Elon Musk Responds to Claims of Ties With Putin Amid Support for Trump Campaign; Dogecoin Eyes $1
Key Points:
– Elon Musk addresses reports of alleged secret ties with Russian President Vladimir Putin.
– Musk has donated over $118 million to support Donald Trump’s re-election campaign.
– Dogecoin shows potential for a price rally to $1.
According to a recent report by *The Wall Street Journal*, Elon Musk has been in frequent contact with Russian President Vladimir Putin while actively supporting Donald Trump’s campaign for re-election. Musk reacted to these claims, denying any wrongdoing and suggesting that this is part of a broader effort to discredit Trump’s re-election bid.
Meanwhile, Musk has increased his donations to his political action committee, America PAC, contributing an additional $44 million, raising his total financial support for Trump to over $118 million.
Musk’s Ties With Putin: Allegations and Reactions
The *WSJ* report suggests that Musk has maintained regular communication with Putin, discussing a range of topics, from personal matters to business and global politics. Sources from U.S., Russian, and European officials claim that Putin previously requested Musk not to activate Starlink satellite services over Taiwan as a favor to China. Despite concerns from some officials, no security warnings have been issued so far.
Musk responded to these reports by dismissing them as a politically motivated attempt to attack Trump’s 2024 campaign, noting that he remains a strong supporter of Trump. He hinted that similar strategies, such as the “Trump is Hitler” narrative, had failed to sway public opinion. Musk’s backing could see him play a significant role in a potential future Trump administration.
$118 Million in Donations to Re-elect Trump
Previously reported by *CoinGape*, Musk had remarked, “Putin must not want Trump elected,” during a debate about a $10 million payment from Russia to a U.S. political group. During the BRICS Summit, Putin acknowledged Trump’s remarks on resolving the Russia-Ukraine conflict, saying Trump was sincere in his intentions. Trump and Musk have both advocated for improved U.S.-Russia relations.
Believing the 2024 election to be crucial for America’s future, Musk has continued to funnel millions into America PAC, reaching over $118 million in total contributions aimed at securing Trump’s re-election.
Dogecoin’s Price Momentum and $1 Speculation
Amid these political developments, Dogecoin’s price has sparked investor excitement. Over the past 24 hours, DOGE has seen a surge, currently trading at $0.1386. The rally appears to be supported by major holders maintaining their positions, as observed by *CoinGape*.
The notion of a “Department of Government Efficiency (DOGE)” proposed by Musk and the possibility of him holding a key role in Trump’s future cabinet have fueled speculation that Dogecoin could reach $1 if Trump wins the election.
Despite a 2% drop in total DOGE futures within the past day due to crypto expiry, data from Coinglass shows a rising trend in total DOGE futures open interest, amounting to 6.74 billion DOGE, worth approximately $931.79 million.
