CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Tesla’s Master of Coin Resigns as CFO

08.08.2023
A A
0
122
VIEWS
ShareShare

Zachary Kirkhorn, who served as chief financial officer at Tesla, stepped down after staying in the position for the last four and a half years. He will remain part of the company until the end of 2023 to help transition the new CFO.

Kirkhorn earned the nickname “Master of Coin” in 2021, shortly after the electric vehicle giant splashed the waters with its whopping $1.5 billion bitcoin purchase.

Changes in Tesla’s Management Team

Kirkhorn (who joined Tesla in 2010) will be succeeded by the chief accounting officer Vaibhav Taneja. The former CFO confirmed the news on his LinkedIn profile, saying his journey at the firm has been a “special experience.” He also thanked all his colleagues, including CEO Elon Musk, for their support over the years.

“Being a part of this company is a special experience, and I’m extremely proud of the work we’ve done together since I joined over 13 years ago. As I shift my responsibilities to support this transition, I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible.

I also want to thank Elon for his leadership and optimism, which has inspired so many people,” he stated.

Zachary Kirkhorn, Source: CNBC

Kirkhorn did not disclose the reasons behind his departure nor what his next step will be. Apart from managing the financial policies of Tesla through challenging times such as the COVID-19 crisis, he will be remembered by his nickname “Master of Coin.”

He earned that informal title shortly after the EV behemoth bought $1.5 billion worth of bitcoin in 2021 and displayed intentions to accept the asset as a payment method. Musk, on the other hand, was named “Technoking.”

ADVERTISEMENT

What Happened to Tesla’s BTC Bet?

The company kept its stash untouched for approximately a year and a half before selling 75% of it in July last year. However, Musk explained that the move was not prompted because Tesla does not believe in the primary cryptocurrency anymore but because it had to cover record production costs in China.

The firm has not sold any of its BTC possessions since then and remains one of the largest corporate holders of the leading digital asset. It has 10,725 BTC, equaling around $315 million (calculated at current rates).

Besides that, Tesla accepted the asset as a payment option for its vehicles in March 2021. Shortly after, though, it suspended that offering out of concern over the “rapidly increasing use of fossil fuels for bitcoin mining.”

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share9Tweet6ShareSharePin2

Related Posts

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs
All news

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
0

The Russian Energy Ministry has begun compiling a national registry of crypto mining rigs as it looks to crack down...

Read moreDetails
Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
Load More
Next Post
Trading Strategies Amid Bearish Market Followed by BTC Long-Term Investors

Trading Strategies Amid Bearish Market Followed by BTC Long-Term Investors

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Canada Warns of Rising Pig Butchering and Crypto Investment Scams

Canada Warns of Rising Pig Butchering and Crypto Investment Scams

1 year ago
Google Cloud Expands Partnership With Celo Network as Validator

Google Cloud Expands Partnership With Celo Network as Validator

2 years ago
Bitgert (BRISE) Announces Development of P2P Exchange, Starting August 2023

Bitgert (BRISE) Announces Development of P2P Exchange, Starting August 2023

2 years ago
U.S. Authorities Recover $5M Tether in ‘Pig Butchering’ Scam

U.S. Authorities Recover $5M Tether in ‘Pig Butchering’ Scam

11 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

Trending

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs
All news

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
0

The Russian Energy Ministry has begun compiling a national registry of crypto mining rigs as it looks...

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz