Looks like Bitcoin is called 'digital gold' not for nothing. It's now second only to gold in the exchange traded funds assets in the US stock market.

Bitcoin exchange traded funds (ETF) was introduced in the US market earlier this month, after much speculation and even an alleged 'hacking' of watchdog Securities and Exchange Commission's X social media account.

The cryptocurrency is on fire in the segment now, even ahead of silver and just behind gold.

Just days into their introduction, bitcoin ETFs have nearly $30 billion in assets under management or AUM. Silver ETFs only have $11bn AMU, while gold still tops, with roughly $95bn. 
 
WATCH:&nbsp;Bitcoin enters its sweet sixteen

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An exchange-traded fund (ETF) is "a basket of securities that trades on an exchange just like a stock does," as per a definition in Investopedia.

 
ETFs will track a particular index, sector, commodity, or other asset and can be purchased or sold on a stock exchange like a regular stock.

Also read: <a href="https://www.wionews.com/business-economy/us-sec-claims-its-x-account-hacked-after-giving-fake-nod-to-bitcoin-etfs-678529">US: SEC claims its X account hacked and gave fake nod to Bitcoin ETFs</a> 
 
 
Bitcoin, one of the strongest and oldest cryptocurrencies, has seen massive ups and downs in its value in the 15 years of its existence. But the ETFs of Bitcoin are now nearing the safe-haven asset: gold.

 
According to a report on Coindesk website on Wednesday (Jan 18), the ETF inflows are near $1 billion, which is about 21,000 Bitcoin.

 
"BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin, followed by Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin. Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 Bitcoin, brought down the overall industry inflow," Coindesk reported.

 
Also read:&nbsp;<a href="https://www.wionews.com/business-economy/bitcoin-etfs-make-a-splash-on-debut-trading-at-46-billion-in-the-first-day-679243">Bitcoin ETFs make a splash on debut, trading at $4.6 billion on the first day</a> 
 
Ophelia Snyder, the co-founder of 21Shares, the world's largest crypto ETP provider, wrote on X that it's&nbsp; "a fantastic validation of Bitcoin’s role as a reserve product and of the demand for Bitcoin exposure in financial markets".

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Wow. This was way beyond my short term expectation but is a fantastic validation of Bitcoin’s role as a reserve product and of the demand for bitcoin exposure in financial markets. Onwards! <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/AtL0lgzI3C">https://t.co/AtL0lgzI3C</a>
— Ophelia Snyder (@OpheliaBSnyder) <a href="https://twitter.com/OpheliaBSnyder/status/1748071064578466083?ref_src=twsrc%5Etfw">January 18, 2024</a></blockquote>
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<h2>How big is the 10bn volume of Bitcoin ETF? Putting things in context</h2>

"Let me put into context how insane $10 billion in volume is in first 3 days," wrote Eric Balchunas, a senior ETF Analyst for Bloomberg, in a post on X.

He pointed out that 500 ETFs were launched in 2023.&nbsp;

"Today, they did a COMBINDED $450m in volume. The best one did $45m. And many have had months to get going."

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Let me put into context how insane $10b in volume is in first 3 days. There were 500 ETFs launched in 2023. Today, they did a COMBINDED $450m in volume. The best one did $45m. And many have had months to get going. <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> alone is seeing more activity than the entire '23 Freshman… <a href="https://t.co/wV1zQFtPW1">https://t.co/wV1zQFtPW1</a>
— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1747385703971860617?ref_src=twsrc%5Etfw">January 16, 2024</a></blockquote>
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But there's a note of caution: Bitcoin prices are still falling in the spot market.

 
The cryptocurrency fell another 4.5 per cent&nbsp;on Thursday (Jan 18) to $40,800. That's the lowest in a month.

(With inputs from agencies)

Looks like Bitcoin is called 'digital gold' not for nothing. It's now second only to gold in the exchange traded funds assets in the US stock market. Bitcoin exchange traded funds (ETF) was introduced in the US market earlier this month, after much speculation and even an alleged 'hacking' of watchdog Securities and Exchange Commission's X social media account.

Looks like Bitcoin is called 'digital gold' not for nothing. It's now second only to gold in the exchange traded funds assets in the US stock market. Bitcoin exchange traded funds (ETF) was introduced in the US market earlier this month, after much speculation and even an alleged 'hacking' of watchdog Securities and Exchange Commission's X social media account. The cryptocurrency is on fire in the segment now, even ahead of silver and just behind gold. Just days into their introduction, bitcoin ETFs have nearly $30 billion in assets under management or AUM. Silver ETFs only have $11bn AMU, while gold still tops, with roughly $95bn. WATCH: Bitcoin enters its sweet sixteen × An exchange-traded fund (ETF) is "a basket of securities that trades on an exchange just like a stock does," as per a definition in Investopedia. ETFs will track a particular index, sector, commodity, or other asset and can be purchased or sold on a stock exchange like a regular stock. Also read: US: SEC claims its X account hacked and gave fake nod to Bitcoin ETFs Bitcoin, one of the strongest and oldest cryptocurrencies, has seen massive ups and downs in its value in the 15 years of its existence. But the ETFs of Bitcoin are now nearing the safe-haven asset: gold. According to a report on Coindesk website on Wednesday (Jan 18), the ETF inflows are near $1 billion, which is about 21,000 Bitcoin. "BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin, followed by Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin. Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 Bitcoin, brought down the overall industry inflow," Coindesk reported. Also read: Bitcoin ETFs make a splash on debut, trading at $4.6 billion on the first day Ophelia Snyder, the co-founder of 21Shares, the world's largest crypto ETP provider, wrote on X that it's "a fantastic validation of Bitcoin’s role as a reserve product and of the demand for Bitcoin exposure in financial markets". Wow. This was way beyond my short term expectation but is a fantastic validation of Bitcoin’s role as a reserve product and of the demand for bitcoin exposure in financial markets. Onwards! #Bitcoin https://t.co/AtL0lgzI3C — Ophelia Snyder (@OpheliaBSnyder) January 18, 2024 × How big is the 10bn volume of Bitcoin ETF? Putting things in context "Let me put into context how insane $10 billion in volume is in first 3 days," wrote Eric Balchunas, a senior ETF Analyst for Bloomberg, in a post on X. He pointed out that 500 ETFs were launched in 2023. "Today, they did a COMBINDED $450m in volume. The best one did $45m. And many have had months to get going." Let me put into context how insane $10b in volume is in first 3 days. There were 500 ETFs launched in 2023. Today, they did a COMBINDED $450m in volume. The best one did $45m. And many have had months to get going. $IBIT alone is seeing more activity than the entire '23 Freshman… https://t.co/wV1zQFtPW1 — Eric Balchunas (@EricBalchunas) January 16, 2024 × But there's a note of caution: Bitcoin prices are still falling in the spot market. The cryptocurrency fell another 4.5 per cent on Thursday (Jan 18) to $40,800. That's the lowest in a month. (With inputs from agencies)

ETFs for Bitcoin are now second only to gold, ahead of silver: Digital gold?

In a significant legal victory for Ripple Labs Inc, a U.S. judge ruled that the company did not violate federal securities law by selling its XRP token on public exchanges, Reuters reported. The ruling by U.S. District Judge Analisa Torres marked the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission (SEC). However, the SEC did secure a partial victory as well.

Following the announcement of the ruling, XRP experienced a surge in value, increasing by 75 per cent, according to Refinitiv Eikon data. The decision is specific to the facts of the case but is expected to provide ammunition for other crypto firms involved in similar battles with the SEC regarding the jurisdiction of their products.

Case details

The SEC accused Ripple and its current and former chief executives of conducting an unregistered securities offering worth $1.3 billion by selling XRP, which was created in 2012. The cryptocurrency industry has closely watched the case, which disputes the SEC's claim that most crypto tokens are securities subject to strict investor protection rules.

