Elon Musk has announced his support for Donald Trump following the assassination attempt on the former US president. The billionaire plans to fund his presidential campaign with $45 million per month.
Elon Musk to support Donald Trump's election campaign
A powerful ally for Donald Trump. The former president of the United States, campaigning for re-election, has just obtained colossal financial support from Elon Musk.. The CEO of Tesla has indeed first reacted to the assassination attempt which targeted the Republican candidate, announcing his full support:
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
And this support goes beyond words. According to a report from the Wall Street Journal, Elon Musk plans to donate $45 million per month to ex-president's campaignThe funds will go to a “Super PAC,” a political action committee that acts as a lobbying group.
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Since 2010, US Super PACs have no limits on donations, as they are supposed to be independent of political parties. In fact, they are unofficially affiliated with: This is what would allow Elon Musk to make such large donations to the Republican candidate.
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Cryptocurrency world leaning towards Donald Trump?
The Elon Musk-backed Super PAC aims to get voters out to vote in November's election. He has already been supported by other big names in tech and cryptocurrencies.including the Winklevoss brothers, who run the Gemini trading platform. Elon Musk, however, reportedly did not participate until recent days, having apparently decided to contribute following the attempted assassination of Donald Trump.
The Republican candidate has found clear support from some cryptocurrency playersthanks to a very “pro-crypto” positioning in recent months. Among his supporters, we find for example Jesse Powell. The founder of the Kraken exchange platform recently donated $ 1 million to Donald Trump.
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Other notable endorsers include Messari CEO Ryan Selkis and Bitcoin Magazine editor David Bailey. Cryptocurrency is therefore more than ever a political issue in the United States..
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Source: Wall Street Journal
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A journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance, analyzing how news from this sector influences the cryptocurrency sector, offering a unique and informed perspective to Cryptoast readers.
Marine Debelloir
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