On August 12, Tesla CEO Elon Musk conducted an interview with U.S. presidential candidate Donald Trump on X Space, attracting over one million listeners. However, the absence of any discussion about cryptocurrencies during the conversation left many in the Crypto Twitter community disappointed.
No Mention of Cryptocurrencies
The crypto community had been eagerly anticipating the discussion between Musk and Trump, with platforms like Polymarket seeing substantial betting activity on whether Trump would mention “crypto” or “Bitcoin.” The bets on Trump mentioning crypto reached $858,754, while those on Bitcoin totaled $481,374.
Despite this anticipation, the conversation veered towards topics like illegal immigration, the economy, artificial intelligence, and climate change, with no mention of cryptocurrencies. This omission suggests a cautious approach from Trump, similar to his stance during the first U.S. presidential debate in June, which also avoided the topic of crypto.
Trump-Themed Meme Coins Experience Sharp Decline
Before the X Space discussion, several Trump-themed meme coins saw a surge in prices. For instance, MAGA Hat (MAGA) spiked nearly 50%, Doland Tremp (TREMP) rose 13%, and MAGA (TRUMP) gained almost 4%. However, immediately after the discussion, these meme coins plummeted, with MAGA dropping 24% to $0.0005, TREMP falling 15% to $0.16, and TRUMP declining 27% to $3.16.
This sharp decline seems to reflect the crypto community’s disappointment, with many users on X expressing frustration over spending nearly three hours listening to the discussion without any mention of crypto or Bitcoin.
While Trump has previously voiced support for Bitcoin and gained backing from some in the crypto industry, the emergence of U.S. Vice President Kamala Harris as a new presidential candidate is starting to draw attention. As of this writing, a Polymarket poll shows Harris leading the race with a 52% chance of winning the upcoming U.S. presidential election, compared to Trump’s 46% chance.
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