etf-almost-surpassed-1-dollars-billion-after-it-launched).
A futures-based ETF was withdrawn by Bitwise's chief investment officer Matt Hogan due to "additional complexity" and "higher than estimated expenses," he said.
On Wednesday, Hougan tweeted a lengthy explanation of the company's decision. According to him, they first anticipated that futures ETFs' simplicity and accessibility would balance the disadvantages of contango, which is the tendency for longer-dated futures contracts to trade at a higher price than spot.
What do you make of recent events? Let’s discuss below.
