🫡From 'Best CP' to 'Complete Falling Out': The Drama Between Musk and Trump
During the 2024 U.S. presidential election, Musk spent $250 million to support Trump, becoming a key financial backer, and was appointed head of the 'Department of Government Efficiency' ($DOGE), attempting to 'reconstruct' government spending with Silicon Valley algorithmic thinking. Trump reciprocated, calling Musk a 'genius' and even hosting a Tesla car show on the White House South Lawn to show his support.
Good Times Don't Last Long, Cracks Appear
The honeymoon period didn't last long, as their relationship took a sharp turn. Musk publicly criticized Trump's 'big and beautiful' tax reform bill, calling it 'disgusting' because it cut electric vehicle tax credits, directly hurting Tesla's wallet. He also blasted Trump's high tariff policy, arguing it would disrupt the global supply chain and make Tesla's business harder to manage.
Trump's team did not hold back either. Trade advisor Peter Navarro directly attacked Musk, calling him an 'idiot.' The Trump camp also expressed dissatisfaction with Musk's involvement, feeling he was overstepping.
Breakup Drama
On May 31, 2025, Musk announced his exit from the 'Department of Government Efficiency,' stating he didn't want to take the blame for the government's mess. Trump, however, stubbornly claimed that Musk 'hadn't really left,' trying to downplay the drama. But last night, the two engaged in a direct online spat, with their verbal exchanges deemed an annual spectacle, as netizens exclaimed 'eating melons to the point of bursting.'
Musk has always been the 'traffic password' in the crypto space, with a single tweet capable of sending Bitcoin and Dogecoin (DOGE) on a rollercoaster ride. During his first term, Trump ignored cryptocurrencies, but during his 2024 campaign, he promised to support the crypto industry. Now that the two have fallen out, the market is left in confusion.
Musk's exit and harsh criticism of Trump's policies (tax reform + high tariffs) have shaken investor confidence in the crypto market. The price of Dogecoin has already begun to fall.
While at the 'Department of Government Efficiency,' Musk advocated for deregulation, trying to loosen restrictions on the crypto industry (such as relaxing KYC requirements for exchanges).
With his departure, Trump may turn against him and tighten regulations. Musk and Trump's 'breakup' once again proves that any assets tied to individuals or politics are 'minefields.' The future of Bitcoin and Ethereum ultimately relies on technological fundamentals, not the rhetoric of any big shot.
