Elon Musk and Trump’s Escalating Crypto Feud
The conflict between Elon Musk and President Donald Trump is heating up. This tech mogul
Elon Musk and Trump Clash Over Contracts and Personal Allegations
Elon Musk and President Trump are locked in a heated dispute. The conflict began when Trump suggested cutting Musk’s government subsidies to save money. Musk called this an “obvious lie” and escalated the argument.
Musk then accused Trump of being in the Epstein files, hinting at a reason for the delay in their public release. He shared a video of Trump and Jeffrey Epstein at a social event, shifting the feud to personal attacks.
Trump didn’t address the Epstein claim. Instead, he focused on the legislation, calling it one of the “Greatest Bills ever.” The White House called Musk’s remarks “unfortunate” but reaffirmed the president’s commitment to the bill.
Musk announced SpaceX would decommission its Dragon spacecraft due to threats of canceled contracts.Investor Bill Ackman urged both sides to cooperate for the country’s benefit. Musk acknowledged this, saying, “You’re not wrong.”
When advised to cool down,Musk agreed,halting the decommissioning plan. The conflict caused uncertainty in financial markets. Tesla shares fell over 15%, and Bitcoin briefly dropped below $101,000.
the crypto market also felt the impact. Ethereum and Solana also saw declines.The Official Trump (TRUMP) token lost nearly 10% in 24 hours.trump’s family office distanced itself from an unauthorized crypto initiative using the Trump name.
Trump’s Crypto Influence Faces Challenges Amid Conflict
Donald Trump’s foray into the crypto world has been bold.In January, the TRUMP token hit a $9 billion market cap shortly after launch, briefly outshining meme coins like PEPE. Though, the token’s value has as plummeted by 85%. Similarly, Melania Trump’s Official Melania Meme (MELANIA) token saw initial success but has now dropped 96%.
Trump’s crypto involvement is unique for a president. He calls himself the “crypto president” and supports ideas like a national Bitcoin reserve.This stance has boosted retail interest and given crypto more political credibility.
But a conflict with Elon Musk could shake things up. If Trump cuts federal subsidies for Musk’s businesses, it could harm SpaceX and Tesla. SpaceX works with NASA and the Pentagon, so contract cuts could delay space missions. Tesla’s loss of electric vehicle tax credits could impact clean energy adoption.
Such moves could also affect the stock market. tesla is a key player in tech indices. If its value drops, it could drag down tech stocks and crypto markets.Bitcoin often follows tech trends, so a tech sell-off could lead to crypto sell-offs too.
for now,these are just possibilities. but if the conflict escalates, it could cause economic shocks and test the limits of power and influence.
