Tesla CEO Elon Musk photographed in Austin, Texas, on April 7, 2022. The electric vehicle firm has also made forays into battery storage.
Suzanne Cordeiro | AFP | Getty Images
Dogecoin, the cryptocurrency branded after a viral dog meme from 2013, is up 35% since Monday as Elon Musk’s deal to buy Twitter approaches a close.
The price of the token often moves in lockstep with comments made by the Tesla CEO. Doge is up 10% in the last 24 hours after the SpaceX chief changed his Twitter bio to “Chief of Twit” on Wednesday. Similarly, the meme token saw a price surge in April when Musk first floated the idea of adding dogecoin as a payment method for Twitter’s subscription service, Blue. It also saw a sell-off in June as Musk tried to back out of the purchase.
But following a monthslong battle between Musk and Twitter over the sale, all signs point to Musk closing the deal by his deadline of 5 p.m. on Friday. The alternative is Musk facing trial in a Delaware courtroom.
The price surge in dogecoin — pronounced “doje coin” with a soft “g” sound — also coincides with rumors that Twitter is prototyping its own crypto wallet.
Jane Manchun Wong, apopular tech blogger known for her prescient calls in the space, tweeted on Monday that Twitter was “working on a ‘wallet prototype’ that supports ‘crypto deposit and withdrawal.'”
“We don’t know which kind of cryptocurrency will be supported yet, or which network,” Wong told CNBC.
Twitter has not announced a cryptocurrency wallet product, but the social media company did roll out a tipping feature last year, which allows users to send creators bitcoin via the platform. In February, Twitter added ether to its tips function.
Host Elon Musk during the monologue on Saturday, May 8, 2021.
Will Heath | NBCUniversal
The Elon Musk effect
It isn’t totally clear when or why dogecoin captured the heart of Elon Musk. The billionaire Tesla and SpaceX CEO has spent years talking up the token.
Musk’s tweets with sometimes oblique references to dogecoin have often sent it to new record-high prices. These posts have also helped drive retail investor interest.
“You have this one guy who is sort of like the cult leader,” said Asheesh Birla, a general manager at Ripple, which manages an alternative cryptocurrency used for payments.
Musk, however, isn’t alone in his celebrity endorsement of the animal-branded token. Dallas Mavericks owner Mark Cuban, Snoop Dogg and Kiss bassist Gene Simmons have all publicly rallied behind dogecoin in the past. Even beef jerky brand Slim Jim got in on the action at one point.
But there was more to dogecoin’s record price run than just celebrity backing. There has also been the enduring sentiment to “stick it” to the establishment.
“Dogecoin is like this kind of big F-U to the system,” said Avi Felman, Head of Trading at BlockTower Capital. “It’s like, ‘Yeah, this thing can have value, too. And I’m just going to buy it, because I’m going to buy it.'”
“Elon is basically pushing up this message of, ‘Why can’t dogecoin have value?'” said Felman of doge’s 2021 price rise. “People like these narratives. They like these stories. They like these jokes. And dogecoin just captured the mind and imagination of every single retail investor.”
“You have a rabid online community,” Birla said of the fan base of doge evangelists.
In 2013, software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of bitcoin and the many other cryptocurrencies boasting grand plans to take over the world.
“You have Twitter and Reddit, where they’re all sort of congregating and thinking about how to pump dogecoin,” said Birla.
Valuing dogecoin
The question of whether dogecoin holds value is debatable.
At the moment, there are very few use cases for the token. Though more merchants began to accept dogecoin as a method of payment last year, it is nowhere near the level of adoption necessary to be used as any sort of actual currency substitute.
“These days it’s all one big marketing ploy,” Mike Bucella, BlockTower Capital general partner, previously told CNBC.
Unlike rival cryptocurrencies such as ether, which let programmers build applications on their platform to do things like lend and borrow money, there isn’t much anyone can do with dogecoin.
Dogecoin isn’t really a reliable store of wealth either, given that this typically requires a certain degree of long-term faith in the coin and the blockchain upon which it’s been built.
“If you look at the dogecoin protocol itself, I don’t even know if there’s anyone over the last several years who has added new functionality or code to it,” said Birla. “Dogecoin doesn’t really have a development team behind it.”
