Elon Musk Slams WSJ Over “False” CEO Exit Rumors – Crypto Leaders Rally

Elon Musk isn’t holding back. The Tesla CEO has blasted The Wall Street Journal (WSJ) for publishing what he called a “deliberately false” article claiming Tesla’s board is looking to replace him as CEO.

In a fiery post on X, Musk called it an “EXTREMELY SERIOUS ETHICS VIOLATION,” accusing WSJ of ignoring a direct denial from Tesla’s board. The report suggested that concerns over Musk’s political involvement and divided attention across his ventures pushed the board to seek a new CEO.

Tesla’s board chair, Robyn Denholm, didn’t waste time firing back. Posting from Tesla’s official X account, she stated clearly that the board has not contacted any recruiters and fully supports Musk’s leadership.

Why Is This Report Coming Out Now?

The WSJ report dropped just as Musk faces fresh criticism over his political ties – specifically his advisory role in Donald Trump’s Department of Government Efficiency (DOGE).

Critics argue that Musk’s involvement in the Trump administration has hurt Tesla’s image, especially in international markets.

Meanwhile, Tesla’s Q1 numbers haven’t helped the narrative:

• Profits dropped 71% in the first quarter
• Market value fell by over $800 billion since the start of the year

Tesla Stays Bullish on Bitcoin

Despite the rocky earnings, Tesla didn’t sell its Bitcoin. The company’s crypto holdings dropped from $1.076 billion to $951 million in Q1 2025, right in line with Bitcoin’s 11.56% price dip to $82,514.

Also Read: How Elon Musk’s Tesla and Bitcoin Investments are Dominating Global Markets

Crypto Leaders Join the Backlash

Musk isn’t the only one calling out WSJ. Big names in crypto have been doing the same.

On April 12, Binance’s former CEO, Changpeng Zhao (CZ), slammed a WSJ report that claimed he agreed to testify against Tron’s Justin Sun as part of a DOJ deal.

“WSJ is really TRYING here. They seem to have forgotten who went to prison and who didn’t,” Zhao wrote in an April 12 X post. “People who become gov witnesses don’t go to prison. They are protected. I heard someone paid WSJ employees to smear me.”

And this isn’t new. Back in March 2023, Tether also rejected a WSJ article accusing it of using fake documents and shell companies to keep banking access. Tether called the claims “stale,” “inaccurate,” and “misleading.”

It’s Bigger Than Just Elon

This goes beyond one headline. Musk and major crypto players are pushing back hard against what they say is biased, agenda-driven reporting by legacy financial media.

With Musk now balancing Tesla, SpaceX, Neuralink, and the recently merged X and xAI – while advising DOGE remotely – there’s more scrutiny than ever.

But for now, the message from Tesla’s board is crystal clear: Musk is still in charge.