Judge Torres ruled that Ripple's sales of XRP on public cryptocurrency exchanges did not qualify as offers of securities under the law, as purchasers did not have a reasonable expectation of profit tied to Ripple's efforts. She referred to the sales as 'blind bid/ask transactions,' where buyers were unaware if their payments went to Ripple or other sellers of XRP.

Unregistered sales of securities

However, the judge also found that Ripple's sales of XRP to hedge funds and other sophisticated buyers, amounting to $728.9 million, constituted unregistered sales of securities. She stated that Ripple's marketing targeted institutional investors, promoting a speculative value proposition for XRP that relied on the company's efforts to develop the underlying blockchain infrastructure.

While the ruling is seen as a major victory for Ripple, the case involving Garlinghouse and Larsen aiding the company's violation of the law will proceed to trial. The defendants cannot argue at trial that they lacked 'fair notice' regarding XRP's classification as a cryptocurrency.

Surging crypto value since verdict

Coinbase, the largest U.S. cryptocurrency exchange, announced that it would resume trading of XRP on its platform in response to the court ruling. Coinbase's stock surged by 24 per cent and closed at $107 per share following the news on Thursday.

The ruling has prompted calls from the crypto industry for Congress to clarify the status of digital assets and establish clear rules for tokens. The outcome of the Ripple case has given optimism to market participants, boosting the shares of various cryptocurrency and blockchain-related companies such as Riot Platforms, Marathon Digital Holdings, Microstrategy, and Hut 8 Mining.

In the aftermath of the ruling, Bitcoin, the largest cryptocurrency, rose by 4.1 per cent to $31,584, while Ethereum, the second-largest cryptocurrency, increased by 6.43 per cent to $1,993.3.

(With Inputs from Reuters)

In a significant legal victory for Ripple Labs Inc, a U.S. judge ruled that the company did not violate federal securities law by selling its XRP token on public exchanges, Reuters reported.

In a significant legal victory for Ripple Labs Inc, a U.S. judge ruled that the company did not violate federal securities law by selling its XRP token on public exchanges, Reuters reported. The ruling by U.S. District Judge Analisa Torres marked the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission (SEC). However, the SEC did secure a partial victory as well. Following the announcement of the ruling, XRP experienced a surge in value, increasing by 75 per cent, according to Refinitiv Eikon data. The decision is specific to the facts of the case but is expected to provide ammunition for other crypto firms involved in similar battles with the SEC regarding the jurisdiction of their products. Case details The SEC accused Ripple and its current and former chief executives of conducting an unregistered securities offering worth $1.3 billion by selling XRP, which was created in 2012. The cryptocurrency industry has closely watched the case, which disputes the SEC's claim that most crypto tokens are securities subject to strict investor protection rules. Judge Torres ruled that Ripple's sales of XRP on public cryptocurrency exchanges did not qualify as offers of securities under the law, as purchasers did not have a reasonable expectation of profit tied to Ripple's efforts. She referred to the sales as 'blind bid/ask transactions,' where buyers were unaware if their payments went to Ripple or other sellers of XRP. Unregistered sales of securities However, the judge also found that Ripple's sales of XRP to hedge funds and other sophisticated buyers, amounting to $728.9 million, constituted unregistered sales of securities. She stated that Ripple's marketing targeted institutional investors, promoting a speculative value proposition for XRP that relied on the company's efforts to develop the underlying blockchain infrastructure. While the ruling is seen as a major victory for Ripple, the case involving Garlinghouse and Larsen aiding the company's violation of the law will proceed to trial. The defendants cannot argue at trial that they lacked 'fair notice' regarding XRP's classification as a cryptocurrency. Surging crypto value since verdict Coinbase, the largest U.S. cryptocurrency exchange, announced that it would resume trading of XRP on its platform in response to the court ruling. Coinbase's stock surged by 24 per cent and closed at $107 per share following the news on Thursday. The ruling has prompted calls from the crypto industry for Congress to clarify the status of digital assets and establish clear rules for tokens. The outcome of the Ripple case has given optimism to market participants, boosting the shares of various cryptocurrency and blockchain-related companies such as Riot Platforms, Marathon Digital Holdings, Microstrategy, and Hut 8 Mining. In the aftermath of the ruling, Bitcoin, the largest cryptocurrency, rose by 4.1 per cent to $31,584, while Ethereum, the second-largest cryptocurrency, increased by 6.43 per cent to $1,993.3. (With Inputs from Reuters)

Ripple 'Ripples' the market: Landmark legal win sends XRP soaring

United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord.&nbsp;Reportedly, the individuals ripped off about $114 million of unsuspecting followers by purporting to be successful traders on the social media platforms.

As per an AFP report, prosecutors in the Southern District of Texas said that the accused were engaged in a so-called "pump and dump" scheme in which they would hype particular stocks to their followers with the intent of dumping them once prices jump.

The US Securities and Exchange Commission (SEC), as per Reuters report, said that it has filed civil charges against the defendants, claiming that seven of them used Discord and Twitter to boost stocks. The eighth&nbsp;one has been charged with aiding and abetting the scheme via a podcast he ran.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/us-federal-reserve-raises-interest-rate-for-7th-time-this-year-heres-what-it-means-543234">US Federal Reserve raises interest rate for 7th time this year: Here’s what it means</a>

Investigators said that the influencers mainly focused on penny stocks.

As per Forbes, penny stocks "are shares of publicly-listed companies that have a very low price value" that generally trade at really low prices of a dollar or less. Most of these shares were in companies with a market capitalisation of less than $100 million.

Mitchell Hennessey of Hoboken, New Jersey, Texas residents Edward Constantinescu, Perry Matlock, John Rybarczyk and Dan Knight, along with California residents Gary Deel and Tom Cooperman, Stefan Hrvatin of Miami have&nbsp;been named as the defendants.

Also read |&nbsp;<a href="https://www.wionews.com/world/twitter-has-stopped-paying-office-rent-considers-not-paying-severance-to-employees-fired-report-543010">Twitter has stopped paying office rent, considers not paying severance to fired employees: Report</a>

Of these Matlock has pleaded not guilty.

Assistant Attorney General Kenneth Polite of the Justice Department's Criminal Division said that "Securities fraud victimises innocent investors and undermines the integrity of our public markets."

(With inputs from agencies)

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United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord.

United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord. Reportedly, the individuals ripped off about $114 million of unsuspecting followers by purporting to be successful traders on the social media platforms. As per an AFP report, prosecutors in the Southern District of Texas said that the accused were engaged in a so-called "pump and dump" scheme in which they would hype particular stocks to their followers with the intent of dumping them once prices jump. The US Securities and Exchange Commission (SEC), as per Reuters report, said that it has filed civil charges against the defendants, claiming that seven of them used Discord and Twitter to boost stocks. The eighth one has been charged with aiding and abetting the scheme via a podcast he ran. Also read | US Federal Reserve raises interest rate for 7th time this year: Here’s what it means Investigators said that the influencers mainly focused on penny stocks. As per Forbes, penny stocks "are shares of publicly-listed companies that have a very low price value" that generally trade at really low prices of a dollar or less. Most of these shares were in companies with a market capitalisation of less than $100 million. Mitchell Hennessey of Hoboken, New Jersey, Texas residents Edward Constantinescu, Perry Matlock, John Rybarczyk and Dan Knight, along with California residents Gary Deel and Tom Cooperman, Stefan Hrvatin of Miami have been named as the defendants. Also read | Twitter has stopped paying office rent, considers not paying severance to fired employees: Report Of these Matlock has pleaded not guilty. Assistant Attorney General Kenneth Polite of the Justice Department's Criminal Division said that "Securities fraud victimises innocent investors and undermines the integrity of our public markets." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US: 8 social media influencers posing as fin experts rip off $114mn from unsuspecting users; booked

In a regulatory filing on Monday, Tesla announced that it has increased its capital spending plan by $1 billion. Up from its previous expenditure plan of $5 billion-$7 billion, the company now expects to spend between $6 billion and $8 billion this year and each of the next two years as it looks to ramp up production at its new facilities in Berlin and Texas.

