#TrumpVsMusk #MarketPullback
The feud between **Donald Trump** and **Elon Musk** has sent shockwaves through financial markets, particularly in the **crypto sector**. Here’s a breakdown of what’s happening:
- **Bitcoin and Ethereum Crash**: The crypto market lost **$170 billion** in value as Bitcoin dropped to **$100,500**, while Ethereum fell **6%**.
- **The Trigger**: Musk criticized Trump’s **tax bill**, calling it a “disgusting abomination” and warning it could lead to a recession. Trump retaliated by threatening to **terminate Musk’s government subsidies and contracts**.
- **Explosive Allegations**: Musk escalated the feud by claiming Trump was **in the Epstein files**, suggesting that’s why they haven’t been made public.
- **Tesla Takes a Hit**: Tesla’s stock plunged **14%**, wiping out over **$100 billion** in market value.
- **Crypto Meme Coins React**: The **Official Trump (TRUMP) token** became the worst-performing crypto among the top 100, losing **$233 million** in market cap. Meanwhile, **Dogecoin (DOGE)**, long associated with Musk, also dropped **7.1%**.
The feud has **rattled investors**, with many questioning the future of Musk’s government contracts and Trump’s influence on financial markets.