🔥 The Breaking Point
On May 24, 2025, Donald Trump abruptly severed ties with Elon Musk after the Tesla CEO publicly torched Trump’s proposed 15% corporate tax hike, calling it “**economically illiterate**” in a Spaces interview. Musk’s rant accused Trump of “punishing innovators to fund swamp politics,” triggering an immediate fallout from Mar-a-Lago.
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🤝 From Allies to Adversaries
The Backstory:
- 2022–2024: Musk endorsed Trump’s 2024 campaign, hosted fundraisers, and backed his pro-crypto stance.
- Shared Goals: Both pushed for U.S. Bitcoin mining dominance and lighter crypto regulations.
- The Betrayal: Trump saw Musk’s tax criticism as a “stab in the back” amid tight election polls.
Trump’s Response:
> “Elon’s a genius but doesn’t understand Main Street. America First means corporations pay their fair share.”
> — Trump campaign statement, May 24
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📉 Market & Political Fallout
1. Crypto Uncertainty:
- Musk’s pro-Bitcoin tweets previously moved markets; his diminished Trump ties may weaken pro-crypto policy momentum.
- $BTC dipped 2.3% on news; Tesla ($TSLA) fell 1.8% pre-market.
2. 2024 Election Shakeup:
- Musk shifts support to Libertarian candidate Lars Mapstead, a crypto hardliner.
- Trump doubles down on “taxing elites” rhetoric to woo blue-collar voters.
3. X’s Future:
- Trump’s Truth Social to ban cross-posting from X (formerly Twitter), cutting Musk’s reach.
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💡 Why This Matters
- Policy Split: Trump’s tax plan targets corporations; Musk’s vision relies on tech subsidies.
- Crypto Divide: Both support crypto, but Trump’s alliance with anti-crypto senators (e.g., Warren) strains relations.
- Power Play: Musk’s net worth ($220B) vs. Trump’s political machine — a clash of influence titans.
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🚨 What’s Next?
- Musk’s Move: Hosting a “Tech Freedom Summit” in Austin (June 10) with crypto leaders.
- Trump’s Counter: Drafting executive orders to fast-track U.S. Bitcoin mining if elected.
- For Investors: Watch for regulatory uncertainty shaking crypto volatility.
> “In the battle of billionaires, portfolios become collateral damage.”
> — Wall Street Journal
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#TRUMP #ElonMusk #TaxBill #Crypto #Write2Earn
Follow for real-time power shifts.
P.S. When elephants fight, the grass suffers. Hedge your bets.
