🚨 Trump Eyes Elon for Cabinet Role: The Ultimate Power Duo? 🚨

Author

CoinGape Media
August 20, 2024

News

Donald Trump plans to offer Elon Musk a cabinet role if elected, while also considering ending a $7,500 EV tax credit.

Donald Trump is reportedly willing to offer the Tesla CEO, Elon Musk a position in his cabinet or advisory team if he is elected president. In an interview with Reuters, Trump highly appreciated Musk’s management at Tesla and his advanced technologies and innovations.

VanEck says that Bitcoin miners have a huge value unlocking by leveraging the AI energy demands and improving their balance sheets ahead.

Bitcoin Miners faced a rough phase with the Bitcoin halving event in April this year. However, the rise of the artificial intelligence (AI) market could be a major game-changer for the Bitcoin mining industry, says VanEck head of Digital Assets Matthew Sigel.

Custodia Bank CEO Caitlin Long believes SEC Chair Gary Gensler was himself the source of the recent Treasury Secretary appointment rumors.

Rumors swirling about SEC Chair Gary Gensler potentially becoming Treasury Secretary if Kamala Harris wins the 2024 presidential election have stirred significant debate within the crypto industry. However, Custodia Bank CEO Caitlin Long debunked these claims. Moreover, she believes that Gensler himself is the source of these rumors.

Markets

ETH, SOL, and XRP gain 1%-7% today, whereas BTC saw a rising trajectory amid ETF inflows and massive buying.

The crypto prices today have ignited significant investor optimism across the globe, embarking upon a bullish momentum. Bitcoin (BTC) price topped the $60K mark, whereas Ethereum, Solana, and XRP entered into the green territory. Simultaneously, Neo & Aave emerged among the day’s top gainers.

Moreover, the global crypto market cap saw a 2.69% increase to $2.14 trillion. Additionally, the total crypto market volume saw a 27.88% rise to $61.72 billion.

Here’s a closer look at some of the leading cryptocurrencies by market cap and their price movements today, August 20.

Bitcoin options block trading calls have resumed with most traders selling the call options and buying put options. BTC price action on watch

After a long period of dormancy, the Bitcoin options block trading has seen a significant resurgence clocking notable activity to more than $500 million in notional value. The recent trading activity suggests that traders have turned more bearish despite the Bitcoin (BTC) price attempting a reversal surging past $61,000 as of press time.

Dogecoin price soared nearly 6% today as Elon Musk agreed to Donald Trump's cabinet offer, reacting 'DOGE' to it.

The dog-themed meme token Dogecoin’s price soared nearly 6% today as Tesla & SpaceX CEO Elon Musk reacted DOGE to Donald Trump’s offer for a cabinet role if elected. Today, the American entrepreneur took to X, showcasing his readiness for the proposed offer, which he also named DOGE (Department of Government Efficiency).

This event unfolds in the aftermath of the Republican’s recent statements, which hinted at plans to tap Musk for a cabinet role. Dogecoin price soared nearly 6% today, fueling enthusiasm in tandem with the Tesla CEO’s comments.