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In 2012, Rafael de Mestre did something nobody else ever had – he drove around the world in an electric car, an original Tesla Roadster. And now, he’s driving around the world solo again in that same Roadster as a promotional and scouting tour and to recruit other teams to join him for yet another circumnavigation in 2024.

We got a chance to talk to him about his story when he stopped by for a charge during his second solo circumnavigation.

An IT consultant by trade, de Mestre was born in Catalunya and grew up in Germany. Early in his life, he remembers seeing the Citroen DS 21 and really liking it – except for the smell. He asked, why does it need to be so smelly? Isn’t it just going to make everything smelly? The adults told him no, there’s plenty of air; it won’t be a problem.

He wonders, now, what things might have been like if the adults had listened to him. And now, he’s driving around the world – again – to show that all of us can stop stinking up the air without sacrificing mobility, even on the longest and harshest routes.

Past round-the-world trips

The first trip around the world in an EV was in a time before there were many electric car chargers installed anywhere – and certainly no DC fast chargers yet, either. But de Mestre likes to say, “Wherever there is light burning, you can charge your car.” The point is that charging stations are far more available than most people think, and an EV can be charged anywhere that there’s electricity, which covers most of the world (he also saved his charging points in the Electromaps app).

A map of the 2012 route, with all charging stops marked. These are also stored in the Electromaps app.

It started as somewhat of a personal challenge – de Mestre had planned in 2013 to be the first to drive around the world once he took delivery of his Model S. However, in February 2012, a Citroen C-Zero took off from Strasbourg, piloted by two French drivers. Deciding he couldn’t let the duo beat him, de Mestre hastily planned a journey and set out from his native Catalunya in the electric car he had available, a Tesla Roadster, hoping to overtake the French team.

Over the next few months, the “race” took the two electric cars across Europe, the US, the Gobi desert, Kazakhstan, the Ural mountains, and Russia. In September, just a few weeks before the end of the trip, de Mestre managed to pass the Citroen and finished the journey around the world as the first electric car to ever make the trip.

The whole thing took 127 days – more than the 80 that de Mestre had hoped for, but given the limited time for planning visas and shipping across oceans (and a crash just 600 miles before the finish line), it’s not so bad for a first time out.

In 2016, de Mestre and 10 other teams completed a similar trip but this time with a greater variety of cars and more charger support. That trip involved one Roadster, eight Model S, one Denza, and one electric bus from the Hungarian company Modulo. And this time, they completed it in the planned 80 days.

Another trip was planned for 2020, but needless to say, travel was a bit more difficult that year. So that trip was pushed back and will now occur next year, in 2024.

Current solo circumnavigation – scouting for 2024

In advance of that trip, de Mestre has started on another solo world tour, scouting routes and locations for next year and looking for potential supporters or teams to recruit and join the trip. If you’re interested, check out 80edays to suggest stops or to express interest in becoming a team. It’s not cheap or easy, though; he’s looking for serious applicants.

You can track his location during this trip around the world, which has so far passed through most of the US – with a trip up the west coast remaining – and then will continue through Asia and Europe:

The route so far

This trip started in the US rather than Europe because he needed to get a new battery anyway. The original died after spending years in a museum, so the car was shipped to Gruber Motors, a Roadster repair shop in Arizona. Now, he’s got the upgraded 80 kWh battery, raising his range from the original ~240 miles to ~350.

To get the car to America, de Mestre accomplished what seems to be another zero-emission first – possibly the first car transported across the Atlantic with zero emissions (he couldn’t find any record of another vehicle doing the same, only transfers along the same coast).

For this feat, the car ended up in the cargo hull of the Avontuur, a cargo sailing ship. de Mestre said he was looking for a zero-emission shipping solution, but when he called the Avontuur, they told him they didn’t have enough space for a car. He pointed out that this wasn’t just any car; it was a tiny Tesla Roadster – and after checking the dimensions, they realized the car could just barely fit.

Unfortunately, there doesn’t seem to be an option for zero-emission transportation across the Pacific – yet. So Seattle to Hong Kong will have to involve fossil fuels for now.

