#DYMBinanceHODL Trump and Musk Fallout Again
Of course, the crypto community is far from united on the Big Beautiful Bill. This week, Elon Musk warned supporters of its major potential downsides, sending shockwaves through the crypto market.
Musk is very concerned about the US deficit, as evidenced by his time at D.O.G.E., and he repeatedly warned that this bill could lead to a recession:
For the last several days, Musk has vowed to create a new political party if the Big Beautiful Bill passes. This could represent a more permanent political divorce from Trump, which might particularly impact the meme coin market.
So far, Musk is still running a social media poll about this third party, and his plans may not actually materialize.