Florida Gov. Ron DeSantis (R) cautioned Elon Musk on Monday against the formation of a new third party, the America Party. DeSantis warned that the new party could increase Democrats’ chances of winning elections and hurt Musk’s political priorities.

Elon Musk slammed the dollar on social media, calling it and other fiat money “hopeless.” His America Party will embrace crypto, he says. That could set up another area of contention with Donald Trump, who was his political ally for many months before and after the November election.

From independent presidential bids to third-parties, several prominent businessmen have tried to upend America's two-party system in recent decades.