The trip across America has thus far consisted of meeting with various Tesla clubs and longtime electric vehicle advocates and testing the legs on his new battery (he was able to get nearly 400 miles on a single charge once). And while most of the country is in his rear-view mirror at this point, he’s still got the west coast to conquer in the next couple of days. There are a couple of events and meetups planned. Scroll to the bottom of this page to see the most recent updates to the calendar (and expect changes – he’s going around the world in a Roadster, after all).

Looking ahead to Asia, another goal of this trip is to take a different route than before. Previous trips have included significant legs through Russia, which is an easier and more developed route to cross Asia.

But with the war in Ukraine and the stranglehold that Russia has over the European fossil energy supply, de Mestre wants to take another route. He’ll avoid Russia by taking a ferry from Kazakhstan to Azerbaijan across the Caspian Sea and entering Europe through Turkey. This will demonstrate how Russia could be cut out of commerce if it’s going to continue its aggressive actions.

He would also like to see more penetration of electric cars into areas outside of Europe, the US, and China and is working to coordinate the installation of charging points along his route. These other parts of the world are “like Europe was in 2012” – there are only a few EVs around, with a small but dedicated group of advocates. (Kazakhstan’s Tesla club has about seven people in it.) If the rest of the world can follow a similar trajectory, albeit delayed a bit, we’ll be on a good path toward easing the climate crisis.

Plans for 2024 and beyond

For the 2024 rally, de Mestre hopes to get 12 teams to complete 40,000 km of electric driving in 80 days – 500 km per day, consistently, for almost three months, even in the face of sometimes-slow charging, border crossings, and reliability issues. He’s planning to certify it as an official world record so that each team involved will have bragging rights that they were involved in one.

He also dreams of eventually completing a trip that involves driving to the Bering Strait and taking an all-electric car ferry across, completing a zero-emission circumnavigation in an electric car.

This is technologically possible, as there are electric car ferries already in use that would be capable of the journey, but none of them (nor any car ferry) travel between Alaska and Russia. So the political question, here, is a greater one than the technological one.

This brings up the point that the most frustrating moments of de Mestre’s trips have been at borders: visa troubles, fees, waiting for approvals, and so on. Between these troubles and the international nature of climate change, de Mestre has largely decided that borders are a roadblock to solving many of the world’s problems. When two countries are polluting across borders, rather than working together to solve the problem, what will often happen is that each one blames the other and does nothing to improve the situation – all the while, the global problem continues.

But these dreams are further in the future or perhaps can’t be solved by a single around-the-world trip. In the meantime, he’s focused on planning for next year’s trip, which starts in May. Find out more at 80edays.com, and follow the current trip on Instagram at @80edays_official or on X at @chargelocator.

Electrek’s Take

Some may ask what the purpose of a stunt like this is, thinking that it’s just a waste of time, money, energy, and so on. But this can be asked of many human pursuits, including many that are more useless than this.

There always needs to be someone who’s first to do something, who pushes the boundaries and shows people that something is possible.

And in this case, I am just one person who heard about the first trip way back in 2012 and yet have used it as an example countless times to show people that electric cars are more capable than they might have thought.

Maybe you live in Fresno and think there aren’t enough chargers near you because you aren’t in a huge city like LA… but if a car that can’t supercharge and uses a plug that no modern car does can make it through the Gobi desert, well, maybe Fresno isn’t so difficult after all.

A stunt like this provides an object lesson: if an IT consultant can pick up with little notice and drive an electric car around the world, with as little public charging support (and no supercharging) as there was in 2012, and then 10 more teams can do it again in 2016, and hopefully more teams again in 2024… then why are your circumstances so much more impossible? Maybe it’s not that hard after all.

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Fintechs like Block and PayPal are battling like never before to be your all-in-one online bank

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Fintechs like Block and PayPal are battling like never before to be your all-in-one online bank

Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021.

Eva Marie Uzcategui | Bloomberg | Getty Images

Jack Dorsey’s Block got started as Square, offering small businesses a simple way to accept payments via smartphone. Affirm began as an online lender, giving consumers more affordable credit options for retail purchases. PayPal upended finance more than 25 years ago by letting businesses accept online payments.

The three fintechs, which were each launched by tech luminaries in different eras of Silicon Valley history, are increasingly converging as they seek to become virtual all-in-one banks. In their latest earnings reports this month, their lofty ambitions became more clear than ever.

