Dogecoin fan Elon Musk is in regular contact with Russian President Vladimir Putin, who continues to campaign for Donald Trump, The Wall Street Journal reported on Friday. Musk responded to the report, but is not an apologist as he has been in the crosshairs of the US and Russia.
Meanwhile, Musk donated another $44 million to his political action committee America, bringing total donations to more than $118 million.
Dogecoin fan Elon Musk reacts to relationship with President Putin
Tesla CEO Elon Musk is in regular communication with Russian President Vladimir Putin. The WSJ reported on Oct. 25 that the two sides discussed a wide range of topics, including personal issues, business and geopolitics, citing current and former U.S., Russian and European officials.
For example, Putin previously asked Musk not to launch Starlink satellite internet service over Taiwan as a favor to China. SpaceX, which operates Starlink, has billions of dollars worth of deals with the U.S. military and intelligence agencies, and Musk was given security clearance to keep some classified information private. Although there are no red flags yet, some officials have expressed concern.
Elon Musk mocked reports about Putin, suggesting it was another attack on Donald Trump’s re-election campaign after his “Trump is Hitler” claim failed. Musk is currently a key supporter of Trump’s 2024 campaign and could play a key role in a future Trump administration.
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ā Elon Musk (@elonmusk) October 25, 2024
Musk donates more than $118 million to Trump’s re-election campaign
As previously reported by CoinGape, Elon Musk said, “I’m sure President Putin doesn’t want Trump elected.” The statement came amid a heated debate over $10 million in payments reportedly made by Russia to political party-affiliated companies. Interestingly, President Putin suggested that his support for Kamala Harris was due to US President Joe Biden’s support for her.
Meanwhile, President Trump has promised to end the Russia-Ukraine war. President Putin welcomed the remarks made at the BRICS summit, calling them “sincere.” Trump and Musk earlier called for improved relations with Russia.
Elon Musk believes this election is extremely important for the United States. He donated an additional $44 million to the pro-Donald Trump group America PAC, according to the Federal Election Commission. This brings his total donations through the Trump re-election PAC to more than $118 million.
DOGE price could rise to $1
Amid these developments, the price of Dogecoin today caused a frenzy among investors. The DOGE price chart has seen significant upward momentum over the past 24 hours and is currently trading at $0.1386. As reported by CoinGape, the coin is seen rising as whales are holding onto DOGE.
The Department of Government Efficiency (DOGE) proposal and President Trump’s promise to offer Musk a key Cabinet post are fueling DOGE’s $1 sentiment. If Trump wins the US presidential election, Dogecoin’s price is expected to rise significantly.
In the derivatives market, total DOGE futures fell by 2% in less than 24 hours as traders exited due to the expiry of the cryptocurrency. According to Coinglass data, the total DOGE futures OI rose further, with 6.74 billion DOGE now worth $931.79 million.
Source: Coinglass
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Varinder Singh
Varinder has 10 years of experience in fintech, with over 5 years dedicated to blockchain, cryptocurrency and Web3 development. A technology enthusiast and analytical thinker, he has shared his knowledge about disruptive technologies in over 5,000 news, articles, and papers. Together with CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He currently covers all the latest information and developments in the cryptocurrency industry.
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