A public feud erupted between Donald Trump and Elon Musk after Musk criticized Trump's spending bill. Trump retaliated by threatening Musk's government contracts, escalating to personal attacks. This caused significant crypto market volatility. Bitcoin dipped below $101,000, and US spot Bitcoin ETFs saw heavy outflows. Memecoins tied to both figures ($TRUMP and Dogecoin) plunged over 10% and 6% respectively. Despite the feud, Trump's administration continues advancing pro-crypto policies, including a planned "Truth Social Bitcoin ETF" and key appointments. However, his personal ventures, like the $TRUMP memecoin (which crashed), highlight tensions between policy and self-interest. The conflict adds short-term uncertainty to crypto markets.
