Tesla triggers BTC drop, and MoneyGram customers will be able to buy bitcoins for cash

Bitcoin price drops due to Tesla announcement

Elon Musk’s Tesla has decided to suspend the sale of electric vehicles for BTC. The company expressed concerns about the environmental friendliness of the mining of the crypto coin.

“We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel,” the company said in a statement, which Musk posted on his page.

According to Coinmarletcap data as of May 13, the bitcoin rate fell below $49,877. In 24 hours, the coin fell by 14%. Crypto market participants noted that for some reason Tesla paid attention to energy consumption when mining BTC only now, although for two months the company has been selling electric cars for bitcoins.

MoneyGram and Coinme will enable customers to buy and sell BTC for cash

MoneyGram, a money transfer platform, has become partners with the Coinme cryptocurrency exchange. The clients of the companies will be able to buy or sell bitcoins for cash.

Within a month, the BTC-related service will appear in the American branches of the payment system. In the second half of this year, it is planned to launch the service in “selected international markets”.

“This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency,” said Alex Holmes, Chairman, and CEO of MoneyGram.

Unknown person stole $25 million from the DeFi protocol xToken

An unknown attacker removed cryptoassets from the xToken decentralized finance protocol. The damage is preliminarily estimated at $25 million.

Representatives of the project said that the theft was recorded on May 12. Within 10 minutes after the start of the attack, experts discovered “discrepancies in price and supply,” which led to the suspension of smart contracts.

The criminal immediately emptied the liquidity pools xBNTa and xSNXa. The hacker extracted 416 Ethereum from the xSNX contract, where the cryptocurrency is stored as part of a debt hedging strategy. The Bancor and Balancer liquidity pools lost assets worth about $ 25 million.

According to the latest data, the perpetrator stole 2,400 ETH, 781,000 BNT, 407,000 SNX and 1.9 billion xBNTa. He sold all coins except xBNTa for 5,600 ether.