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Tesla, a conflict of interest hovers over the purchase of BTC

Are legal troubles looming for the Californian company's management?

Conflict of interest it is an expression that Italians know very well. In fact, our country has been talking about it for decades, with reference to the events of Silvio Berlusconi, the Mediaset tycoon who decided to get involved in politics, despite being the owner of Mediaset and other companies of no small importance.
An expression that is now making a comeback in the United States, where even the conflict of interest is considered an extremely serious thing, so much so that it has inspired specific legislation in this regard. To push it back under the lens of public opinion is the story relating to the purchase of Bitcoin for an amount equal to one and a half billion dollars by Tesla. A story on which the questions increase by the hour.

Tesla - Tesla, a conflict of interest hovers over the purchase of BTC

Tesla: what happened

Tesla, the company founded and headed by Elon Musk, has invested a billion and a half dollars in Bitcoin. Adding the statement that it intends in the near future to allow BTC payments for its car models.
A decision that caused a sensation and a considerable discussion in public opinion. Also because mixing with Leon Musk's tweets it practically served as the basis for a new rally of BTC, such as to also benefit the Californian company, which immediately saw its investment rewarded.

The Antonio Gracias case

In the hours following the acquisition, however, the story began to take on increasingly opaque connotations. Especially for the connection between Antonio Thank you, one of the Tesla executives who authorized the investment, and two companies operating in the sector crypto.
Antonio Gracias is, in fact, listed on Tesla's website as an independent director and member of the audit committee who signed the deal. Looking at his professional biography, however, another fact of no small importance immediately catches the eye. Being that is the founder and CEO of Valor Equity Partners, an investment company with stakes in Bingo e Erisx. The first provides cryptographic services, while the second is a platform operating in the trading of cryptographic derivatives.

Antonio Gracias' interests in cryptography are long-standing

Antonio Gracias is an old acquaintance of Elon Musk. In addition to being a longtime friend, he joined Tesla's management in 2007 after investing in it two years earlier.
With the richest man in the world he also has something in common allergy to transparency. As evidenced by the fact that it has been operating for a long time in cryptography, without taking care to put a boundary between this sector and its other interests. In addition to his commitment to the company he founded, Telegraph, in an article dedicated to the story, he also recalled the investment he made in another cryptography company, the Harbor tokenization platform, acquired by Bitgo last year.

The matter is very serious

It was in particular to indicate the relevance of Gracias's conduct Charles Elson, professor of finance at the University of Delaware, who did not hesitate to say that it would have been the duty of the executive to step aside in the decision regarding the purchase of BTC by Tesla.
An opinion which has followed Bill Klepper, a management professor at Columbia Business School. Who stated that it would have been much better for Gracias to rely on the advice of a legal advisor to avoid any possible misunderstanding. Not having done so exposes him now to one possible investigation by the SEC, like Elon Musk.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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