Following the subpoena by the US Securities and Exchange Commission (SEC), the electric automaker has disclosed details related to Chief Executive Elon Musk's go-private tweets in 2018.

While Tesla is struggling to raise output due to a shortage of batteries and China port issues, Musk had last month said the factories are "losing billions of dollars".

Also read |&nbsp;<a href="https://www.wionews.com/trending/musk-linked-to-google-co-founder-sergey-brins-wife-who-is-nicole-shanahan-500459" hreflang="en">Musk linked to Google co-founder Sergey Brin's wife: Who is Nicole Shanahan?</a>

By agreeing to let the company's lawyers pre-approve tweets with material information about the company, Musk had settled a lawsuit by the SEC over his go-private tweets.

Likening himself to rapper Eminem in seeking to throw out his 2018 agreement with the SEC, Musk said his "funding secured" tweet was truthful and appealed a judge's refusal to end the agreement.

After dropping his $44-billion offer to buy the social media company, Musk is preparing for a legal showdown in October with Twitter.

Due to concerns over the number of fake users and spam accounts, the regulator had questioned Musk over a tweet in which he raised doubts over his acquisition of Twitter.

Gaining $64 million in the process, Tesla's filing said it converted about 75 per cent of its bitcoin holdings into fiat currency.

While recording an impairment charge of $170 million in the first six months of 2022, the fair market value of its digital assets was worth $222 million. 
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(With inputs from agencies)

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In a regulatory filing on Monday, Tesla announced that it has increased its capital spending plan by $1 billion. Up from its previous expenditure plan of $5 billion-$7 billion, the company now expects to spend between $6 billion and $8 billion this year and each of the next two years as it looks to ramp up production at its new facilities in Berlin and Texas.

In a regulatory filing on Monday, Tesla announced that it has increased its capital spending plan by $1 billion. Up from its previous expenditure plan of $5 billion-$7 billion, the company now expects to spend between $6 billion and $8 billion this year and each of the next two years as it looks to ramp up production at its new facilities in Berlin and Texas. Following the subpoena by the US Securities and Exchange Commission (SEC), the electric automaker has disclosed details related to Chief Executive Elon Musk's go-private tweets in 2018. While Tesla is struggling to raise output due to a shortage of batteries and China port issues, Musk had last month said the factories are "losing billions of dollars". Also read | Musk linked to Google co-founder Sergey Brin's wife: Who is Nicole Shanahan? By agreeing to let the company's lawyers pre-approve tweets with material information about the company, Musk had settled a lawsuit by the SEC over his go-private tweets. Likening himself to rapper Eminem in seeking to throw out his 2018 agreement with the SEC, Musk said his "funding secured" tweet was truthful and appealed a judge's refusal to end the agreement. After dropping his $44-billion offer to buy the social media company, Musk is preparing for a legal showdown in October with Twitter. Due to concerns over the number of fake users and spam accounts, the regulator had questioned Musk over a tweet in which he raised doubts over his acquisition of Twitter. Gaining $64 million in the process, Tesla's filing said it converted about 75 per cent of its bitcoin holdings into fiat currency. While recording an impairment charge of $170 million in the first six months of 2022, the fair market value of its digital assets was worth $222 million. (With inputs from agencies) Watch WION's live TV here: ×

Elon Musk's Tesla increases its capital spending plan by $1 billion

The Wall Street Journal reported that the US Securities and Exchange Commission is investigating Goldman Sachs Group Inc's asset-management division.

Citing people familiar with the matter, Wall Street Journal report asset-management division is being probed over its funds that look to invest based on environmental, social, and governance (ESG) standards.

Goldman Sachs, which manages at least four funds that have clean-energy or ESG in their names, is an American multinational investment bank and financial services company headquartered in New York City.

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The investigation comes after the SEC proposed a pair of rule changes aimed at stamping out unfounded claims by funds on their ESG credentials.

Goldman sustained a big drop in revenues from asset management and equity and debt underwriting, offset by strong activity in some trading divisions amid market volatility.

According to the company's Chief Executive David Solomon, the results also included a $300 million hit from Russia.

Solomon described Goldman's exposure to the conflict as "relatively limited," saying the bank has been focused on reducing exposure.

Goldman's reputation was marred when a New York jury convicted its former managing director Roger Ng guilty for his role in propagating a massive bribery and money laundering scheme involving a state-owned Malaysian investment fund.

(With inputs from agencies)

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The Wall Street Journal reported that the US Securities and Exchange Commission is investigating Goldman Sachs Group Inc's asset-management division. Citing people familiar with the matter, Wall Street Journal report asset-management division is being probed over its funds that look to invest based on environmental, social, and governance (ESG) standards.

The Wall Street Journal reported that the US Securities and Exchange Commission is investigating Goldman Sachs Group Inc's asset-management division. Citing people familiar with the matter, Wall Street Journal report asset-management division is being probed over its funds that look to invest based on environmental, social, and governance (ESG) standards. Goldman Sachs, which manages at least four funds that have clean-energy or ESG in their names, is an American multinational investment bank and financial services company headquartered in New York City. The investigation comes after the SEC proposed a pair of rule changes aimed at stamping out unfounded claims by funds on their ESG credentials. Goldman sustained a big drop in revenues from asset management and equity and debt underwriting, offset by strong activity in some trading divisions amid market volatility. According to the company's Chief Executive David Solomon, the results also included a $300 million hit from Russia. Solomon described Goldman's exposure to the conflict as "relatively limited," saying the bank has been focused on reducing exposure. Goldman's reputation was marred when a New York jury convicted its former managing director Roger Ng guilty for his role in propagating a massive bribery and money laundering scheme involving a state-owned Malaysian investment fund. (With inputs from agencies) WATCH WION LIVE HERE

Report says US SEC is investigating Goldman Sachs Group Inc's asset-management division

Elon musk has done it again! The eccentric tech billionaire has shared yet another tweet aimed at further riling up the Twitter controversy.

Taking a swipe at the Twitter board of directors, Musk on Monday made a pretty bold statement about board member salaries. This comes after the social media giant decided to adopt a “poison pill” approach to deal with Musk’s hostile takeover bid of $43 billion.

Also read |&nbsp;<a href="https://www.wionews.com/photos/wion-explains-the-elon-musk-controversy-and-the-current-top-shareholders-of-twitter-471576">WION explains: The Elon Musk controversy and the current top shareholders of Twitter</a>

A Twitter user while talking about Musk’s bid had posted a document along with the text: “Let me point out something obvious: If @elonmusk takes $TWTR private, the TWTR board members don’t have jobs any more, which pays them $250K-$300K per year for what is a nice part-time job. &nbsp;That could explain a lot.”

Responding to the user’s criticism of the board Tesla's CEO tweeted: "Board salary will be $0 if my bid succeeds, so that's ~$3M/year saved right there."&nbsp;

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Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1516056299376623626?ref_src=twsrc%5Etfw">April 18, 2022</a></blockquote>
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Musk, a self-described "free speech absolutist" who has continuously criticised Twitter's policies, made no further remarks. Twitter is yet to issue a statement in reply.&nbsp;

Watch |&nbsp;'Their salary will be $0, if my bid succeeds,' Elon Musk takes a sly dig at Twitter board

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The whole Musk-Twitter saga started with the eccentric billionaire purchasing 9.2 per cent stock in the micro-blogging website. This move at that time made him Twitter’s biggest shareholder, a position that was short-lived. Now, the Vanguard group holds that position with a 10.3 per cent stake.

