MicroStrategy's Significant Bitcoin Impairment Losses May Mislead: Berenberg

Bitcoin Approaches Formation of Death Cross as Dollar Index Hints at Golden Crossover

SEC Finds 'No Grounds' to Deny Conversion of Bitcoin ETF, Grayscale Says

Tesla, the electric vehicle manufacturer founded by Elon Musk, turned out to be the ultimate paper hands after selling 75% of its Bitcoin (BTC) holdings in the second quarter. I declare goodbye. Both the cult of personality and a technologist who views the asset as his toy are bad for Bitcoin. Tesla still holds an estimated 10,800 Bitcoins on its books, and as far as we know, Musk hasn't sold any of his personal Bitcoin stockpile. However, it is preferable if we don't hear as much about Musk and Bitcoin.

This week's Crypto Biz details Cathie Wood's selling of Coinbase stock, Tesla's sale of Bitcoin, KuCoin's fight against fake news, and Tesla's sale of Bitcoin.

Elon Musk's Tesla says it has sold 75% of its bitcoin holdings - PageGoo

Tesla reports $64M profit from Bitcoin sale

It turns out that Tesla's choice to sell the majority of its Bitcoin wasn't as stupid as it originally seemed. In the transaction, the corporation made a $64 million profit. The manufacturer of electric vehicles has consistently failed to earn a profit over the years despite selling emission credits. Tesla stated that it may "raise or decrease" its holdings of digital assets in a form 10-K filing with the US Securities and Exchange Commission (SEC). Cynical prediction: Over time, Tesla will likely sell its remaining holdings due to ESG FUD.

What Elon Musk's bitcoin bet means for Tesla: 5 things to know - Nikkei Asia

KuCoin CEO Johnny Lyu launches ‘Anti-FUD Fund’

A self-described whistleblower who tweeted about the supposed insolvency of the company has been spreading false information regarding the cryptocurrency exchange KuCoin. Johnny Lyu, the CEO of KuCoin, has not only denied allegations that his business was experiencing a liquidity difficulty, but he has also established a "Anti-FUD Fund" to find and prosecute alleged "FUDers." The misinformation's source on Twitter appears to have been erased.

Cathie Wood sells Coinbase shares amid insider trading allegations

In light of claims that the cryptocurrency exchange Coinbase engaged in insider trading, Cathie Wood's ARK Investment Management appears to be separating itself from Coinbase. By the end of June, ARK had nearly $9 million in COIN stock, but sold more than 1.4 million shares during the course of the following month. According to Bloomberg, the SEC is looking into Coinbase's possible involvement in an insider trading scheme involving an ex-product manager. Coinbase is also being investigated separately and unrelatedly for potentially selling unregistered securities. You won't believe how much the COIN stock has dropped in the meanwhile.

3AC: A $10B hedge fund gone bust with founders on the run

We've been discussing the Three Arrows Capital fiasco for the past few months. The company, also known as 3AC, was renowned for its trading prowess, investments, and insights. The cult of personality surrounding its founders helped to create the perception of a perfect business. Then everything collapsed. Cointelegraph has put together an extensive expose about the entire ordeal as we wait for documentarians to film a movie about 3AC's demise. I'm referring to timeframes, analysis, and details on who owes whom what.

---------