⚠️ EU vs. Musk: Commission Warns Elon Over Trump Interview

Author

CoinGape Media
August 13, 2024

News

During the recent Donald Trump interview, Elon Musk proposed "government efficiency commission" thereby eyeing a role in the White House.

The much-awaited Elon Musk Donald Trump interview happened on Monday, where the two discussed almost everything inflation, trade, nuclear, power, and education, however, chose to give Bitcoin and crypto a miss. The hopes from the crypto community were high as both – Musk and Trump – are close to the crypto industry.

BlackRock Bitcoin ETF IBIT is already the third-largest BTC holders within six months of launch. It can overtake Satoshi's 1.1M BTC holdings.

The world’s largest asset manager BlackRock has had a successful stint with the launch of the spot Bitcoin ETFs this year while becoming the largest BTC fund available in the market. If the accumulation continues at this pace going ahead, BlackRock’s IBIT can overtake Bitcoin founder Satoshi Nakamoto’s BTC holdings in a year’s time from now.

Following a recent interview with Republican Donald Trump, Elon Musk today welcomed Democratic Kamala Harris for an interview on X spaces despite her slamming remarks.

Elon Musk has once again garnered noteworthy attention with his recent statements amid the ongoing U.S. presidential elections. Today, the Tesla and SpaceX CEO took to X, inviting the Democratic Party presidential candidate Kamala Harris for an interview on X spaces. Following a recent interview with her rival, Donald Trump, this statement has gained significant traction nationwide, emerging in the background of the ongoing U.S. presidential campaigns.

Meanwhile, in the aftermath of the Trump interview, Harris slammed the two by stating, “Trump’s entire campaign is in service of people like Elon Musk and himself – self-obsessed rich guys who will sell out the middle class and who cannot run a livestream in the year 2024.”

Markets

Bitcoin gains to $59K with inflows in BTC ETFs. ETH and XRP traded in the green territory, although SOL faced market turbulence.

The crypto prices today have regained a considerable upward momentum, sparking investor enthusiasm globally. Bitcoin’s (BTC) price jumped to the $59K level over the past day, whereas Ethereum (ETH) and XRP traded in the green territory. The broader market saw some altcoins soar as high as 20%, although Solana (SOL) encountered turbulence.

Meanwhile, the global crypto market cap surged by 2.21% to $2.1 trillion today. Further, the total crypto market volume saw a 39.98% rise in value to $82.82 billion.

Here’s a collection of some of the highest-ranking cryptocurrencies by market cap and their price movements today, August 13.

Ethereum sees strong 4% gains in a short cover rally before CPI inflation data release. Will ETH stage turnaround supported by macro events?

Bitcoin and the broader cryptocurrency market have bounced back again with the BTC price moving closer to $60,000 as the US CPI inflation data for July comes out ahead this week on August 15. With altcoins more prone to macro events, Ethereum and other altcoins have staged even stronger rallies gaining over 4%.

The latest Labor Department data showed that the US PPI inflation for July cools to 2.2% from 2.7% in the prior month, fueling optimism over a crypto market recovery.

The global financial market, let alone the crypto market, was eagerly waiting for the US Producer Price Index (PPI) data for cues on inflation. The latest data showed that the US PPI inflation cooled to 2.2% in July, from 2.7% in the prior month. This data, which also came in line with the market expectations, appears to have further fueled optimism over a potential rate cut by the US Federal Reserve at their upcoming meeting.