On Thursday, continuing his tirade against the company Musk launched a poll asking his millions of followers if "taking Twitter private at $54.20 should be up to shareholders, not the board", to which a huge majority responded "Yes".

After Twitter launched the 'poison pill' protocol, a plan to sell shares at a discount to prevent shareholders from amassing a stake of more than 15 per cent, Tesla CEO Elon Musk also tweeted "Love Me Tender," an Elvis Presley song.

Meanwhile, Twitter co-founder and former CEO Jack Dorsey chastised the company's board in a series of tweet replies on Saturday, saying &nbsp;"it's consistently been the dysfunction of the company."

(With inputs from agencies)

Elon musk has done it again! The eccentric tech billionaire has shared yet another tweet aimed at further riling up the Twitter controversy. Taking a swipe at the Twitter board of directors, Musk on Monday made a pretty bold statement about board member salaries.

Elon musk has done it again! The eccentric tech billionaire has shared yet another tweet aimed at further riling up the Twitter controversy. Taking a swipe at the Twitter board of directors, Musk on Monday made a pretty bold statement about board member salaries. This comes after the social media giant decided to adopt a “poison pill” approach to deal with Musk’s hostile takeover bid of $43 billion. Also read | WION explains: The Elon Musk controversy and the current top shareholders of Twitter A Twitter user while talking about Musk’s bid had posted a document along with the text: “Let me point out something obvious: If @elonmusk takes $TWTR private, the TWTR board members don’t have jobs any more, which pays them $250K-$300K per year for what is a nice part-time job. That could explain a lot.” Responding to the user’s criticism of the board Tesla's CEO tweeted: "Board salary will be $0 if my bid succeeds, so that's ~$3M/year saved right there." Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there — Elon Musk (@elonmusk) April 18, 2022 × Musk, a self-described "free speech absolutist" who has continuously criticised Twitter's policies, made no further remarks. Twitter is yet to issue a statement in reply. Watch | 'Their salary will be $0, if my bid succeeds,' Elon Musk takes a sly dig at Twitter board The whole Musk-Twitter saga started with the eccentric billionaire purchasing 9.2 per cent stock in the micro-blogging website. This move at that time made him Twitter’s biggest shareholder, a position that was short-lived. Now, the Vanguard group holds that position with a 10.3 per cent stake. On Thursday, continuing his tirade against the company Musk launched a poll asking his millions of followers if "taking Twitter private at $54.20 should be up to shareholders, not the board", to which a huge majority responded "Yes". After Twitter launched the 'poison pill' protocol, a plan to sell shares at a discount to prevent shareholders from amassing a stake of more than 15 per cent, Tesla CEO Elon Musk also tweeted "Love Me Tender," an Elvis Presley song. Meanwhile, Twitter co-founder and former CEO Jack Dorsey chastised the company's board in a series of tweet replies on Saturday, saying "it's consistently been the dysfunction of the company." (With inputs from agencies)

Stung by the 'poison' pill, Elon Musk takes a dig at Twitter board's salaries

Mercurial billionaire Elon Musk is an enigmatic man. Continuing his trend of posting cryptic tweets, he has tweeted the title of a song by Elvis Presley.

''Love me tender,'' the Tesla CEO said in a tweet.

His tweet comes after his offer to buy Twitter worth $43 billion was rejected by the social media giant.

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🎶 Love Me Tender 🎶
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1515405264740134918?ref_src=twsrc%5Etfw">April 16, 2022</a></blockquote>
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However, it seems Musk has not lost hope and he is still optimistic about acquiring the tech titan.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/board-members-own-almost-no-shares-elon-musk-takes-a-dig-at-twitter-471577/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"It would be utterly indefensible not to put this offer to a shareholder vote," Musk said in another tweet.

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🤔 <a href="https://t.co/PfqYpLiuVd">pic.twitter.com/PfqYpLiuVd</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514726980909948928?ref_src=twsrc%5Etfw">April 14, 2022</a></blockquote>
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Experts believe that Musk can bypass Twitter's board by putting forward another hostile bid directly to its shareholders.&nbsp;

Musk, who is the co-founder of SpaceX and is leading Neuralink as well as 'The Boring Company', is one of the most-followed people on Twitter.

He has a following of 82 million rivaling pop stars such as Lady Gaga and Ariana Grande.

Also see |&nbsp;<a href="https://www.wionews.com/photos/wion-explains-the-elon-musk-controversy-and-the-current-top-shareholders-of-twitter-471576" hreflang="en">WION explains: The Elon Musk controversy and the current top shareholders of Twitter</a>

''Taking Twitter private at $54.20 should be up to shareholders, not the board,'' Musk said in another tweet.

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Taking Twitter private at $54.20 should be up to shareholders, not the board
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514698036760530945?ref_src=twsrc%5Etfw">April 14, 2022</a></blockquote>
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In response, Twitter spokesperson Adrian Zamora said, “Our policy decisions are not determined by the board or shareholders, and we have no plans to reverse any policy decisions.”

Musk describes himself as a “free speech absolutist.” He has criticised Twitter for not living up to its free speech principles.

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Will endeavor to keep as many shareholders in privatized Twitter as allowed by law
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1514681422212128770?ref_src=twsrc%5Etfw">April 14, 2022</a></blockquote>
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The 50-year-old called “crypto spam bots” the “most annoying problem on Twitter.” They search tweets for cryptocurrency related keywords then pose as customer support to empty user crypto wallets.

Musk, who is the world's richest man with a net worth pegged by Forbes at $265 billion, asked ''Is Twitter dying?'' in a post.

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Most of these “top” accounts tweet rarely and post very little content. 
 
Is Twitter dying? <a href="https://t.co/lj9rRXfDHE">https://t.co/lj9rRXfDHE</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1512785529712123906?ref_src=twsrc%5Etfw">April 9, 2022</a></blockquote>
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Musk had faced legal trouble for "false and misleading" about taking Tesla private in 2018.

The US Securities and Exchange Commission had found him guilty of ''recklessly making the statements with knowledge as to their falsity.'' As a result, he had to pay a massive fine of $40 million.

(With inputs from agencies)

Mercurial billionaire Elon Musk is an enigmatic man. Continuing his trend of posting cryptic tweets, he has tweeted the title of a song by Elvis Presley. ''Love me tender,'' the Tesla CEO said in a tweet.

Mercurial billionaire Elon Musk is an enigmatic man. Continuing his trend of posting cryptic tweets, he has tweeted the title of a song by Elvis Presley. ''Love me tender,'' the Tesla CEO said in a tweet. His tweet comes after his offer to buy Twitter worth $43 billion was rejected by the social media giant. 🎶 Love Me Tender 🎶 — Elon Musk (@elonmusk) April 16, 2022 × However, it seems Musk has not lost hope and he is still optimistic about acquiring the tech titan. "It would be utterly indefensible not to put this offer to a shareholder vote," Musk said in another tweet. 🤔 pic.twitter.com/PfqYpLiuVd — Elon Musk (@elonmusk) April 14, 2022 × Experts believe that Musk can bypass Twitter's board by putting forward another hostile bid directly to its shareholders. Musk, who is the co-founder of SpaceX and is leading Neuralink as well as 'The Boring Company', is one of the most-followed people on Twitter. He has a following of 82 million rivaling pop stars such as Lady Gaga and Ariana Grande. Also see | WION explains: The Elon Musk controversy and the current top shareholders of Twitter ''Taking Twitter private at $54.20 should be up to shareholders, not the board,'' Musk said in another tweet. Taking Twitter private at $54.20 should be up to shareholders, not the board — Elon Musk (@elonmusk) April 14, 2022 × In response, Twitter spokesperson Adrian Zamora said, “Our policy decisions are not determined by the board or shareholders, and we have no plans to reverse any policy decisions.” Musk describes himself as a “free speech absolutist.” He has criticised Twitter for not living up to its free speech principles. Will endeavor to keep as many shareholders in privatized Twitter as allowed by law — Elon Musk (@elonmusk) April 14, 2022 × The 50-year-old called “crypto spam bots” the “most annoying problem on Twitter.” They search tweets for cryptocurrency related keywords then pose as customer support to empty user crypto wallets. Musk, who is the world's richest man with a net worth pegged by Forbes at $265 billion, asked ''Is Twitter dying?'' in a post. Most of these “top” accounts tweet rarely and post very little content. Is Twitter dying? https://t.co/lj9rRXfDHE — Elon Musk (@elonmusk) April 9, 2022 × Musk had faced legal trouble for "false and misleading" about taking Tesla private in 2018. The US Securities and Exchange Commission had found him guilty of ''recklessly making the statements with knowledge as to their falsity.'' As a result, he had to pay a massive fine of $40 million. (With inputs from agencies)

