US Treasury Secretary Scott Bessent criticized Elon Musk and his political initiatives on live television, questioning Musk's popularity and suggesting that he should focus on business.
Bessent’s comments highlight the tension between key political and tech figures. While there’s no immediate financial impact, the political clash underscores the potential for increased regulatory scrutiny.
Scott Bessent criticized Elon Musk on live television, calling him unpopular and questioning his political ambitions. In response, Musk declared the "American Party," aiming for independence in legislative conversations.
Elon Musk noted, "Legislative discussions will be held with both parties." No formal application has been filed with the party, despite Musk's heavy promotion on X.
Musk’s political tour attracted significant attention, but no volatility was observed in the stock or cryptocurrency markets. US financial markets remained unaffected despite Musk’s history of influencing asset prices with his social media activities.
The crypto market, especially BTC and DOGE, remains unaffected by this political discourse. Financial and regulatory implications are currently non-existent, with analysts adopting a wait-and-see approach.
Regulators like the SEC and public figures have remained silent on the events, and historical trends suggest that Musk’s political efforts may follow the pattern of previous tech figures without having a significant immediate impact on the market.
Most Americans think he's a failure... He's simply not popular enough to make a political movement and should focus instead on running his companies.