4 months ago
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Musk's potential advisory role could boost even more a potential crypto-friendly regime.
Donald Trump is considering Elon Musk as his policy adviser in case he wins the US presidential run this year, as reported by The Wall Street Journal. This means that Musk could be an adviser on economic and border security issues, given the tech mogul’s potential to exert “formal input and influence” in these domains.
According to the Journal, Musk has been actively engaging in an influence campaign to dissuade prominent US business figures from backing current Democratic President Joe Biden.
Notably, Musk and Trump are two figures with back-and-forths when it comes to crypto, although the outcome seems to be positive recently. Despite his criticism against Bitcoin in 2021, Musk recently doubled down on Dogecoin (DOGE) being his favorite crypto during a Wall Street Journal conference.
Meanwhile, Trump has been proactively pro-crypto recently, vowing to end hostility against the digital asset landscape in the US if elected, and stating that he is “very positive and open-minded” to crypto companies, advocates for US leadership in the crypto industry. Moreover, the presidential candidate started accepting donations paid in crypto for his campaign.
In tandem with billionaire investor Nelson Peltz, Musk has also explored the possibility of backing a “data-driven project to prevent voter fraud,” though specifics remain undisclosed.
While representatives for Trump and Musk have yet to comment, Trump campaign spokesperson Brian Hughes emphasized that advisory roles in Trump’s presidency are solely at the discretion of Trump himself.
Furthermore, Musk has been vocal in his criticism of Biden’s policies but has stopped short of formally endorsing any candidate for the upcoming November election. Yet, the CEO of Tesla and X seems to have recently aligned more closely with the Republican Party.
Despite Musk’s assertion in March that he would refrain from political donations, his political maneuvers have not gone unnoticed. His controversial statements and endorsements on social media platform X have sparked debate and affected his public image, as evidenced by a CivicScience survey.
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