Elon Musk discusses cryptocurrency policy with Donald Trump
Musk accused Democrats of importing undocumented immigrants for voting purposes and called President Biden a traitor
Musk plans to galvanize business elite against Biden's policies instead of spending money on campaign
Trump's stance on cryptocurrencies evolves, pledges support for Bitcoin and self-custody rights
Elon Musk, the CEO of Tesla and SpaceX, has been in discussions with former President Donald Trump regarding cryptocurrency policy and a potential advisory role for himself if Trump wins back the White House in November. These talks come as Trump increasingly embraces cryptocurrencies on his campaign trail.
Trump's stance on cryptocurrencies has evolved significantly since 2021 when he expressed little interest in the asset class. In contrast, he now pledges his support for Bitcoin and other digital assets while promising to protect the rights of self-custody for American crypto holders. The discussions between Musk and Trump also come amid ongoing debates about the potential creation of a central bank digital currency (CBDC) by the Federal Reserve.
Musk's involvement in politics extends beyond his talks with Trump. He has been leveraging his ownership of X, the de facto town square, to spread conspiracy theories about Democrats and their alleged intentions to import undocumented immigrants for voting purposes. Musk has also accused President Biden of treason and claimed that the US will become a permanent one-party deep socialist state if Democrats win control of the White House and Congress in November.
Despite his political engagement, Musk has yet to spend significant amounts of money on defeating Biden. Instead, he plans to galvanize America's business elite through dinner parties and salon-style gatherings to oppose Biden's policies.
Elon Musk discussed an advisory role for himself if Donald Trump wins back the White House.
Musk and Trump's rhetorical alignment goes beyond mutual distaste for President Biden's policies and the 'woke' left.
Accuracy
Elon Musk is reportedly exploring the possibility of becoming an adviser to Donald Trump in a potential 2024 presidency.
Musk has discussed this role with Trump via cellphone.
It's unclear who initiated the conversations about the potential role.
Musk served on two business advisory councils in the previous Trump administration before quitting over the Paris climate agreement.
Musk's politics have become more aligned with Trump’s in recent times.
Musk has publicly opposed Covid-19 lockdowns and embraced anti-vaccine ideology.
He has elevated conservative speech on X, the platform formerly known as Twitter that he purchased in 2022.
Musk has pushed racist conspiracy theories about immigration and warned of the country’s impending ‘doom’ if a ‘red wave’ does not materialize in November.
Musk's various businesses, most notably SpaceX and Tesla, benefit from direct government contracts and federal subsidies.
Deception
(70%)
The article discusses Elon Musk's reported exploration of becoming an adviser to Donald Trump, which would be a conflict of interest given his various businesses that depend on government support. The article also highlights Musk's increasingly aligned politics with Trump and his extreme rhetoric on social issues. Additionally, the article mentions how Musk has used his ownership of Twitter (now known as X) to amplify fringe conspiracy theories and elevate right-leaning political candidates.
Citing a baseless claim about the attack on Paul Pelosi, the anti-Hillary Clinton conspiracy theory known as 'Pizzagate', and an antisemitic conspiracy theory often espoused by hate groups (the latter of which Musk later apologized for).
Fallacies
(75%)
The article contains several informal fallacies and appeals to authority. The authors make assumptions about Musk's motivations for wanting to advise Trump without providing concrete evidence. They also use inflammatory language when describing Musk's political views and actions on Twitter, implying that they are extreme or problematic without explicitly stating why. Additionally, the article quotes Darrell West making an argument against Musk having a direct line to Trump due to potential conflicts of interest, which is an appeal to authority fallacy if taken at face value.
Musk has discussed advising Trump should he win the 2024 election, the Journal reported, citing unnamed sources.
“President Trump will be the only voice of what role an individual plays in his presidency.”
“It destroys the rule of law if a businessperson can cut a deal with a president to protect his own business interests.”
Bias
(5%)
The authors of the article express their opinion that Elon Musk's views and actions have become more aligned with those of Donald Trump. They also suggest that a potential role for Musk in a future Trump administration could be problematic due to conflicts of interest and the influence it could give him. The authors do not directly quote Musk or Trump making biased statements, but their language implies bias towards viewing both individuals negatively.
