Antonio Gracias, a board member of Tesla and SpaceX, and founder of the investment firm Valor, is connected to two cryptocurrency companies. The Telegraph reports this.
Gracias sits on the audit committee that approved the automaker’s Bitcoin investment of $1.5 billion. According to reports, the board member is a director of custody service BitGo and the cryptocurrency-derivatives exchange ErisX.
The executive also invested in Harbor, a platform for issuing security tokens. BitGo acquired it in February 2020.
The publication does not indicate whether Gracias voted to alter Tesla’s investment policy. However, interviewed experts acknowledged a potential conflict-of-interest risk.
“We need to determine whether he is acting in good faith. It is precisely because of the lack of transparency that people begin to doubt your ethics,” said Bill Klepper, professor of management at Columbia Business School.
Earlier, former OCC head Brian Brooks described Tesla’s investments in Bitcoin as exhilarating and frightening at the same time.
Gary Black sold Tesla shares due to its decision to invest in the first cryptocurrency.
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