Key Takeaways
Justin Sun, Elon Musk publicly endorsed Trump.
Trump’s pro-crypto stance has bolstered his re-election prospects.
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Elon Musk, the CEO of SpaceX and Tesla, and Justin Sun, the founder of the Tron blockchain, released their first public endorsements for Donald Trump in the 2024 US presidential election following a shooting that targeted the former president yesterday.
“I fully endorse President Trump and hope for his rapid recovery,” Musk said in a Saturday post on X (formerly Twitter).
“As the election approaches, I fully endorse President Trump and hope for his speedy recovery,” Sun stated. “He is a better choice for the crypto industry and can ensure fairer treatment.”
The Republican candidate has made headlines over the past few months for his support of Bitcoin and the US crypto industry.
Trump has vowed to end “Joe Biden’s crusade to crush crypto” and to aid the US crypto sector. He also believes the country should be the leader in the field and that there is no second place. As part of his crypto-friendly approach, Trump’s campaign started accepting donations in crypto assets.
Sun previously urged the crypto community to support a pro-crypto presidential candidate; however, he did not name a specific presidential candidate.
“We should support a presidential candidate who endorses cryptocurrencies. We need to demonstrate to the candidate that the cryptocurrency community, companies, and protocols are significant stakeholders whose voices should be heard and whose interests should be protected,” said Sun in an X post in May.
Trump’s newfound pro-crypto position has bolstered his re-election prospects. Following the recent shooting, the odds reached a record high on Polymarket, a decentralized prediction market platform.
According to data from Polymarket, Trump currently has a 70% chance of winning the 2024 election, compared to Biden’s 16%.
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