'Love me tender': Cryptic tweets continue to pour in from Elon Musk after Twitter bid row

Tesla CEO Elon Musk has been sued for his ''flagrantly'' ignorant tweets by investing giant JPMorgan.

The company has alleged that Musk is clearly ignoring his contractual obligation to pay for its stock warrants contract that expired in July and are worth $162 million.

Following announcements of significant corporate transactions involving Tesla, JPMorgan Chase &amp; Co alleges that Musk re-priced its warrants. It is unusual for a major Wall Street bank to sue such a high-profile client.

<a href="https://www.wionews.com/world/elon-musk-asks-people-to-use-signal-app-instead-of-whatsapp-and-facebook-over-privacy-issues-355704">Also read |&nbsp;Elon Musk asks people to use Signal app instead of WhatsApp and Facebook over privacy issues</a>

Stock warrants give the holder the right to buy shares at a set price within a certain time period, enabling the holder to profit if the stock rises beyond the specified price.

In 2018, Musk had tweeted ''Am considering taking Tesla private at $420. Funding secured.''

However, he had abandoned his plan 17 days after posting the tweet. This created significant volatility in the share price. Later on Tesla backtracked and said it had no intention of going private.

<a href="https://www.wionews.com/world/i-keep-forgetting-youre-still-alive-elon-musk-takes-a-dig-at-bernie-sanders-offers-to-sell-more-stock-429392">Also read |&nbsp;'I keep forgetting you're still alive': Elon Musk takes a dig at Bernie Sanders, offers to sell more stock</a>

In the same year, Musk was required to step down as chairman under a settlement with the US Securities and Exchange Commission.

He was asked to pay $20 million to settle charges as he defrauded investors with false claims on Twitter about the possible go-private transaction that was quickly aborted.

According to JPMorgan, Tesla complained in 2019 that the bank's adjustments were "an opportunistic attempt to take advantage of changes in volatility in Tesla's stock," but did not challenge the underlying calculations.

(With inputs from agencies)

Tesla CEO Elon Musk has been sued for his ''flagrantly'' ignorant tweets by investing giant JPMorgan. The company has alleged that Musk is clearly ignoring his contractual obligation to pay for its stock warrants contract that expired in July and are worth $162 million.

Tesla CEO Elon Musk has been sued for his ''flagrantly'' ignorant tweets by investing giant JPMorgan. The company has alleged that Musk is clearly ignoring his contractual obligation to pay for its stock warrants contract that expired in July and are worth $162 million. Following announcements of significant corporate transactions involving Tesla, JPMorgan Chase & Co alleges that Musk re-priced its warrants. It is unusual for a major Wall Street bank to sue such a high-profile client. Also read | Elon Musk asks people to use Signal app instead of WhatsApp and Facebook over privacy issues Stock warrants give the holder the right to buy shares at a set price within a certain time period, enabling the holder to profit if the stock rises beyond the specified price. In 2018, Musk had tweeted ''Am considering taking Tesla private at $420. Funding secured.'' However, he had abandoned his plan 17 days after posting the tweet. This created significant volatility in the share price. Later on Tesla backtracked and said it had no intention of going private. Also read | 'I keep forgetting you're still alive': Elon Musk takes a dig at Bernie Sanders, offers to sell more stock In the same year, Musk was required to step down as chairman under a settlement with the US Securities and Exchange Commission. He was asked to pay $20 million to settle charges as he defrauded investors with false claims on Twitter about the possible go-private transaction that was quickly aborted. According to JPMorgan, Tesla complained in 2019 that the bank's adjustments were "an opportunistic attempt to take advantage of changes in volatility in Tesla's stock," but did not challenge the underlying calculations. (With inputs from agencies)

JP Morgan sues Tesla CEO Elon Musk for his 'flagrantly' ignorant tweets

<a href="https://www.wionews.com/world/us-sec-probes-siemens-ge-philips-in-alleged-china-medical-equipment-scheme-report-224228">US SEC probes Siemens, GE, Philips in alleged China medical equipment scheme: Report</a>

The US Securities and Exchange Commission is investigating Siemens AG, Philips NV and General Electric Co for allegedly using local middlemen to negotiate bribes with the Chinese government and hospital officials to sell medical equipment, two US sources with knowledge of the matter told Reuters.

<a href="https://www.wionews.com/world/donald-trump-promises-uk-pm-theresa-may-very-substantial-trade-deal-after-brexit-224218">Donald Trump promises UK PM Theresa May 'very substantial' trade deal after Brexit</a>

US President Donald Trump touted a "very, very substantial trade deal" between the United States and Britain after Brexit as he met Prime Minister Theresa May on Tuesday for fraught talks held amid street protests.

<a href="https://www.wionews.com/sports/people-expect-century-but-my-focus-is-on-victory-says-virat-kohli-ahead-of-south-africa-clash-224280">People expect century but my focus is on victory, says Virat Kohli ahead of South Africa clash</a>

Indian cricket captain Virat Kohli addressed a press conference a day before team's first match against South Africa on Wednesday at Southampton's Rose Bowl stadium.&nbsp;

Virat answered several questions asked by the reporters regarding Team India's planning for the World Cup tournament.&nbsp;

<a href="https://www.wionews.com/india-news/amit-shah-holds-meetings-on-jammu-and-kashmir-delimitation-discussed-224193">Amit Shah holds meetings on Jammu and Kashmir, delimitation discussed</a>

Amit Shah has hit the ground running in the very first week of taking over as India’s Home Minister. He has held a slew of review meetings, mostly on internal security and the situation in Jammu and Kashmir.

<a href="https://www.wionews.com/india-news/satellites-spy-planes-roped-in-to-locate-indian-air-forces-missing-an-32-aircraft-224202">Satellites, spy planes roped in to locate Indian Air Force's missing AN-32 aircraft</a>

ISRO satellites and Naval P-8I spy planes have been pressed into service to locate the wreckage of the missing AN-32 aircraft which went missing Monday afternoon with 13 IAF personnel on board.

US SEC probes Siemens, GE, Philips in alleged China medical equipment scheme: Report The US Securities and Exchange Commission is investigating Siemens AG, Philips NV and General Electric Co for allegedly using local middlemen to negotiate bribes with the Chinese government and hospital officials to sell medical equipment, two US sources with knowledge of the matter told Reuters.

