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”.
A well-known crypto analyst believes a major shift could bring a wave of new investors into digital assets.
Toncoin (TON), a layer-1 blockchain project, has secured over $400 million in funding from venture capital firms, according to its development team.
Tether, the issuer behind the popular USDT stablecoin, is reportedly in talks with a top accounting firm to initiate a comprehensive audit of its asset reserves to confirm the 1:1 backing of its tokens.
Germany’s financial regulator, BaFin, has intervened to stop Ethena GmbH, a subsidiary of the Frankfurt-based Ethena Labs, from offering its USD-pegged stablecoin, USDe, to the public.