NEWS OF JULY 1ST 2025
š„ Trump Threatens to āUnleash DOGEā on Musk
On July 1, 2025, Trump reignited his public feud with Musk over his controversial āBig, Beautiful Billā ā a sprawling spending and tax reform package. Musk criticized it on X, calling it āoutrageousā and fiscally reckless. In response, Trump threatened to have the Department of Government EfficiencyāDOGE (formerly led by Musk)āāreviewā Muskās federal subsidies and even hinted at the possibility of revoking Muskās government contracts or citizenship, calling for an investigation via DOGE .
He also didnāt rule out deportation, stating that Musk might have to āhead back home to South Africaā if federal support was removed .
āļø Political & Legal Implications
Trumpās use of DOGE as a political tool is drawing scrutiny: SEC staffers and government-watch groups are raising alarms about overreach and lack of transparency in how DOGE operates .
A lawsuit has been filed in D.C., citing Trumpās remarks on DOGE to demand more transparency about Muskās authority and role .
š Market & Crypto Reaction
The feud has rattled markets: Tesla stock dropped ~5ā6% in early trading, and memeācoin DOGE slid toward $0.17, reflecting heightened risk-off sentiment tied to the political conflict .
Broader crypto sentiment suffered, with increased volatility and liquidity flight as uncertainty around regulatory or political reprisals lingered.
š Summary
Trump is explicitly threatening to weaponize DOGEāthe agency he and Musk foundedāto pressure Muskās companies and potentially revoke federal subsidies or contracts.
This attack has sparked political backlash, regulatory concern, and legal scrutiny.
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