US SEC probes Siemens, GE, Philips in alleged China medical equipment scheme: Report The US Securities and Exchange Commission is investigating Siemens AG, Philips NV and General Electric Co for allegedly using local middlemen to negotiate bribes with the Chinese government and hospital officials to sell medical equipment, two US sources with knowledge of the matter told Reuters. Donald Trump promises UK PM Theresa May 'very substantial' trade deal after Brexit US President Donald Trump touted a "very, very substantial trade deal" between the United States and Britain after Brexit as he met Prime Minister Theresa May on Tuesday for fraught talks held amid street protests. People expect century but my focus is on victory, says Virat Kohli ahead of South Africa clash Indian cricket captain Virat Kohli addressed a press conference a day before team's first match against South Africa on Wednesday at Southampton's Rose Bowl stadium. Virat answered several questions asked by the reporters regarding Team India's planning for the World Cup tournament. Amit Shah holds meetings on Jammu and Kashmir, delimitation discussed Amit Shah has hit the ground running in the very first week of taking over as India’s Home Minister. He has held a slew of review meetings, mostly on internal security and the situation in Jammu and Kashmir. Satellites, spy planes roped in to locate Indian Air Force's missing AN-32 aircraft ISRO satellites and Naval P-8I spy planes have been pressed into service to locate the wreckage of the missing AN-32 aircraft which went missing Monday afternoon with 13 IAF personnel on board.

News brief: Big stories of the day

<a href="https://www.wionews.com/business-economy/amazon-offers-employees-10000-to-quit-launch-delivery-business-218463">Amazon&nbsp;</a>said&nbsp;shareholders&nbsp;rejected proposals to curb and audit its&nbsp;facial&nbsp;recognition&nbsp;service on Wednesday, just as members of&nbsp;Congress&nbsp;indicated there was bipartisan support to one day regulate the technology.

In the past year, Amazon&nbsp;has found itself at the centre of a growing debate over the use of&nbsp;facial&nbsp;recognition&nbsp;by governments, with critics warning of false matches and arrests and proponents arguing it keeps the public safe. Law enforcement in Oregon and Florida have used&nbsp;Amazon's face and image ID service, known as Rekognition.

With support from civil liberties groups, two non-binding proposals on&nbsp;facial&nbsp;recognition&nbsp;made it to the ballot ahead of&nbsp;Amazon's shareholder meeting on Wednesday. The world's top online retailer and cloud computing company had tried to stop the votes, but it was effectively overruled by the&nbsp;US Securities and Exchange Commission.

The first proposal would have made the company stop offering&nbsp;facial&nbsp;recognition&nbsp;to governments unless its board determined sales did not violate civil liberties. A second would have requested a study by September of the extent to which&nbsp;Amazon's service harmed rights and privacy.

According to an&nbsp;Amazon&nbsp;spokeswoman, the resolutions failed by a wide margin. The vote breakdown will be disclosed at a later point in time.

Adding to&nbsp;shareholders'&nbsp;concerns was recent research that showed&nbsp;Amazon's technology struggled to identify the gender of individuals with darker skin, prompting fears that a faulty technology would put innocent people behind bars.

Amazon&nbsp;has defended its work and said all users must follow the law. It also added a web portal for people to report any abuse of the service.

The proposals faced an uphill battle.&nbsp;Amazon's board recommended against them, and Jeff Bezos, the company's chief executive and founder, controls 16 per cent of it's stock and voting rights.

Still, critics of the technology believed the vote was beneficial.

"This shareholder intervention should serve as a wake-up call for the company to reckon with the real harms of face surveillance and to change course," said Shankar Narayan of the American Civil Liberties Union of Washington state.

A key&nbsp;congressional committee also met on Wednesday in Washington, DC, to discuss&nbsp;the civil rights impact of all&nbsp;facial recognition technology, not only&nbsp;Amazon's.

Responding to the shareholder vote, Democratic&nbsp;US Representative Jimmy Gomez said, "that just means that it's more important that Congress&nbsp;acts."

Republican members of the committee expressed&nbsp;concern&nbsp;about&nbsp;US&nbsp;citizens having their rights violated and their information shared with the likes of the FBI without elected officials' oversight. A second hearing on the topic is scheduled for June 4.

Any federal regulation would follow a major decision by San Francisco officials earlier this month to&nbsp;ban&nbsp;city personnel from using the technology. That contrasts with New York, Chicago and Detroit, where law enforcement has reportedly used&nbsp;facial&nbsp;recognition&nbsp;or acquired it with the hope of speeding up post-crime investigations.

Amazon&nbsp;is one of many&nbsp;facial&nbsp;recognition&nbsp;vendors, alongside France's Idema, Japan's NEC Corp and Microsoft Corp, which has repeatedly called for regulation and said&nbsp;it turned down sales for human rights&nbsp;concerns.

Mark Meadows, a Republican, said it was time to start legislating.

"You've now hit the sweet spot that brings progressives and conservatives together," he said.

Amazon said shareholders rejected proposals to curb and audit its facial recognition service on Wednesday, just as members of Congress indicated there was bipartisan support to one day regulate the technology.

Amazon said shareholders rejected proposals to curb and audit its facial recognition service on Wednesday, just as members of Congress indicated there was bipartisan support to one day regulate the technology. In the past year, Amazon has found itself at the centre of a growing debate over the use of facial recognition by governments, with critics warning of false matches and arrests and proponents arguing it keeps the public safe. Law enforcement in Oregon and Florida have used Amazon's face and image ID service, known as Rekognition. With support from civil liberties groups, two non-binding proposals on facial recognition made it to the ballot ahead of Amazon's shareholder meeting on Wednesday. The world's top online retailer and cloud computing company had tried to stop the votes, but it was effectively overruled by the US Securities and Exchange Commission. The first proposal would have made the company stop offering facial recognition to governments unless its board determined sales did not violate civil liberties. A second would have requested a study by September of the extent to which Amazon's service harmed rights and privacy. According to an Amazon spokeswoman, the resolutions failed by a wide margin. The vote breakdown will be disclosed at a later point in time. Adding to shareholders' concerns was recent research that showed Amazon's technology struggled to identify the gender of individuals with darker skin, prompting fears that a faulty technology would put innocent people behind bars. Amazon has defended its work and said all users must follow the law. It also added a web portal for people to report any abuse of the service. The proposals faced an uphill battle. Amazon's board recommended against them, and Jeff Bezos, the company's chief executive and founder, controls 16 per cent of it's stock and voting rights. Still, critics of the technology believed the vote was beneficial. "This shareholder intervention should serve as a wake-up call for the company to reckon with the real harms of face surveillance and to change course," said Shankar Narayan of the American Civil Liberties Union of Washington state. A key congressional committee also met on Wednesday in Washington, DC, to discuss the civil rights impact of all facial recognition technology, not only Amazon's. Responding to the shareholder vote, Democratic US Representative Jimmy Gomez said, "that just means that it's more important that Congress acts." Republican members of the committee expressed concern about US citizens having their rights violated and their information shared with the likes of the FBI without elected officials' oversight. A second hearing on the topic is scheduled for June 4. Any federal regulation would follow a major decision by San Francisco officials earlier this month to ban city personnel from using the technology. That contrasts with New York, Chicago and Detroit, where law enforcement has reportedly used facial recognition or acquired it with the hope of speeding up post-crime investigations. Amazon is one of many facial recognition vendors, alongside France's Idema, Japan's NEC Corp and Microsoft Corp, which has repeatedly called for regulation and said it turned down sales for human rights concerns. Mark Meadows, a Republican, said it was time to start legislating. "You've now hit the sweet spot that brings progressives and conservatives together," he said.

Amazon shareholders reject facial recognition ban as concern grows in US Congress

<a href="https://www.google.com/url?q=https://www.wionews.com/world/opinion-bitcoin-is-interesting-but-not-worth-investing-27266&amp;sa=U&amp;ved=0ahUKEwjOrcbUurjhAhX17XMBHb11CrMQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2mOO1bFnborPY9BfGg2sb6">Bitcoin</a>'s trading volume dropped to a two-year low in March, digital currency trading tool provider TradeBlock said in a report on Thursday, as investors remained spooked by increased regulatory scrutiny.

