Billionaire Elon Musk denies advising Donald Trump on Crypto

#Tesla CEO and billionaire #ElonMusk is reportedly advising former President Donald Trump on cryptocurrency to target a new swathe of the electorate, according to Bloomberg.

On social media, however, Musk denied engaging in any discussions with Trump on the subject, taking to social media on Friday to discount Bloomberg’s reporting: “Pretty sure I’ve never discussed crypto with Trump,” Musk said, while adding his support for cryptocurrency in general: “Although I am generally in favor of things that shift power from government to the people, which crypto can do.”

The Bloomberg reporting said Musk was vying for an "advisory role" if Trump succeeds in winning the 2024 election, and cited an unnamed source as the basis for the information.

This week, Trump was convicted on 34 charges related to the falsification of business documents by a New York court

Recently, Trump announced his re-election campaign was accepting donations in cryptocurrency, representing a major attitudinal shift for the former Apprentice star who once decried crypto as a "scam" and “disaster waiting to happen.”

Earlier this year, Musk announced he would not monetarily support either Musk or incumbent President Joe Biden in this year's race. He has been an outspoken critic of Biden's policies related to electric vehicles, immigration, and tariffs, and despite attending a Trump donor event earlier this year, has reiterated that neither candidate has won his support.

In the past, Musk's comments on popular cryptocurrencies like Dogecoin have attracted significant public interest and scrutiny – even inviting litigation. In 2022, multiple Dogecoin investors sued Musk, alleging the billionaire was engaged in insider trading. The investors claimed Musk took part in "transparent cryptocurrency market manipulation” through social media posts related to Dogecoin and an appearance on the late-night comedy show Saturday Night Live.

#donaldtrump #binance