[Elon Musk’s Tesla lays off 15,000 employees, Bitcoin and Dogecoin fall]
Elon Musk recently announced that he will lay off 15,000 Tesla employees, a move aimed at slashing costs and making the company more efficient. As soon as this news came out, the price of DOGE, a meme coin related to Musk, fell slightly, once again proving Musk's huge influence on the meme coin market.
In addition, Tesla and SpaceX hold more than $1 billion in Bitcoin, and the market reacted sensitively, with both Bitcoin and Dogecoin prices briefly falling.
Musk said in an email to employees that the layoffs were necessary as the company enters its next phase of growth. The move could have an impact on Tesla's reputation and profitability, while also causing a brief negative impact on DOGE and Bitcoin prices.
Despite the challenges, both Bitcoin and DOGE prices have increased over the past 24 hours, with Bitcoin trading at $65,986, up 2.63%, and DOGE up 6.09%, currently trading at $0.1619. This shows that the cryptocurrency market can recover quickly despite the impact of geopolitical events and executive decisions.
