After Joe Biden announced his withdrawal from the 2024 US presidential race, billionaire Elon Musk changed his X profile picture.
The controversial billionaire changed his profile picture to laser eyes right after the news about Biden. He is a known supporter of Trump and must be happy with the democrat’s representative’s withdrawal from the presidential race.
A few days ago MAGA’s price surged by 20% after a Musk tweet. The Trump-related altcoin is currently trading at $7.2 after a 1% price increase in the past 24 hours.
Another similar surge could occur, since Musk’s influence in the crypto space is significant. Historically with his tweets he has sparked price rallys in many coins.
Although this move by Musk (changing his profile pic), might not be related to crypto, his influence can change the price trend of the market.
This is especially true for meme coins, as Elon Musk is known as “The Meme Lord”.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.
Ethereum co-founder Vitalik Buterin has voiced concerns over the rise of zero-knowledge (ZK) digital identity projects, specifically warning that systems like World — formerly Worldcoin and backed by OpenAI’s Sam Altman — could undermine pseudonymity in the digital world.
A new report by the European Central Bank (ECB) reveals that digital payment methods continue to gain ground across the euro area, though cash remains a vital part of the consumer payment landscape — particularly for small-value transactions and person-to-person (P2P) payments.
Geopolitical conflict rattles markets, but history shows panic selling crypto in response is usually the wrong move.