SEC Sent a Request to Tesla Regarding Tweets of Elon Musk

musk wants to make tesla private

The Securities and Exchange Commission (SEC) has sent Tesla Inc. a request concerning its executive director Elon Musk and his messages on Twitter about the plans to privatize the company, reports The New York Times.

The regulator requests information from each of the Tesla directors . The Commission is interested in whether Musk had any actual grounds for such statements, and the SEC intends to find out why such important information was provided to them publicly, via the social network.

Last week, the directors were outraged when the head of Tesla wrote details of the deal to transfer Tesla from a publicly traded company to a private company.

The representatives of Tesla were sure that Elon Musk was “out of control” and asked him to stop discussing the situation in the company on Twitter. Nevertheless, Mask continued to publish messages on the social network, publicly revealing the details of the company’s strategy and issuing “dubious” information.

We remind you that Twitter has recently begun blocking accounts containing the name of Elon Musk.

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Japan Released New Rules In Crypto Margin Trading

Japan is a progressive country in terms of economy, as well as cryptocurrency regulation. This time Japanese financial authorities have released a new set of rules regarding crypto margin trading.

Margin trading is a strategy that allows a trader to buy more stocks than you can afford on money borrowed from a broker (similar to loan).

The Cabinet of Japan approved draft amendments to Japanese financial instruments and payment services laws on Friday. In fact, they will limit leverage in virtual currency margin trading at two to four times initial deposits. Such restrictions are a common practice in foreign exchange trading.

All crypto exchanges throughout the country are bound to get governmental registration. This type of registration will differ from that adopted in 2017, which was mostly focus on preventing money laundering. However, these rules make exchange operators be monitored in a way similar to securities traders to protect investors.

These crypto exchange operators will be classified into categories to differentiate those who involved in margin trading from those who issued ICO tokens. This will help to distinguish unsavory offerings that are similar to frauds or Ponzi schemes and protect investors from losing their money. The new rules will come into force in April 2020. All margin cryptocurrency exchange operators have to be registered within 18 months of that date.

Such a time limit is set to take down unregistered “quasi-operators” which conduct operations without governmental approval. A senior FSA official said:

“We intend to motivate operators to do what they can to become registered.”

We remind you

Japan’s Biggest Bank Is Not Going To Create Its Own Cryptocurrency: Fake News Is Not Confirmed

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Elon Musk Showed Fans the First Teaser of the Tesla Electric Pickup Truck

Recall that last Friday there was a presentation of a younger crossover – Model Y in the design studio of Tesla company. The new car was perceived ambiguously, some fans expected the crossover to have more differences from the compact Model 3 sedan. Although it was quite expected since the characteristics of Model Y have been known for a long time.

It is also known that the next presentation, which Elon Musk will carry for Tesla, will concern a car with a completely new design – an electric pickup, which does not have a name yet.

Just recently, Musk confirmed that the new pickup will have a very futuristic design that he personally likes very much. Literally, right after the presentation of the compact crossover, Elon posted a teaser for new pickup on Twitter.

Of course, it is very difficult to see any elements of the exterior on this picture, but most users agreed that the teaser shows the hood of the upcoming new pickup.

There is still very little information about this car:

  • it will have crazy power and torque;
  • power reserve will be 600 – 750 km;
  • and of course, the pickup will be equipped with a full autopilot;
  • it should be presented this year;
  • its mass production will begin no earlier than 2021-2022.

We will closely follow the news and provide you with the latest information.

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Winklevoss’ Brothers Said “Crypto Doesn’t Need Rules”, What About Crypto Companies?

Winklevoss twins are one of the most influential crypto personalities in the modern world. They are multi-millionaires with their own exchange – Gemini – and own dollar-pegged Gemini coin. It is no secret that the brothers have supported crypto since the beginning of it, but now they promote crypto regulation which confronts with the idea of crypto as well as with their billboard slogans. What happened?

Crypto Needs Or Doesn’t Need Rules

The twins are known for deconstructing the stereotypes and the myths that surround crypto in the public. They want to change the image of crypto that has been plagued with scams, hacks, frauds. However, their billboard slogan “Crypto Needs Rules” was criticized by Bitcoin users as the main meaning of crypto is to transfer money or digital assets without having to trust anyone.

Source: Bitcoinist

Cameron Winklevoss said that some people wondered why Gemini believes that the crypto revolution needs rules. He responded:

“Crypto doesn’t need rules, but the companies built on top of it do.”

Cameron also cited a part of report regarding to the defunct QuadrigaCX exchange which lost millions of dollars.

In order to prevent cases like QuadrigaCX and Mt.Gox, the latter’s CEO was sentenced to 2 years and six months in prison, the companies that provide custodial services of customers assets should be regulated. Furthermore, Winklevoss pointed out that these cases as well as other incidents could have been preventable if there was a proper management of the company, in particular, “proper rules and thoughtful regulation”.

We remind you

The Gemini Dollar of Winklevoss Brothers Is Officially Approved

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Tesla Model Y Reveal Was Not Impressive Which Resulted in a Significant Drop of Tesla Shares

Usually all news about Tesla is divided into news of Elon Musk posting something strange or controversial on Twitter and the actual news on Tesla vehicles. Furthermore, if a price drop of Tesla shares is observed, it is usually connected to the first category of news.

