Orange bitcoin Mercedes owner at Davos hits back at critics, says not his car's fault people lost money

DAVOS, Switzerland — The enigma of the orangish bitcoin car, that was archetypal spotted by CNBC connected Monday astatine the Alpine edifice of Davos, Switzerland, has been solved and the proprietor is not impressed with its critics.

The Mercedes, which sports a bitcoin logo successful spot of the car's iconic badge and the words "in crypto we trust" crossed the wheels, was parked extracurricular the Blockchain Hub, a abstraction tally by Casper Labs on the Davos Promenade.

The Promenade is the main thoroughfare successful Davos wherever companies and governments person taken implicit shops and cafes for this week's World Economic Forum — an yearly gathering of concern leaders, celebs and planetary policymakers.

Last year, crypto firms from each walks of life took implicit the place. But since the crypto marketplace descent of 2022, determination are acold less crypto firms with flashy store fronts astatine Davos.

CNBC asked radical successful the vicinity connected Monday whose car it is but cipher saw who parked it. Two crypto executives who spoke to CNBC did not invited the beingness of the car, fixed the adjacent $1.4 trillion wipeout of the marketplace past twelvemonth and the excesses of the manufacture are nether scrutiny.

One exec said that the beingness of specified a car was not adjuvant for the industry's estimation which took a deed past year.

The licence sheet had "Kuna" printed connected it, which is the sanction of a Ukrainian cryptocurrency exchange.

Michael Chobanian, the laminitis of Kuna, confirmed to CNBC successful a connection that the car belongs to him and the crushed helium parked determination was purely retired of convenience.

"The car is determination due to the fact that this is the closest parking spot that I found," Chobanian said.

He besides deed backmost astatine the critics of the car.

"How is the clang related to my property? I americium [in the] crypto and concern manufacture for 10 years. I americium not selling anything, nor promoting. If idiosyncratic made atrocious decisions and mislaid money, it's their responsibility and not my cars," Chobanian said.