Business
Tesla’s Bitcoin Transfers Spark Concerns, Price Remains Steady
Tesla’s recent large Bitcoin transfers raised concerns about a possible market crash, but data from Arkham suggests the company still controls the assets. Social media, particularly X, buzzed with worries, but no Bitcoin has moved from Tesla’s wallets since October 15.
Despite these transfers, Bitcoin’s price actually rose 5%, reaching $69,220 on October 21, before dropping slightly to $67,600. The reason behind Tesla’s Bitcoin transfers is unclear, but some speculate that the funds could be sent to a custodian, allowing Tesla to secure a loan using its Bitcoin.
Tesla uses Coinbase Prime Custody for storing its Bitcoin, and further plans may be revealed during the company’s third-quarter earnings call on October 23. Tesla remains the fourth-largest corporate holder of Bitcoin, having initially bought $1.5 billion worth in February 2021.
Since Uber exited Nigeria, rumours have been circulating over why the company left the country. One of the claims suggested that FAAN was part of the reason for the exit.
The Federal Airports Authority of Nigeria (FAAN) has now addressed the rumours and claims of its involvement in Uber’s decision to leave Nigeria.
FAAN said it could not speak for Uber’s decision, noting that the company likely had its own economic and regulatory considerations for leaving Nigeria.
FAAN’s Managing Director, Olubunmi Kuku, said “I can’t speak to Uber’s exit from Nigeria. I am sure they have their own economic and regulatory decisions as to why they chose to exit.”
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
FAAN Breaks Silence on Claims Over Uber’s Departure From Nigeria
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