While Dogecoin’s recent price surge has captured Wall Street’s attention, Galaxy Digital CEO Mike Novogratz is urging investor to be very careful, cautioning that the jump is a 'retail phenomenon driven by the fact that [Federal Reserve] Chair Jay Powell is giving money to everybody.'
Tesla Inc came under increased pressure in China on Wednesday from regulators and state media after Monday's protest by a disgruntled customer at the Shanghai auto show went viral and forced the electric car maker into a rare apology. The singling-out of Tesla in China, which accounts for 30% of the U.S. firm's global sales and where it makes cars at its own factory in Shanghai, comes amid ongoing U.S.-China tensions and as other foreign firms have encountered backlash. Late on Wednesday, China's market regulator urged Tesla to ensure product quality in the country, while the official Xinhua news agency said that Tesla's apology was "not sincere".
Tesla Inc apologised to Chinese consumers for not addressing a customer's complaints in a timely way, and said it would launch a review of its service operations in the world's biggest auto market. The unusual public apology from Tesla followed criticism in state media, and an incident at the Shanghai auto show that got wide attention in China's social media. An unhappy customer by clambered atop a Tesla at the auto show to protest the company's handling of her complaints about malfunctioning brakes.