Bloomberg Law
Crypto
LinkedIn

Tesla Details Bitcoin $170m Impairment, SEC Subpoena in 10Q (1)

July 25, 2022, 10:40 AM UTC
Robert Lavelle
Robert Lavelle
Bloomberg News

(Updates with more info on subpoena, CAPEX view)

Tesla published its 10-Q filing early Monday morning, releasing more details about the cost of its Bitcoin bet and the ongoing fallout from CEO Elon Musk tweeting that he was consider taking Tesla private.

  • Recorded $170 million of impairment losses resulting from changes to the carrying value of its Bitcoin
    • Gains of $64 million on conversions of Bitcoin into fiat currency
  • Received a subpoena from the SEC on June 13 seeking “information on our governance processes around compliance with the SEC settlement”
    • NOTE: February: Tesla Subpoenaed by SEC About Complying With Musk ...









Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.