Does Elon Musk’s Economic Warning Spell More Trouble For Crypto?

Do repost and rate:

Tesla CEO Elon Musk expects more economic trouble in the coming months, likely pointing to a negative trend for crypto markets.

Musk said he has a “super bad feeling” about the economy in an internal mail sent to executives, as reported by Reuters. Musk also plans to cut Tesla’s workforce by 10%.

The car maker has nearly 100,000 employees as of end-2021, according to an SEC filing. A 10% cut would entail at least 10,000 redundancies.

But the Tesla CEO’s economic prediction may spell more trouble for markets. While crypto markets were somewhat steady, U.S. stock futures fell further into negative territory.

Economic environment set to get worse?

A dour forecast from the world’s richest man comes amid already ongoing economic strife. U.S. inflation hit an over 40-year high this year, and is expected to stay elevated for the medium-term.

Regulation and Society adoption

Ждем новостей

Нет новых страниц

Следующая новость