Bitcoin volume in the top five digital currency exchanges totalled $2.14 billion last month, the lowest since April 2017 when the volume was just $845.7 million.

The original <a href="https://www.google.com/url?q=https://www.wionews.com/world/bitcoin-crashes-over-10-per-cent-on-bitstamp-27226&amp;sa=U&amp;ved=0ahUKEwjOrcbUurjhAhX17XMBHb11CrMQFggQMAQ&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw1h4jzr1AO_DIQY_pRSorH9">cryptocurrency</a>, bitcoin has dropped more than 70 per cent since hitting an all-time high of nearly $20,000 in December 2017, a slump that has spread to all digital currencies.

A global regulatory crackdown led by the <a href="https://www.google.com/url?q=https://www.wionews.com/world/the-bitcoin-bubble-how-we-know-it-will-burst-26216&amp;sa=U&amp;ved=0ahUKEwjOrcbUurjhAhX17XMBHb11CrMQFggTMAU&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw2olCDFuIwYQNKiEL5MOftR">US Securities and Exchange Commission</a> has created concerns about greater oversight and acceptance of digital currencies as payments, taking the wind out of the once red-hot virtual assets.

Early this week, however, bitcoin recovered somewhat to hit a roughly five-month high of $5,345 on the <a href="https://www.google.com/url?q=https://www.wionews.com/world/opinion-bitcoin-is-a-highly-speculative-investment-why-caution-is-required-26092&amp;sa=U&amp;ved=0ahUKEwjOrcbUurjhAhX17XMBHb11CrMQFggZMAc&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0m0lVK40Nce89zqY8Pa0_c">Bitstamp platform</a>, after a major order by an anonymous buyer set off a frenzy of computer-driven trading, analysts said.

TradeBlock said in its research that as bitcoin trading volumes fell, digital asset exchanges started increasing the number of assets listed. It cited Coinbase, which has historically listed fewer assets than its peers, taking on two new currencies - Ripple and Stellar Lumens - over the last few months.

Coinbase's trading volume for March was $1.6 billion, a two-year low as well, TradeBlock data showed.

TradeBlock's research also showed that as volumes declined, digital currency exchanges began raising trading fees in 2018 and 2019.

"An increase in trading fees is in line with expectations that exchanges are looking to protect revenues, amidst continually dampened trading volumes," TradeBlock said. 
&nbsp;

Bitcoin's trading volume dropped to a two-year low in March, digital currency trading tool provider TradeBlock said in a report on Thursday, as investors remained spooked by increased regulatory scrutiny.

Bitcoin's trading volume dropped to a two-year low in March, digital currency trading tool provider TradeBlock said in a report on Thursday, as investors remained spooked by increased regulatory scrutiny. Bitcoin volume in the top five digital currency exchanges totalled $2.14 billion last month, the lowest since April 2017 when the volume was just $845.7 million. The original cryptocurrency, bitcoin has dropped more than 70 per cent since hitting an all-time high of nearly $20,000 in December 2017, a slump that has spread to all digital currencies. A global regulatory crackdown led by the US Securities and Exchange Commission has created concerns about greater oversight and acceptance of digital currencies as payments, taking the wind out of the once red-hot virtual assets. Early this week, however, bitcoin recovered somewhat to hit a roughly five-month high of $5,345 on the Bitstamp platform, after a major order by an anonymous buyer set off a frenzy of computer-driven trading, analysts said. TradeBlock said in its research that as bitcoin trading volumes fell, digital asset exchanges started increasing the number of assets listed. It cited Coinbase, which has historically listed fewer assets than its peers, taking on two new currencies - Ripple and Stellar Lumens - over the last few months. Coinbase's trading volume for March was $1.6 billion, a two-year low as well, TradeBlock data showed. TradeBlock's research also showed that as volumes declined, digital currency exchanges began raising trading fees in 2018 and 2019. "An increase in trading fees is in line with expectations that exchanges are looking to protect revenues, amidst continually dampened trading volumes," TradeBlock said.

Bitcoin trading volume hits two-year low in March

The US Securities and Exchange Commission on Monday said a federal court should hold <a href="http://www.wionews.com/world/now-musk-eyes-tunnel-through-australian-mountain-to-solve-traffic-woes-190839">Tesla Inc Chief Executive Officer Elon Musk </a>in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade.

Musk, Tesla and the SEC last year settled a lawsuit filed by the federal agency over misleading tweets Must make in August that he planned to take the company private. As part of that settlement, any material statements made by Musk on social media were to be vetted in advance by the company.

The regulator pointed to Musk's February 19 tweet: "Tesla made 0 cars in 2011, but will make around 500k in 2019," noting that Musk did not seek or receive preapproval before publishing this tweet, which was inaccurate and disseminated to over 24 million people.

"Musk has thus violated the court's final judgment by engaging in the very conduct that the pre-approval provision of the final judgment was designed to prevent," the SEC wrote in its motion filed on Monday in federal court in Manhattan.

Musk subsequently clarified his tweet to say that the "annualised production rate" at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000.

The motion asks the judge to issue an order that would put the onus on Musk to show why he should not be held in contempt for violating the settlement.

Tesla did not immediately respond to a request for comment.

Tesla and Musk agreed in September to pay $20 million each to the SEC, and the billionaire stepped down as the company's chairman but remained as chief executive. In the settlement, the agency pulled back from its original demand that Musk, who is synonymous with the Tesla brand, be barred from running Tesla, a sanction many investors said would be disastrous.

The settlement was approved by a US judge in October, who can now decide whether its terms have been violated.

In a response to the SEC's demand for information regarding the Feb. 19 tweet, a lawyer for Tesla and Musk said the CEO's tweet was meant to reiterate information already approved, then disseminated when the company released fourth-quarter earnings results in January.

Although the tweet was not pre-approved, the lawyer wrote, Musk believed its substance had been "appropriately vetted, pre-approved and publicly disseminated." Moreover, the lawyer said, the statement was made outside of market trading hours.

It was not immediately clear what the repercussions would be Musk to be found in contempt, as such a citation does not necessarily mean the original agreement is now null and void.

The SEC could seek a so-called bar order, removing him from Tesla’s board, or could ask for a lesser penalty, like a monetary fine, said Stephen Diamond, a professor of corporate governance at Santa Clara University.

The SEC could also ask the court to reopen the original settlement for renegotiation, he said, perhaps asking that the original charges be reinstated.

"It’s a pretty unusual situation," Diamond said, adding that "all bets are off."

The US Securities and Exchange Commission on Monday said a federal court should hold Tesla Inc Chief Executive Officer Elon Musk in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade.

The US Securities and Exchange Commission on Monday said a federal court should hold Tesla Inc Chief Executive Officer Elon Musk in contempt for violating last year's settlement with the federal regulatory agency due to new statements made on Twitter, sending shares of the electric carmaker down 5 per cent in extended trade. Musk, Tesla and the SEC last year settled a lawsuit filed by the federal agency over misleading tweets Must make in August that he planned to take the company private. As part of that settlement, any material statements made by Musk on social media were to be vetted in advance by the company. The regulator pointed to Musk's February 19 tweet: "Tesla made 0 cars in 2011, but will make around 500k in 2019," noting that Musk did not seek or receive preapproval before publishing this tweet, which was inaccurate and disseminated to over 24 million people. "Musk has thus violated the court's final judgment by engaging in the very conduct that the pre-approval provision of the final judgment was designed to prevent," the SEC wrote in its motion filed on Monday in federal court in Manhattan. Musk subsequently clarified his tweet to say that the "annualised production rate" at year-end 2019 would probably be about 500,000, with deliveries expected to be about 400,000. The motion asks the judge to issue an order that would put the onus on Musk to show why he should not be held in contempt for violating the settlement. Tesla did not immediately respond to a request for comment. Tesla and Musk agreed in September to pay $20 million each to the SEC, and the billionaire stepped down as the company's chairman but remained as chief executive. In the settlement, the agency pulled back from its original demand that Musk, who is synonymous with the Tesla brand, be barred from running Tesla, a sanction many investors said would be disastrous. The settlement was approved by a US judge in October, who can now decide whether its terms have been violated. In a response to the SEC's demand for information regarding the Feb. 19 tweet, a lawyer for Tesla and Musk said the CEO's tweet was meant to reiterate information already approved, then disseminated when the company released fourth-quarter earnings results in January. Although the tweet was not pre-approved, the lawyer wrote, Musk believed its substance had been "appropriately vetted, pre-approved and publicly disseminated." Moreover, the lawyer said, the statement was made outside of market trading hours. It was not immediately clear what the repercussions would be Musk to be found in contempt, as such a citation does not necessarily mean the original agreement is now null and void. The SEC could seek a so-called bar order, removing him from Tesla’s board, or could ask for a lesser penalty, like a monetary fine, said Stephen Diamond, a professor of corporate governance at Santa Clara University. The SEC could also ask the court to reopen the original settlement for renegotiation, he said, perhaps asking that the original charges be reinstated. "It’s a pretty unusual situation," Diamond said, adding that "all bets are off."