It destroys the rule of law if a businessperson can cut a deal with a president to protect his own business interests.
Many of Musk’s changes to X have also contributed to a rightward shift in the platform’s culture.
The privilege of whispering in Trump’s ear, should he win reelection, could give the billionaire even more power on the global stage.
Elon Musk and former President Trump have been speaking several times a month since March.
Musk has discussed an advisory role for himself if Trump wins back the White House.
Accuracy
Musk has accused Biden of ‘treason’ and claimed that the US will become a permanent one-party deep socialist state if Democrats win control of the White House and Congress in November.
Deception
(30%)
The article makes several deceptive statements and uses emotional manipulation and sensationalism to engage readers. Musk's 'heightened political engagement' is described as a 'civilizational threat', implying that it is something negative when it is not clear what the author means by this. The author also implies that Musk's political views are new, when in fact he has publicly expressed them before. Additionally, the article uses sensational language such as 'unrivaled political power' and 'de facto town square', which is intended to grab readers' attention and create a sense of urgency.
Musk is arguably the most important business player in modern American politics.
He has the power to sway or repel voters
With more than 60 posts about Trump and Biden this year, Musk has brought an open ideological tilt to X that few social media executives would dare replicate
What remains less clear is how much of Musk’s heightened political engagement is driven by business interests vs. a deep-rooted ideology.
Fallacies
(85%)
The author makes several implicit assumptions and uses inflammatory language in the article. Musk's political power is being attributed to his control of a massive social media platform, personal wealth, and Trump's ear. The author also states that Musk has 'leveraged his ownership of the X platform to spread conspiracy theories about Democrats.' This is an appeal to authority fallacy as the author assumes that because Musk owns Twitter, his statements are true or valid. Additionally, the author uses inflammatory language by calling Biden's policies 'excesses of the
][The author] Elon Musk has three essential ingredients to unrivaled political power among CEOs: control of a massive social media platform, astonishing personal wealth “[[/] [
Bias
(75%)
The author, Zachary Basu, demonstrates a clear ideological bias towards Elon Musk and his political alignment with former President Trump. The author describes Musk's 'essential ingredients to unrivaled political power among CEOs: control of a massive social media platform, astonishing personal wealth, and now former President Trump’s open and willing ear.' This language implies that the author views Musk's relationship with Trump as a positive thing. Additionally, the author states that Musk 'has made no secret about his views on the state of American politics – even without explicitly endorsing a candidate for president.' This statement suggests that the author approves of Musk's political stance and ideology. The author also uses loaded language when describing Biden's policies as 'excesses of the
> Elon Musk has three essential ingredients to unrivaled political power among CEOs: control of a massive social media platform, astonishing personal wealth <
> He has the power to sway or repel voters – and stands ready to win or lose big, given his companies’ deep ties to government. <
> Musk and Trump’s rhetorical alignment has moved beyond mutual distaste for President Biden’s policies and the excesses of the “woke” left, which Musk cited in 2022 when he voted Republican for the first time. Today, Musk leverages his ownership of the X platform to spread conspiracy theories about Democrats intentionally “importing” millions of undocumented immigrants to vote in elections. <
> With Trump – who has vowed to dismantle Biden’s electric vehicle policies and escalate his trade war with China, one of Tesla’s top markets – Musk’s priority is likely a détente with hostile U.S. regulators.
Presidential candidate Donald Trump has changed his stance on cryptocurrency from wanting little to do with it in 2021 to pledging his support for the asset class in 2024.
Trump also promised to support the right to self-custody for the nation’s 50 million crypto holders and vowed never to allow the creation of a central bank digital currency.
There have been discussions of the Federal Reserve implementing a central bank digital currency (CBDC), which could streamline and optimize some processes, but some Republicans argue that it would lead to surveilling Americans and controlling their behavior.
Accuracy
Elon Musk is reportedly exploring the possibility of becoming an adviser to Donald Trump in a potential 2024 presidency.
Elon Musk and Donald Trump have been speaking several times a month since March.
