Elon Musk Advised Trump on Crypto Policy, Bloomberg Reports

IconCryptoNewsTerminal Staff30 May, 2024

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Elon Musk Advised Trump on Crypto Policy, Bloomberg Reports

Elon Musk, the CEO of Tesla and SpaceX, played a role in advising former U.S. President Donald Trump on cryptocurrency policy, according to a report by Bloomberg. Citing people familiar with the matter, Bloomberg reported that "Trump has increasingly highlighted bitcoin and other digital assets in his campaign speeches as he seeks to energize new voters." In that context, the Trump camp has discussed inviting Musk to speak at the Republican National Convention, though no final decision has been made. According to the sources, "there have been fairly frequent meetings between the Trump and Musk camps in recent months as they sought insights on cryptocurrencies." Musk has been an outspoken advocate for cryptocurrency, and he has repeatedly expressed his belief that digital currencies have the potential to revolutionize the financial system. He has also been critical of the SEC's approach to regulating cryptocurrency, which he believes is too heavy-handed.

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