Elon Musk Owns BTC, ETH, and DOGE


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Elon Musk admitted that he personally owns Bitcoin, Ether and Dogecoin, and both Tesla and SpaceX also own Bitcoins

Musk Discusses Cryptocurrency at The B Word Conference

Elon Musk spoke at length about cryptocurrencies during a recent conference. The Tesla boss revealed that he currently owns Bitcoins, ether and Dogecoin. However, he admitted that he has more Bitcoin than other cryptocurrencies.

He also revealed that Tesla still holds Bitcoin, adding that his space company SpaceX also has a stockpile of bitcoins. However, he did not reveal how many Bitcoins SpaceX actually owns at the moment. Despite his recent criticism of Bitcoin, Musk said he appreciated the leading cryptocurrency and expects Tesla to accept Bitcoin as a means of payment again, as more miners now use renewable energy sources, as opposed to environmentally harmful non-renewable energy.

FTX raises a record $ 900 million in private capital

Cryptocurrency exchange FTX has raised $ 900 million in a Series B funding round, reaching a valuation of $ 18 billion. The financing represents the largest private equity round in the history of the cryptocurrency space. For FTX, it’s been an impressive journey after the crypto exchange was valued at $ 1.2 billion just a year ago. The exchange, led by Sam Bankman-Fried, will use the funds for acquisition purposes and expand into other areas of the cryptocurrency market, including non-fungible tokens (NFTs).

JPMorgan Opens its Doors to Wealthy Clients for access to cryptocurrencies

Leading US investment bank JPMorgan Chase has reportedly begun allowing exposure to cryptocurrencies to its wealthy clients. The bank shared this information with its financial advisors and asked them to accept buy and sell orders from customers regarding cryptocurrencies. Clients will receive exposure to cryptocurrencies through five approved funds: Grayscale’s Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, and Osprey Funds‘ Bitcoin Trust. JPMorgan thus joins Morgan Stanley in offering access to cryptocurrencies to its wealthy clients.

Mastercard improves Crypto payments on its network

Mastercard announced earlier this week that it would expand its services to cryptocurrency companies to make it easier for people to convert cryptocurrencies to fiat currencies and vice versa. The company announced it will expand its card program for cryptocurrency exchanges and wallets. The goal is to make it easier for Mastercard’s partners to exchange cryptocurrency for traditional fiat currency. Mastercard is working with Circle, Evolve Bank & Trust and Paxos Trust Company to improve cryptocurrency service. The new feature will allow more banks and crypto-focused businesses to offer a card option for customers who want to spend their cryptocurrencies wherever Mastercard is accepted.

Binance suspends trading of tokenized shares

The world’s largest crypto exchange Binance announced earlier this week that it has stopped trading tokenized stocks. The company made this decision after facing severe regulatory challenges in the UK and now in Italy. Binance previously offered the digital version of stocks such as Tesla, Microsoft, Apple and more. However, the exchange said that Binance.com will no longer support stock tokens after October 14, 2021.

European Commission Wants to Ban Anonymous Crypto Transactions

The European Commission has proposed that anti-money laundering and terrorist financing (AML/CFT) laws should be extended to cryptocurrencies. This implies the desire of the regulator to ban anonymous cryptocurrency transactions in the European Union. The proposed reform will ensure that all service providers carry out a due diligence of their customers before they are allowed to use certain services. According to the European Commission, the reform will not affect the growth of the cryptocurrency market.

The French government has since recommended that the European Securities and Markets Authority (ESMA) be tasked with regulating cryptocurrency across Europe. The move will ensure uniform regulation of cryptocurrencies across the EU, making it easier for crypto companies to operate in different countries.

Grayscale launches DeFi fund

Digital asset manager Grayscale has launched a fund that gives investors access to the decentralized financial market (DeFi). The Grayscale DeFi Fund is designed to provide investors with exposure to a wide range of industry-leading DeFi protocols through a market capitalization-weighted portfolio. The fund aims to provide institutional investors with exposure to the leading DeFi tokens such as Aave, Uniswap and more.

Grayscale also announced this week that it has committed to turning its flagship Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund (ETF). Grayscale CEO Michael Sonnenshein told CNBC that a Bitcoin ETF in the United States is a matter of when, not if. With numerous proposals available to the US Securities and Exchange Commission (SEC), market participants are confident that the SEC will choose at least one of them.

Yellen Wants Stablecoin Regulation in the United States

US Treasury Secretary Janet Yellen has asked the Presidential Working Group on Financial Markets (PWG) to propose regulatory measures for stablecoins. According to Yellen, the group must work quickly to ensure an adequate U.S. regulatory framework. The United States is concerned about the rising popularity of stablecoins. These are digital currencies whose values are tied to fiat currencies. Therefore, unlike other cryptocurrencies, the value of stablecoins does not fluctuate. Governments around the world are concerned that large tech companies could enter the stablecoin market and challenge central banks for financial supremacy.