Elon Musk Denies Crypto Talks with Trump

Elon Musk recently denied rumors about discussing cryptocurrencies with Donald Trump on X (formerly Twitter). Speculations also suggested Musk might speak with Trump at the Republican National Convention.

Elon Musk and Donald Trump are discussing cryptocurrency policy 一 Bloomberg pic.twitter.com/hk252omuR2 — DogeDesigner (@cb_doge) May 30, 2024

Musk clarified that he doesn’t remember ever talking about crypto with Trump. He generally supports initiatives that empower individuals over government, which aligns with the potential of cryptocurrency. “Pretty sure I’ve never discussed crypto with Trump,” Musk posted on X, adding that he supports shifting power from the government to the people, which crypto can do. Musk also mentioned he won’t financially support either presidential campaign but plans to host events to discourage wealthy donors from backing Joe Biden.

Regarding rumors of speaking at the Republican National Convention with Trump, there has been no official response. This potential interaction between Musk and Trump is significant for the cryptocurrency market due to their influence on public opinion and regulatory decisions impacting crypto’s adoption and stability.

Separately, The Wall Street Journal reported that Trump might consider an advisory role for Musk if he wins the election. Despite past tensions, they have discussed various policy ideas, including immigration and possibly crypto-related matters. These discussions coincide with Trump’s increased promotion of Bitcoin and other digital assets to connect with new voter demographics.

Reports indicate that Trump holds over $10 million in cryptocurrency assets, and the MAGA token reached a record high of $15.4.

Donald Trump has been convicted on all 34 counts of falsifying business records in a criminal hush-money scheme aimed at influencing the 2016 election’s outcome. The jury reached the verdict in less than 12 hours, marking an unprecedented event as the first criminal trial against a sitting or former US president.

This verdict presents a significant political challenge for Trump, the likely Republican nominee. Although his approval ratings have remained steady amid the trial, they could face volatility soon.

After deliberations, a jury of 12 New Yorkers found Trump guilty of felony falsification of business records, which prohibits creating false entries with the intent to commit another crime. Trump’s sentencing is scheduled for July 11, marking a pivotal moment in his political and legal journey.

Elon Musk’s statements and Trump’s legal troubles create a complex backdrop for the 2024 presidential race. The mix of politics, cryptocurrency, and legal battles will continue to shape public discourse and market dynamics. The potential advisory role for Musk under a Trump administration, despite their past differences, highlights the unpredictable nature of the political landscape.

As Bitcoin’s value continues to rise, its role in political strategies and financial portfolios becomes more prominent. These developments will have lasting impacts on both the crypto market and the broader political environment.