Block was the last of the three to report, and the high-level numbers were troubling. Earnings and revenue missed estimates, sending the stock down 18%, its steepest drop in five years. But to hear Dorsey discuss the results, Block is successfully implementing a strategy of offering consumers the ability to pay businesses by smartphone, send money to friends through Cash App, and access credit and debit services while also getting more ways to invest in bitcoin.

In 2024, we expanded Square from a payments tool into a full commerce platform, enhanced Cash App’s financial services offerings, and restructured our organization,” Dorsey said on Block’s earnings call on Thursday after the bell.

Block and an expanding roster of fintech rivals have all come to see that their moats aren’t strong enough in their core markets to keep the competition away, and that the path to growth is through a diverse set of financial services traditionally offered by banks. They’re playing to an audience of digital-first consumers who either didn’t grow up using a brick-and-mortar bank or realized at an early age that they had no need to ever set foot in a physical branch, or to meet with a loan officer or customer service rep.

“Longer term, we see a significant opportunity to grow actives, particularly among that digital-native audience like Millennial and Gen Z,” Block CFO Amrita Ahuja said on the earnings call.

Block shares drop after reporting earnings and revenue miss

As part of its expansion, Block has encroached on Affirm’s turf, with an increasing focus on buy now, pay later (BNPL) offerings that it picked up in its $29 billion purchase of Afterpay, which closed in early 2022. Block’s market share in BNPL increased by one point to 19%, while Affirm held its position at 17%, according to a recent report from Mizuho. Both companies are outperforming Klarna in BNPL, the report said.

Block’s BNPL play is now tied into Cash App, with an integration activated this week that gives users another way to make purchases through a single app. With Cash App monthly active users stagnating at 57 million for the last few quarters, the company is focused on engagement rather than rapid user acquisition.

“We think that there is significant opportunity for growth longer term, but there are some deliberate decisions we’ve made as part of our banker-based strategy in the near term” that have kept user numbers from increasing, Ahuja said. “This is a part of our continuous enhancements to drive healthy customer engagement as we bank our base.”

Compared to Block, Wall Street had a very different reaction to Affirm’s earnings earlier this month, pushing the stock up 22% after the company’s results sailed past estimates.

Affirm founder and CEO Max Levchin, who was previously a co-founder of PayPal, built his company with the promise of giving consumers lower-cost and easy-to-tap intstallment loans for purchases like electronics, jewelry and travel.

The BNPL battlefront

Watch CNBC's full interview with PayPal CEO Alex Chriss

Under the leadership of CEO Alex Chriss, who took over the company in September 2023, PayPal is in the midst of a turnaround that involves working to better monetize products like Braintree and Venmo and joining the world of physical commerce with a debit card inside its mobile app.

Investors responded positively in 2024, pushing the stock up almost 40% after a brutal few years. But the stock dropped 13% after its earnings report, even as profit and revenue were better than expected. PayPal’s total payment volume for the quarter hit $437.8 billion, slightly below projections, while transaction margins rose to 47% from 45.8% — a sign of improving profitability.

One of Chriss’ big pushes is to get more out of Venmo, which has long been a popular way for friends to pay each other but hasn’t been a big hit with businesses. Venmo’s total payment volume in the quarter rose 10% year-over-year, with increased adoption at DoorDash, Starbucks, and Ticketmaster.

PayPal is also promoting Venmo’s debit card and “Pay With Venmo,” which saw 30% and 20% monthly active growth in 2024, respectively. The company is introducing new services to improve merchant retention, including its Fastlane one-click checkout feature, designed to compete with Apple Pay and Shopify’s Shop Pay.

Last year, the company launched PayPal Everywhere, a cashback-driven initiative designed to boost engagement within its mobile app. Chriss said on the earnings call that it’s “driving significant increases in debit card adoption and opening new categories of spend.”

As with virtually all financial services products, the new offerings from Block, Affirm and PayPal are designed to produce growth but not at the expense of profit. Banks operate at low margins, in large part because there’s so much competition for lower-priced loans and better cash-back options. There’s also all the costs associated with underwriting and compliance.

That’s the environment in which fintechs have to operate, though without the costs of running a network of physical branches.

Levchin talks about helping customers spend less, not more. And Block acknowledges the need for hefty investments to reach the company’s desired outcome.

