Elon Musk recently engaged in a conversation with Tucker Carlson, during which he expressed his strong support for Donald Trump’s presidential aspirations.
He warned that a loss for Trump in the upcoming election could jeopardize the integrity of democracy in the United States.
Musk shared his personal concerns, indicating that if Trump were to be defeated, he might face serious repercussions, including the possibility of incarceration.
In this discussion, Musk emphasized that Trump’s success is crucial for preserving true democratic processes, asserting that a defeat could signal the end of fair elections in the nation. He also criticized current political maneuvers related to immigration, suggesting they are designed to establish a long-lasting Democratic voter base, which he believes threatens electoral fairness.
Additionally, Musk mentioned the Federal Communications Commission’s (FCC) recent decision to cancel a contract with his satellite internet company, Starlink. He claimed this action was politically motivated and a direct assault on his business, as the contract was intended to deliver services to areas affected by disasters like Hurricane Helene.
Following his criticisms of the government, Musk has intensified his support for Trump, recently appearing at a rally in Butler, Pennsylvania, where he embraced the “Dark MAGA” label. His participation was thought to have energized Trump’s campaign and contributed to a rise in the value of Trump-themed cryptocurrencies.
Meanwhile, Trump’s current lead of 52.6% over Kamala Harris has raised discussions about potential shifts in the cryptocurrency landscape. Should Trump win the election, it could lead to the replacement of SEC Chairman Gary Gensler, with Robinhood’s Chief Legal Officer, Dan Gallagher, being a likely successor. Many in the financial industry view this potential change as a positive move toward more favorable regulations for the crypto sector, and Musk has expressed optimism that Trump’s administration could bring about clearer regulatory frameworks for cryptocurrency companies.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.