Looks like those hfunds are pumping and dumping for some more profit.
Dont you find it funny that China of all places banned Crypto? We can believe it was to protect its citizens from those scams as claimed.
However, given how import of a tool it is to the CIA, i'd say its more to do with that. Crypto depends on hype and market manipulation just like Tesla did to get to where it got to. Since the hype has faded so too has Teslas stock and now vehicle sales. However unlike crypto, Tesla does have the sales of vehicles to fall back on preventing the same dump effect. Again, Teslas sales of vehicles were inflated by hype around FSD/robotaxi and the increasing stockprice which allowed alot of investors to buy Teslas with their gains. Cyclical feedback. Tesla would likely be bankrupt had it not been for that massive hype pump that made so many people alot of money. Hell the entire EV industry wouldnt be what it is without it.
US intelligence will not want Crypto banned as it uses the tech for operations including surveillance. Just like its drug running days, you know the CIA is making money off crypto too.
In regards to Tesla being a bigger scam than Theranos, it comes do to this:
What constitutes a fake it until you make it scam?
Is that not exactly what Elon Musk did when he made a series of promises 8 years ago that helped Tesla drive its valuation, sell more vehicles, and net him billions in gains via his enormous share count? This scheme was so successful that sales grew in part because a lot of people invested in TSLA, used their gains to buy 1 or more of Teslas vehicles; some of which then sold them for profit on the secondary market because of all the hype around Tesla coupled with shortage in supply. Without said fake it until you make it scam, Tesla and the greater EV market would likely be on its last breath; at least in the US and Europe.