“This is a part of our continuous enhancements to drive healthy customer engagement as we bank our base,” Ahuja said. “We’ve made investments in critical areas like compliance, support and risk. And as we’ve done that, we’ve progressed more of our actives through our identity verification process, which in turn, unlocks greater access to those actives to our full suite of financial tools.”

WATCH: CNBC’s full interview with PayPal CEO Alex Chriss

Watch CNBC's full interview with PayPal CEO Alex Chriss

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Trump to shut down all 8,000 EV charging ports at federal govt buildings

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Trump to shut down all 8,000 EV charging ports at federal govt buildings

The Trump administration is shutting down EV chargers at all federal government buildings and is also expected to sell off the General Services Administration‘s (GSA) newly bought EVs.

GSA, which manages all federal government-owned buildings, also operates the federal buildings’ EV chargers. Federally owned EVs and federal employee-owned personal EVs are charged on those 8,000 charging ports.

The Verge reports it’s been told by a source that plans will be officially announced internally next week, and it’s seen an email that GSA has already sent to regional offices about the plans:

“As GSA has worked to align with the current administration, we have received direction that all GSA-owned charging stations are not mission-critical.”

The GSA is working on the timing of canceling current network contracts that keep the EV chargers operational. Once those contracts are canceled, the stations will be taken out of service and “turned off at the breaker,” the email reads. Other chargers will be turned off starting next week.

“Neither Government Owned Vehicles nor Privately Owned Vehicles will be able to charge at these charging stations once they’re out of service.” 

Colorado Public Radio first reported yesterday that it had seen the email that was sent to the Denver Federal Center, which has 22 EV charging stations at 11 locations.

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The Trump/Elon Musk administration has taken the GSA’s fleet electrification webpage offline entirely. (An archived version is available here.)

The Verge‘s source also said that the GSA will offload the EVs it bought during the Biden administration, although it’s unknown whether they’ll be sold or stored.

Read more: Trump just canceled the federal NEVI EV charger program


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Hackers steal $1.5 billion from exchange Bybit in biggest-ever crypto heist

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Hackers steal .5 billion from exchange Bybit in biggest-ever crypto heist

Ben Zhou, chief executive officer of ByBit, during the Token2049 conference in Singapore, on Thursday, Sept. 14, 2023. 

Joseph Nair | Bloomberg | Getty Images

Bybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.

The attack compromised Bybit’s cold wallet, an offline storage system designed for security. The stolen funds, primarily in ether, were quickly transferred across multiple wallets and liquidated through various platforms.

“Please rest assured that all other cold wallets are secure,” Ben Zhou, CEO of Bybit, posted on X. “All withdrawals are NORMAL.”

Blockchain analysis firms, including Elliptic and Arkham Intelligence, traced the stolen crypto as it was moved to various accounts and swiftly offloaded. The hack far surpasses previous thefts in the sector, according to Elliptic. That includes the $611 million stolen from Poly Network in 2021 and the $570 million drained from Binance in 2022.

Analysts at Elliptic later linked the attack to North Korea’s Lazarus Group, a state-sponsored hacking collective notorious for siphoning billions of dollars from the cryptocurrency industry. The group is known for exploiting security vulnerabilities to finance North Korea’s regime, often using sophisticated laundering methods to obscure the flow of funds.

“We’ve labelled the thief’s addresses in our software, to help to prevent these funds from being cashed-out through any other exchanges,” said Tom Robinson, chief scientist at Elliptic, in an email.

The breach immediately triggered a rush of withdrawals from Bybit as users feared potential insolvency. Zhou said outflows had stabilized. To reassure customers, he announced that Bybit had secured a bridge loan from undisclosed partners to cover any unrecoverable losses and maintain operations.

The Lazarus Group’s history of targeting crypto platforms dates back to 2017, when the group infiltrated four South Korean exchanges and stole $200 million worth of bitcoin. As law enforcement agencies and crypto tracking firms work to trace the stolen assets, industry experts warn that large-scale thefts remain a fundamental risk.

“The more difficult we make it to benefit from crimes such as this, the less frequently they will take place,” Elliptic’s Robinson wrote in a post.

WATCH: Crypto stocks plunge

Crypto stocks plunge despite SEC dropping suit against Coinbase

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