GM Explorer,

Elon Musk’s Tesla just made a jaw-dropping $765 million move in Bitcoin, which has the crypto community buzzing!

Here’s what we got for you today:

• 🤑 Tesla moves $765 Million in Bitcoin!

• 🗣️ Mark Cuban on Kamala Harris’s changing crypto stance!

• 🧱 Around The Block: TikTok is accused of operating as a crypto exchange in the UK.

🤑 Tesla Moves $765 Million in Bitcoin!

Well, folks, it looks like Tesla is back in the Bitcoin game!

After a two-year snooze, the wallets linked to Elon Musk's electric car empire shipped off nearly all their Bitcoin, valued at a staggering $765 million, to some mysterious new wallets.

And guess what? They left behind a mere 6 bucks!

But before you start imagining Tesla cashing in or planning to shake up the market with a massive sell-off, here’s the twist:

These new wallets aren’t linked to any crypto exchanges, so what Elon and the gang are up to is a bit of a mystery.

But remember back in 2020 when Tesla jumped on the Bitcoin bandwagon with a $1.5 billion purchase?

Well, they didn’t stick around for long.

They sold about 10% in early 2021 and then offloaded another 75% in July 2022—right when Bitcoin took a nosedive to around $24,000. Ouch!

But with Bitcoin’s price sitting pretty at about $66,500 now, if they decide to sell, it’ll be a serious payday!

The crypto community's reaction is all panic and speculation because, let’s face it, nobody can afford another market meltdown right now, so it’s kind of understandable.

And let’s not forget that Tesla's relationship with Bitcoin has been more complicated than a soap opera.

They briefly flirted with accepting Bitcoin for car payments in 2021, only to backtrack two months later due to environmental concerns—because, you know, saving the planet is kind of a big deal.

Musk did mention he’d consider accepting Bitcoin again when most of its mining is powered by green energy, but here we are still waiting for that green light.

Overall, whether they’re planning on cashing in or are just taking their Bitcoin on a joyride, your guess is as good as mine.

But stay tuned, folks! This saga is just beginning, and it’s already shaping up to be one wild ride!

You should read the whole report here!

🗣️ Mark Cuban on Kamala Harris’s Changing Crypto Stance!

Mark Cuban recently shared some fascinating insights on Harris's evolving views on digital assets in the lead-up to the U.S. elections.

It all started with an exchange on X, where a crypto enthusiast questioned why Harris doesn't transfer the U.S. government’s 200,000 bitcoins to the treasury.

Cuban jumped in to defend her!

He stated that the law currently prevents it and that no one can change it unilaterally. But it has been discussed, and the law has to change.

But that's not all – Dogecoin co-creator Billy Markus, popularly known as Shibetoshi Nakamoto, chimed in another post.

He expressed his belief that cryptocurrency is beyond many lawmakers' understanding and that it messes with existing laws.

Cuban responded to that in a more detailed post.

This time, he pointed out that the treasury has an obligation to dispose of anything it takes possession of, like the 69k BTC, in a manner that most benefit taxpayers.

However, he pushed for all confiscations in crypto to be held and not sold.

And warned Harris’s team about the potential market impact of quickly selling large amounts of Bitcoin.

He further pointed out that, based on her recent statement about protecting people who hold digital assets, it’s clear they now understand.

Importantly, Cuban emphasized that Harris now understands that many people in the ‘app economy’ don’t open bank accounts but use apps like Robinhood, Coinbase, etc.

He says a whole lot more; check it out here!

To round things out, he categorically stated that “in 100 days, she is night and day away from Biden and far ahead of Trump, who wants to push tokens.”

I bet the question on your mind now is, why is Cuban defending Harris so passionately?

Cuban has been a vocal supporter of Vice President Kamala Harris for some time now, perhaps because he believes she has a genuine approach to crypto compared to other political figures.

He recently took a swing at Donald Trump, stating that, unlike Trump, she doesn't pretend to know everything about crypto.

This recent defense of Harris’s cryptocurrency knowledge coincides with her unveiling a new regulatory framework to support digital assets.

Her "Opportunity Agenda for Black Men" acknowledges and focuses on the growing importance of cryptocurrencies among Black Americans.

However, some industry leaders criticized the plan's narrow focus on black men.

Interestingly, Cuban has voiced his discontent with the current SEC Chair's approach to crypto regulation and even suggested himself as a potential SEC chair candidate should Harris win the U.S. presidency.

So, that may be another angle; who knows? 🤷‍♀️

Read the full story here.

🧱 Around The Block

• TikTok is accused of operating as a crypto exchange in the UK.

• Blackrock CEO Larry Fink declares Bitcoin an asset class, rivaling Gold in investment potential.

• The rise of female crypto-entrepreneurs in Cochabamba.

• Canary files for Litecoin (LTC) ETF.

• Bitcoin ETF daily inflow hits $556M as BTC appears primed for breakout.

• Standard Chartered says Bitcoin could revisit its all-time high before the US election.

• Hong Kong police arrest 27 in $46m deepfake crypto romance scam.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.