Given these limitations, the run-up in dogecoin appears to be purely speculative. Dogecoin has value because other people believe that it has value — and because they believe that someone else is willing to buy it from them at a higher price.
Disclosure: “Saturday Night Live” is a TV show of NBCUniversal, the parent company of CNBC. CNBC owns the exclusive off-network cable rights to “Shark Tank,” which features Mark Cuban as a panelist.
Is it just me, or do too many new vehicles look about the same? Hyundai believes it’s time to end a popular trend that nearly every EV has nowadays.
Hyundai looks past the LED lightbar for new EV design
The LED light bar has been around for a while. In the early 2000’s Xenon headlights were the hit trend, offering much brighter light while consuming less energy.
Although it was initially mainly found on luxury vehicles, Hyundai was one of the first to jump on the trend, working to make it more widely available at a lower cost.
Over the past few years, the trend has evolved into a thin LED light strip stretched across the front and sometimes the rear of the vehicle.
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Since most brands are slapping it on electric vehicles, it’s become almost a status symbol of the EV movement. In early 2023, Hyundai revealed the new “EV-derived, futuristic” design for the Kona Electric, placing a heavy emphasis on the front LED lightbar.
Hyundai Kona Electric N Line (Source: Hyundai)
Nowadays, nearly every vehicle, EV or gas-powered, has the popular design feature. Even Tesla hopped on the trend with the new Model Y, Model 3, and Cybertruck.
According to Hyundai’s design boss, Simon Loasby, LED lightbars are “almost at the end of their journey.” After unveiling the new Concept Three at the Munich Motor Show last week, Loasby explained to Car Magazine on the sidelines, “When is the time you need to let go [of light bars], it’s almost like the end of that.”
The 2026 Hyundai Sonata Hybrid Limited with an LED lightbar (Source: Hyundai)
Although Hyundai recently added the lightbar to the Grandeur, Kona, and Sonata, Loasby said he’s “seen enough.”
“It worked at the time, and it was absolutely right, the Grandeur was the first car with a one-piece structure. The biggest thing is the cost level, you just can’t afford to do it and some customers don’t need it,” Hyundai’s design chief explained.
Hyundai IONIQ 9 (Source: Hyundai)
In China, “you must have it,” Loasby said, but in other markets, like Europe and the US, it’s not needed. Hyundai is instead focusing on differentiating itself with its unique pixel lightning, found on the IONIQ EV models.
Hyundai has already had a few copy its design, notably the Fiat Grande Panda, which Loasby joked, “thanks for copying, thanks for being inspired by us.”
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
It may be time for a shake-up. Loasby said, “I think we are almost at the end of journey in terms of lighting. It’s almost like chrome.”
Hyundai’s new Concept Three, which is expected to launch as the IONIQ 3 in production form, did not feature a full LED lightbar. Instead, it had an updated pixel lightning design.
Electrek’s Take
I have to agree with Loasby on this one. I must admit that at first, I was a fan of the sleek look of a nice, slim lightbar, especially at night.
The more I see it, the more it reminds me of a Toyota now. And that’s nothing against them (It is the world’s largest automaker), but should a Tesla Model Y, or even a Porsche 911, look the same as a Toyota from the front? I’ll let you determine that one.
I drive a 2023 Tesla Model 3, the last of the pre-facelift version, and was pretty bummed to see how cool the updated Model 3 looked at first. The more I see them, though, the more I like the design of the first-gen Model 3 and its wide eyes. It’s unique. Now, the Model 3 looks like any other vehicle, at least, in my opinion.
Is it time to put an end to the LED lightbar? Let us know how you feel about it below.
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Zero 60, an EV charge point operator on the ChargePoint network, is bringing fast charging to a Culver’s in the Northwoods of Wisconsin. The company, founded by Faith Technologies Incorporated (FTI), will install a renewable-powered charging station in Rhinelander.
The new site sits along a state-designated Alternative Fuel Corridor at Culver’s on 620 W. Kemp St. It will feature four 160-kilowatt charging ports, giving EV drivers in northern Wisconsin reliable fast charging well beyond the state’s urban hubs.
