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Elon Musk denied studies that he had been advising former President Donald Trump on crypto-related issues however reaffirmed his assist for digital belongings.
The Tesla and SpaceX CEO’s public denial got here in response to studies from Bloomberg and the Wall Avenue Journal that claimed Trump is contemplating Musk for a coverage advisory position if he wins the November election.
Musk mentioned in a social media put up on Might 30:
“Fairly certain I’ve by no means mentioned crypto with Trump, though I’m typically in favor of issues that shift energy from authorities to the folks, which crypto can do.”
The studies recommended that Trump is considering formalizing Musk’s enter on financial and border safety insurance policies in a possible future administration.
Musk has had a big, albeit typically controversial, presence within the crypto world. Tesla’s high-profile buy of Bitcoin and Musk’s frequent endorsements of Dogecoin, together with throughout his look on Saturday Night time Reside, have made him a distinguished determine within the digital asset area.
In the meantime, Trump’s stance on crypto has developed over time. Initially skeptical — even calling it a “rip-off” — he has since embraced digital belongings, significantly by means of his profitable NFT ventures. This shift aligns with a broader pattern of crypto turning into a focus within the 2024 presidential election.
Musk’s reported involvement
Based on the Wall Avenue Journal, Trump and Musk have mentioned formalizing Musk’s affect on coverage, reflecting Musk’s rising alignment with the Republican Occasion.
Musk has additionally been concerned in efforts to dissuade distinguished US enterprise leaders from supporting President Joe Biden, who defeated Trump within the 2020 election and is looking for a second time period.
The talks between Trump and Musk reportedly included billionaire investor Nelson Peltz and discussions about funding a “data-driven challenge to stop voter fraud,” although particulars stay scarce.
Trump marketing campaign spokesperson Brian Hughes emphasised that solely Trump will resolve “what position a person performs in his presidency.”
Representatives for Trump and the Biden marketing campaign have but to make a press release on the matter.
No formal endorsement
In March, Musk said he wouldn’t financially assist both Trump or Biden however supposed to make use of his affect to impress assist in opposition to Biden.
Musk has publicly criticized Biden’s insurance policies on immigration, electrical automobiles, and tariffs, although he has not formally endorsed a candidate for the November election.
The studies mentioned that Musk’s rising affiliation with the Republican Occasion and controversial feedback have affected his standing amongst some shoppers.
Because the election approaches, the intertwining of crypto and politics continues to deepen, with figures like Musk taking part in more and more distinguished roles in shaping the discourse.
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