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Tensions Between Trump and Musk and Their Impact on Cryptocurrency
In early June 2025, the dispute between former U.S. President Donald Trump and businessman Elon Musk escalated after Musk criticized a spending bill supported by Republicans, calling it "harmful" on platform X. Trump's response was sharp, threatening to cut federal support and government contracts to Musk's companies like Tesla and SpaceX.
Musk did not remain silent, but personally attacked Trump, calling for him to be barred from running again, and reminded him of his controversial relationships, including the Jeffrey Epstein case.
This tension had a direct impact on the markets, as Tesla's shares fell, and the anxiety extended to the cryptocurrency market, causing Bitcoin to drop by 1.5% and Ethereum by 6%.
Investors are currently advised to exercise caution amid this volatile political atmosphere.
Sources: Bloomberg, CoinDesk, Forbes.