SEC asks US judge to hold Tesla's Musk in contempt of violating deal

Twitter co-founder and one-time chief executive Evan Williams is stepping down from the board, leaving the one-to-many messaging service to focus on "other projects."

Williams will depart the Twitter board at the end of this month, according to a filing with the US Securities and Exchange Commission on Friday.

"It's been an incredible 13 years, and I'm proud of what Twitter has accomplished during my time with the company," Williams said in the filing.

"I will continue rooting for the team as I focus my time on other projects."

Williams throttled back his role in the San Francisco-based startup eight years ago, turning his attention to new endeavors including creating popular online publishing platform Medium.

Williams ceded his role as Twitter chief executive to Dick Costolo in 2010. Co-founder Jack Dorsey returned as Twitter chief in 2015, having held the position when the startup was nascent.

Dorsey said in a Tweet that Williams was the reason he joined startup Odeo, an endeavour that led to him, Williams and Biz Stone creating Twitter.

"I appreciate you, Ev!" Dorsey tweeted on Friday.

"We're going to miss your voice in our board conversations."

Twitter has become a high-profile, and sometimes controversial, global stage for communication since it was launched in March of 2006.

"Thank you, @jack and @biz for starting this crazy company with me—and continuing to make it better and better," Williams tweeted.

"I'm going to ride off into the sunset (or...down Market Street), so I can focus on some other things."

Twitter co-founder and one-time chief executive Evan Williams is stepping down from the board, leaving the one-to-many messaging service to focus on "other projects.

Twitter co-founder and one-time chief executive Evan Williams is stepping down from the board, leaving the one-to-many messaging service to focus on "other projects." Williams will depart the Twitter board at the end of this month, according to a filing with the US Securities and Exchange Commission on Friday. "It's been an incredible 13 years, and I'm proud of what Twitter has accomplished during my time with the company," Williams said in the filing. "I will continue rooting for the team as I focus my time on other projects." Williams throttled back his role in the San Francisco-based startup eight years ago, turning his attention to new endeavors including creating popular online publishing platform Medium. Williams ceded his role as Twitter chief executive to Dick Costolo in 2010. Co-founder Jack Dorsey returned as Twitter chief in 2015, having held the position when the startup was nascent. Dorsey said in a Tweet that Williams was the reason he joined startup Odeo, an endeavour that led to him, Williams and Biz Stone creating Twitter. "I appreciate you, Ev!" Dorsey tweeted on Friday. "We're going to miss your voice in our board conversations." Twitter has become a high-profile, and sometimes controversial, global stage for communication since it was launched in March of 2006. "Thank you, @jack and @biz for starting this crazy company with me—and continuing to make it better and better," Williams tweeted. "I'm going to ride off into the sunset (or...down Market Street), so I can focus on some other things."

Twitter co-founder Evan Williams steps down from board

Tesla Inc Chief Executive Officer Elon Musk refused to pay a nominal fine and give up the role of chairman for two years as part of a settlement with the US Securities and Exchange Commission, CNBC reported on Friday, citing sources.

The settlement would also require Tesla to appoint two new independent directors, the report said.

Musk reportedly refused to sign the deal as he felt by settling he would not be truthful to himself and he wouldn't have been able to live with the idea that he agreed to accept a settlement and any blemish associated with that, the report said.

Tesla did not immediately respond to a request for comment.

"I'm not sure if they can settle with the SEC after turning down the opportunity, but you never know," Ivan Fienseth, an analyst with Tigress Financial Partners said.

The SEC on Thursday filed a lawsuit against Musk accusing him of fraud and sought to remove him from his role saying he made a series of "false and misleading" tweets about potentially taking the company private.

Shares of Tesla dived 11 per cent on Friday as Wall Street worried the lawsuit could force Musk to step down and make it difficult for the loss-making carmaker to raise more capital.

Several worried that the SEC action was also just the beginning of a legal battle with authorities, short sellers and other investors over Musk's actions that could cost Tesla heavily.

"The SEC civil action may lead to Musk's exit from Tesla (either permanently or temporarily) and the Musk premium in the shares dissipating," Barclays analyst Brian Johnson said.

Musk, 47, is the public face of Tesla, and has driven it to the verge of profitability with a costly ramp-up of production of its Model 3 sedan over the past year.

The Silicon Valley billionaire, who within three weeks of the tweets had abandoned the plan to delist Tesla, said overnight he had done nothing wrong and the company's board reiterated its support for him.

"It will be too damaging to Tesla for him to be removed fully," Fienseth said.

"In order for Tesla to raise money, I think investors will want Musk to stay involved but have more controls in place."

Tesla Inc Chief Executive Officer Elon Musk refused to pay a nominal fine and give up the role of chairman for two years as part of a settlement with the US Securities and Exchange Commission, CNBC reported on Friday, citing sources.

Tesla Inc Chief Executive Officer Elon Musk refused to pay a nominal fine and give up the role of chairman for two years as part of a settlement with the US Securities and Exchange Commission, CNBC reported on Friday, citing sources. The settlement would also require Tesla to appoint two new independent directors, the report said. Musk reportedly refused to sign the deal as he felt by settling he would not be truthful to himself and he wouldn't have been able to live with the idea that he agreed to accept a settlement and any blemish associated with that, the report said. Tesla did not immediately respond to a request for comment. "I'm not sure if they can settle with the SEC after turning down the opportunity, but you never know," Ivan Fienseth, an analyst with Tigress Financial Partners said. The SEC on Thursday filed a lawsuit against Musk accusing him of fraud and sought to remove him from his role saying he made a series of "false and misleading" tweets about potentially taking the company private. Shares of Tesla dived 11 per cent on Friday as Wall Street worried the lawsuit could force Musk to step down and make it difficult for the loss-making carmaker to raise more capital. Several worried that the SEC action was also just the beginning of a legal battle with authorities, short sellers and other investors over Musk's actions that could cost Tesla heavily. "The SEC civil action may lead to Musk's exit from Tesla (either permanently or temporarily) and the Musk premium in the shares dissipating," Barclays analyst Brian Johnson said. Musk, 47, is the public face of Tesla, and has driven it to the verge of profitability with a costly ramp-up of production of its Model 3 sedan over the past year. The Silicon Valley billionaire, who within three weeks of the tweets had abandoned the plan to delist Tesla, said overnight he had done nothing wrong and the company's board reiterated its support for him. "It will be too damaging to Tesla for him to be removed fully," Fienseth said. "In order for Tesla to raise money, I think investors will want Musk to stay involved but have more controls in place."

Musk refuses to give up chairman role as part of settlement: Report