However, this time it seems like Elon Musk didn’t post anything to send the share price into the downfall direction, people just didn’t quite enjoy the newly announced Tesla Model Y.

Elon Musk has strongly decided to make his vehicles more accessible to larger amounts of people, thus establishing much lower prices for Tesla’s later releases. Model Y is his third attempt to enter the car mass market. So what could have disappointed the community so much that it made TSLA price plummet down?

Source: Yahoo Finance

So why wasn’t Tesla Model Y welcomed warmly?

Price

There are two main factors which could have influenced the situation with the shares. Firstly, it is the price of Tesla Model Y. Although it was presented as a more affordable, mass market vehicle, its cost remains unbelievably high.

The starting price of the cheapest, standardized version of Model Y is 39 thousand dollars, while the long range one and Model Y Performance will retail for 47 and 60 thousand dollars correspondingly. Moreover, this is the cost of a bare car, extra details and features will add to the price significantly.

Many experts argue that despite the fact the price of Tesla Model Y is much higher than the similar SUVs, and not everybody believes that this cost is justified.

Nothing new

As we have already mentioned in our review of Model Y, this car shares 70% of details with its predecessor Model 3. The design of the two vehicles is also pretty similar.

Many people were displeased with the fact that Tesla hasn’t added any brand new features to their new car. Model Y looks just like an upgraded version of Model 3, so many people don’t see the need to purchase it.

Thus, these two factors summed up and resulted in an almost 5% drop of Tesla share price.

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Tesla Announces Its Model Y Vehicle with the Starting Price of 47 Thousand Dollars

Not much time has passed since the electromobile company Tesla put out its long-awaited Model 3 on sale, and now we hear another loud announcement from Elon Musk. Tesla has introduced the 5th vehicle in its line and the 2nd mass-market car during the conference in Los Angeles – Model Y.


Source: Tesla

The new cars will be available for sale either in the spring of 2020 or in the autumn of 2021. As usual, the customers will be able to choose between the two versions of the car: a standardized one and a long-range one, plus there is a bonus.

The former (standard version) is able to travel 230 miles without a recharge. It accelerates from 0 to 60 miles per hour in 5.9 seconds, its maximum speed is 120 miles per hour. This is the cheapest car among the others, the starting price is 39 thousand dollars. However, the vehicle will be available for sale only in 2021.

The long-range Model Y is capable of travelling 300 miles without a recharge, takes 5.5 seconds to reach a speed of 60 miles per hour, and the maximum speed is 130 miles per hour. It is going to retail for 47 thousand dollars. It will be the first car to come out, you will be able to purchase it in 2020.

Moreover, Tesla announced its more upgraded development – Performance. This Model Y Tesla can accelerate from 0 to 60 miles per hour in only 3.5 seconds. Its maximum speed is 150 miles per hour and it will travel 280 miles without a recharge. This car will retail for whopping 60 thousand dollars and will also be put on sale in 2020 together with the long-range Model Y.

The design of Model Y is pretty similar to Model 3, furthermore, these two vehicles share 70% of the same technological components.

Elon Musk is quite proud of his brand new “child”.

It has the functionality of an SUV, but it will ride like a sports car. So this thing will be really tight on corners,” he said.

Tesla’s CEO also claimed that Model Y is going to be the safest midsize sports utility vehicle, which will definitely provide for high evaluation from the customers. We will have to see about that given the fact that Musk said similar things about Model 3, and one of such cars got involved in a serious car accident only a few days after it had been put out for sale.

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The First Movie About Cryptocurrency Has the First Trailer Out

As we reported earlier, cryptocurrency was going to make its appearance in art, mainly in cinematography. We presented to you the plans on the movie featuring crypto with Kurt Russell playing one of the main roles. However, back then it was still unclear whether this film will actually see the world or not.

Now it’s absolutely obvious – it will. The first trailer of “Crypto” has dropped recently and created massive hype around it.

The description of the trailer is quite promising. It says:

In this cyber-thriller starring Kurt Russell and Beau Knapp, a Wall Street banker connects a small-town art gallery to a global conspiracy, putting his own family in grave danger.”

Let’s find out more about the upcoming movie.

Crypto was directed John Stalberg Jr. and a star-studded cast of Hollywood stars, such as Kurt Russell, Luke Hemsworth, Alexis Bledel, Beau Knapp, Jeremie Harris, Vincent Kartheiser and others.

The plot of Crypto, the movie, focuses on the character of Beau Knapp, who is a cyber security expert, the best one when it comes to fight money laundering. He is sent to a small American town Elba in order to track down and stop the group of hackers who are obviously laundering Bitcoins.

The upcoming movie will show a crypto exchange, which looks oddly similar to Coinbase, where Bitcoin Cash will be listed at a price of almost 1 thousand dollars. Moreover, no American thriller could ever be made without the appearance of Russian mafia.

Overall, Crypto did a good job with the first trailer and created the necessary effect – everybody is intrigued and interested.

The film will be out in selected cinemas on April 12. Also it will be available on demand. We will surely report a detailed review on this crypto-related art piece after it is released.

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