Feud erupted: Musk publicly slammed Trump’s "Big, Beautiful Bill" as a “disgusting abomination,” hinted at ties to Epstein, and supported impeachment chatter. Trump retaliated by threatening to cancel Musk’s federal contracts .

Market turmoil: Tesla shares plunged ~14–17%, wiping tens of billions off Musk’s net worth. Trump‑related assets—including $TRUMP coin and Trump Media stock—also dropped in value .

Memecoin frenzy: The clash triggered $355M in memecoin trading volume. Coins like “Official Trump,” “Kill Big Beautiful Bill” and others surged as traders jumped in on the drama .

Truce emerging: On June 9 Musk privately called Trump, then publicly deleted critical posts and expressed regret that he "went too far." Trump replied it was “very nice.” The White House confirmed Musk’s government contracts won’t be touched .

Crypto rebound: Musk’s apology boosted optimism. Dogecoin jumped ~6% as ETF speculation rose. Meanwhile, the $TRUMP meme coin saw further losses initially .