The project is backed by the Wisconsin Department of Transportation’s first round of funding from the Wisconsin Electric Vehicle Infrastructure (WEVI) program. Wisconsin wants to ensure EV drivers can confidently travel north, knowing they won’t be stranded without chargers.
“Partnering with a well-known brand like Culver’s gives us a unique opportunity to combine Midwest hospitality with clean, convenient charging,” said Wade Leipold, executive vice president of FTI. “We’re proud to support Wisconsin’s efforts to build a robust, future-ready charging network that serves communities and travelers alike.”
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Zero6 Energy is financing, owning, and operating the station, while FTI is handling the engineering, design, installation, and ongoing maintenance. Zero 60 already operates nine charging sites and has plans for many more across the US, with the first wave of stations installed in New York, California, Colorado, and Wisconsin, and more currently being developed in other states.
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Tesla is attempting to conceal the details of three separate accidents involving its Robotaxi service in Austin, Texas, despite having only two months of service with a small fleet.
Due to the Standing General Order 2021-01 (the “SGO”), automakers are required to report to NHTSA crashes involving their autonomous driving and advanced driver assistance systems within five days of being notified of them.
We have previously reported on Tesla leading crashes for level 2 driver assistance systems by thousands of reported crashes, but the automaker never reported any automated driving crashes because it never had any system that would qualify as a level 3-5 SAE automated driving system, despite the name of its “Full Self-Driving” software package.
This has changed with the launch of Tesla’s limited Robotaxi service in Austin, Texas.
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Now, Tesla has reported its first three accidents involving an “automated driving system” through its new Robotaxi effort:
Report ID
Same Incident ID
Model
Model Year
Incident Date
Incident Time
Roadway Type
Injury Severity*
13781-11507
346e79b6abcc2ca
Model Y
2026
JUL‑2025
03:45
Street
Property Damage. No Injured Reported
13781-11459
8578fbc6ef74c60
Model Y
2026
JUL‑2025
12:20
Street
Minor W/O Hospitalization
13781-11375
b5d3e7bb23a3388
Model Y
2026
JUL‑2025
15:15
Intersection
Property Damage. No Injured Reported
All the accidents happened in July, during Tesla’s first month of operating its Robotaxi service in Austin, Texas.
There was at least one injury reported for one of the crashes, but Tesla lists it as “minor”. None of the accidents is being investigated by authorities based on the information Tesla has released.
Tesla hasn’t released many details about its Robotaxi effort, but the automaker is estimated to have only about 12 vehicles in its Robotaxi fleet in Austin as of July, and it was offering rides to only a limited group of users, mostly Tesla influencers and shareholders who are disincentivized from criticizing the company.
As it does with its ADAS crash reporting, Tesla is hiding most details about the crashes. Unlike its competitors, which openly release narrative information about the incidents, Tesla is redacting all the narrative for all its crash reporting to NHTSA:
It makes it hard to get any context about the accident and assess the level of responsibility for the automated driving system.
Unlike competitors, such as Waymo, Tesla’s Robotaxi still uses a “safety monitor” who sits in the front seat with a finger on a kill switch ready to stop the vehicle. Despite this added level of safety, Tesla is evidently still experiencing crashes.
CEO Elon Musk has claimed that Tesla would remove the safety monitor by the end of the year and deliver on its “full self-driving” promises to customers, but he has never shared any data proving that Tesla’s automated driving system is reliable enough to achieve that.
The facts are that Tesla has never released any significant data to prove that its system is reliable. Never.
The only data Tesla has shared is the cumulative mileage driven by the fleet on Autopilot and Full Self-Driving, but that’s with a human driver at the wheel at all times.
Tesla never shared disengagement data despite publicly claiming multiple factors of improvement in miles between disengagements.
How can you trust a company that operates like that?
Furthermore, it redacts the most critical details of crashes involving its driver-assist and automated driving systems.
That’s not the type of opacity I want to see from a company deploying potentially dangerous, yet also potentially lifesaving, technology.
Unfortunately, I’ve lost hope of regulators doing anything about this any time soon. It will likely take more tragic accidents for them to act.
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