Elon Musk Refutes Crypto Polices Talks With Trump

Elon Musk has denied talks with former U.S. President Donald Trump on possible cryptocurrency regulations. This comes after reports of both parties holding discussions on the subject ahead of the country’s election. Although no talks were held, Musk noted that he favors the power shift crypto can achieve. Decentralized finance (DeFi) aims to cut off centralized intermediaries in finance giving power directly to users. 

Trump and Musk Reportedly Discuss Crypto

Bloomberg reported that Donald Trump has turned to billionaire Elon Musk for several reasons, including a crypto framework. This comes after Trump made some positive crypto comments in his campaigns in an attempt to court pro-digital asset voters. 

Elon Musk has denied this although expressing positive sentiments for the power shift the technology can achieve.

Elon Musk and Donald Trump are discussing cryptocurrency policy 一 Bloomberg pic.twitter.com/hk252omuR2

— DogeDesigner (@cb_doge) May 30, 2024

Elon Musk has become an influential figure in the digital asset ecosystem after tweets on several assets including Dogecoin (DOGE) and a popular appearance on Saturday Night Live in 2021. His acquisition of Twitter also rallied crypto users projecting a possible integration with digital assets. Apart from Musk, crypto executives have made efforts towards a broader crypto framework.

According to the report, citing sources familiar with the matter, Trump’s campaign is also exploring the possibility of Musk speaking at the Republican convention. This points to the influence the billionaire has garnered in Washington over the years. While it is unknown what the speech will be based on, if he agrees, users speculate a possible crypto mention ahead of the elections

Around social media spaces, recent events have sparked a buzz among crypto users as the industry now gets more support before the elections. Recently, the FIT21 bill was passed by the House of Representatives. 

Wider Musk Consultations

Both parties are reportedly holding talks on Musk holding an advisory role should Trump get election in November for a second term. Discussions between both parties have increased as the election approaches.

Particularly Elon Musk has held talks with Trump’s allies concerning electric vehicles and space programs. Musk is the CEO of electric vehicle manufacturers, Tesla and SpaceX.

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