The public dispute between U.S. President Donald Trump and billionaire Elon Musk may go far beyond mutual insults on social media… Maybe, Grok was right.
If you recall, Musk criticized the distribution of the US budget and promised to optimize the cost of maintaining the bureaucracy. Even a separate ministry, DOGE, was created for this purpose. But in May, Musk suddenly admits that the task was too difficult and leaves the White House. At the same time, he publicly called Trump’s budget spending bill «disgusting abomination», claiming that it would increase the US budget deficit to $2.5 trillion and burden citizens with debt. Trump responded that Musk knew about the bill and had no previous problems with it.
Tensions escalated when Trump rejected Musk’s friend Jared Isaacman’s nomination to head NASA, allegedly because of his ties to Democrats. Musk took this as a personal insult. The billionaire said that his financial support and through the X platform were crucial to Trump’s election victory. Trump replied that he would have won the election without Musk.
And then it started. The US president wrote that the country’s budget would save a lot after the withdrawal of government contracts and subsidies to Musk’s companies. And in response, the businessman threatened to decommission the Dragon SpaceX spacecraft.
Later, Musk even added that Trump is being tried in the case of Jeffrey Epstein, who was accused of organizing sexual slavery (including minors) and bribing witnesses.
Max even thought of creating a new political party in the United States that would represent 80% of the middle class.
To top it off, the TRUMP meme team announced launch of the Trump Wallet crypto wallet in partnership with Magic Eden. Trump’s sons said that they had not officially agreed to any applications, and later sent a demand for termination of the company behind TRUMP through World Liberty Financial.
The level of emotion and loud statements reached a peak, so the White House staff had to intervene. They managed to schedule a phone call between Trump and Musk to try to prevent escalation and potential negative consequences.
At the time of writing, the Dogecoin token (DOGE) is trading at $0.1780 (-6.93%), and the market capitalization has dropped to $26.63 billion (-6.92) overnight. Shares of Tesla (TSLA) fell by 14.26%.
The TRUMP memecoin is not doing any better. Over the day, the coin’s value fell to $9.86 (-8.90%), and its market capitalization dropped to $1.97 billion (-8.99%). Shares of Trump Media & Technology Group Corp. (DJT) lost 8.04% of their price.
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