The ongoing feud between Donald Trump and Elon Musk has taken a dramatic turn, with both parties engaging in a war of words and threats. Let's break down the latest developments:
The Feud Reignites
- Trump Threatens Deportation and Subsidy Cuts: Trump hinted at deporting Elon Musk, citing his birthplace in South Africa despite being a naturalized citizen. He also suggested stripping Tesla, SpaceX, and other Musk-owned companies of federal subsidies and contracts, claiming it would save taxpayers billions.
- Musk Fires Back: Musk called the "One Big Beautiful Bill" spending package "utterly insane and destructive" and demanded that all subsidies be cut. He even floated the idea of creating a new political party, the "America Party," to challenge lawmakers supporting the bill.
Market Impact
The feud has taken a toll on Tesla's shares, which fell between 5-6% amidst the political confrontation. Analysts warn that Musk's companies are now at risk due to potential federal contract termination and EV subsidy rollbacks.¹
A Sudden Tone Shift
In a surprising move, Musk publicly praised Trump for brokering a 60-day Gaza ceasefire, tweeting "Credit where credit is due". This praise suggests a possible pause in the feud or a strategic recalibration on Musk's part.
What's Next? A Strategic Recalibration?
The tension between Trump and Musk remains unresolved, with both parties engaging in sharp rhetoric. However, Musk's praise for Trump's diplomatic efforts may indicate a strategic shift in their feud.
Tracking Future Developments
Stay tuned for real-time updates on this developing story. Will Musk and Trump continue to clash, or will their feud simmer down? Get the latest news and analysis on this high-profile confrontation.
Binance Updates
Meanwhile, Binance has been making waves in the crypto space. Recent updates include² ³:
- Binance Partners with Worldpay: Integrating Apple Pay and Google Pay for seamless transactions
- Binance Academy and Pakistan Partner: Launching a nationwide blockchain education program
- Bhutan Embraces Crypto: Adopting a nationwide crypto payment system for tourism through Binance Pay
Stay informed about the latest crypto news and updates on Binance. Whether you're a seasoned trader or a newcomer, Binance has something for everyone.
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