UAE delivers 10 aid convoys to Gaza

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The United Arab Emirates has sent ten humanitarian aid convoys to the Gaza Strip as part of its ongoing relief effort. This campaign, carried out under the "Gallant Knight 3" operation, seeks to offer critical food supplies, medical aid, and other requirements to Palestinians affected by the ongoing situation. Despite the challenges on the ground, the UAE's leadership has reaffirmed its commitment to humanitarian assistance, ensuring that relief reaches those in critical need. These convoys are part of a larger campaign to alleviate suffering in Gaza, where thousands of families are facing shortages of basic commodities. UAE relief teams, working in collaboration with international humanitarian groups, have been critical in ensuring the safe and efficient distribution of aid. Medical supplies and food packages have been prioritized, especially for children, the elderly, and the most vulnerable people affected by the disaster. The UAE has long been at the forefront of huma...
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Elon Musk's Tesla Sells Most Of Its Bitcoin Holdings

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Elon Musk

Billionaire Elon Musk’s Tesla has sold 75 per cent of its Bitcoins, which was worth about $2bn (£1.7bn) at the end of 2021. Tesla added $936 million in cash to its balance sheet in the second quarter (Q2) this year.

Tesla was in limelight last year when it revealed a major investment in Bitcoin. However, it dealt with an economic meltdown this year amid cryptocurrencies falling off the cliff.

Tesla said in a shareholder letter on Wednesday, “As of the end of Q2, we have converted approximately 75 per cent of our Bitcoin purchases into fiat currency.” In the balance sheet report, Tesla said that it owns net digital assets worth $218 million, which is down from the $1.26 billion in the previous quarter. Tesla’s first investment in Bitcoin was for $1.5 billion last February. The price of Bitcoin dropped about 2% on the news of Tesla’s fire sale.

Tesla’s sale of Bitcoin comes at a time when the cryptocurrency market has plunged to its months-low. Over the past few months, 1 Bitcoin is hovering around $17,000 to $22,000.

No Dogecoin Sold by Tesla

Musk said in the earnings conference call that Tesla did not sell Dogecoin. Tesla has not to date mentioned anything about its Dogecoin holdings, but it began accepting DOGE payments for some merchandise in January this year.

Elon Musk

Elon Musk was in the limelight recently due to the Twitter vs Musk row. Twitter has sued Musk for violating the deal to buy the social media platform. Twitter reportedly requested the Delaware court to order Musk to complete the merger at the agreed price of $54.20 per share. Earlier, Musk made a hostile bid to take over Twitter for a $44 billion deal, $54.20 per share.

Musk's lawyers argued the dispute over false and spam accounts on Twitter was important to Musk to complete the deal. 

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