#CryptoSecurity101 Trump asks Elon Musk to step down as head of the Government Efficiency Board after scathing criticism of the budget bill. Musk described the project as "massive and disgraceful" and "a foul abomination," while Trump called it "big and beautiful." This public dispute comes less than a week after Trump held a farewell party for Musk in the Oval Office.¹

Musk supported Trump's impeachment and the appointment of J.D. Vance as president, and he posted a poll on his "X" account asking about the creation of a new political party in America representing the middle class, which garnered over a million votes.

The disagreements between Trump and Musk included threats to cancel massive government contracts awarded to Musk, including for launching space rockets and using the Starlink satellite service, worth $18 billion. Musk responded that his company "SpaceX" would begin "withdrawing" the Dragon spacecraft from service.