In the early morning of June 6, Musk and Trump completely tore each other apart. Less than a week after Musk stepped down as head of the "Government Efficiency Department" (DOGE), the two began to expose and fire at each other on the X platform. This caused Tesla's stock to drop over 15% in a single day, and Trump Media Company (TMTG)'s stock also plummeted 7.82%. As this "political reality show" reached its climax, internal cracks appeared in Trump's crypto empire.

Presidential Live Mutual Roasting, Global Netizens Watch the Drama

On the morning of June 6, Musk suddenly posted on the social platform X, "It's time to drop a real bombshell: Trump appears in the Epstein files. This is the real reason these files were not made public. Have a nice day, DJT!"

This puzzling tweet was Musk's latest "bombshell" in his verbal battle with Trump. A few hours earlier, Trump had just posted on his personal social platform that Musk was making him "bored", "I told him to leave, I canceled the electric vehicle mandate that forced everyone to buy electric vehicles that no one wanted (he knew this months ago!), and then he went crazy!" He continued to post, "The simplest way to save billions of dollars in our budget is to terminate government subsidies and contracts for companies like Musk (Tesla, SpaceX, etc.), and I've always been surprised that Biden hasn't done this!"

Trump continued to attack and claimed he could win Pennsylvania even without Musk's help. This statement further enraged Musk, who posted on X, "Trump is so ungrateful. Without me, Trump would lose the election, the Democrats would control the House, and the Republican seats in the Senate would drop from 51 to 49."

After leaving the "Government Efficiency Department" last Friday, these former "allies" quickly moved to open confrontation.

The person planning the $TRUMP dinner in Washington in May 2025 is Bill Zanker, a long-time friend of President Trump. Bill Zanker is the "authorized person" of Fight Fight Fight LLC, the company behind the $TRUMP Token, which, together with CIC Digital LLC, owns 80% of the $TRUMP meme Token, valued at billions of dollars.

Bill and Trump co-authored "Think Big and Kick ASS in Business and Life" in 2007. They also co-founded the crowdfunding website FundAnything in 2013, which Zanker started with his own $1 million. However, a year later, Trump distanced himself from the project, posting only a few dozen tweets and stating that "raising this fund took too much of my time and energy," after which the project "fizzled out". It wasn't until 2022 when Bill Zanker proposed the "Trump Non-Fungible Token" business concept that they began collaborating in the crypto space.

Bill Zanker and Trump's photo together

CIC Digital LLC was established in 2021 by John Marion, one of Trump's lawyers, and former advisor Nick Luna. As an affiliate of the Trump Group, CIC Digital LLC collaborates with Fight Fight Fight LLC to operate the $TRUMP Token website and generate transaction revenue.

CIC Digital LLC is responsible for authorizing Trump's name and likeness for Non-Fungible Token projects like Trump Digital Trading Cards. Bill Zanker is considered a key driver of Trump's Non-Fungible Token project. CIC Digital LLC licensed Trump's brand to NFT INT LLC (a Delaware-registered company), with Zanker playing an organizational and promotional role, though he does not directly own NFT INT LLC.

Magic Eden, a prominent Non-Fungible Token platform, has also collaborated with the Trump Digital Trading Cards project. In March 2024, the Trump card Non-Fungible Token project announced its migration to Magic Eden, stating that Magic Eden "has established a dedicated team to assist users in managing Trump digital card collections".

Besides Bill Zanker, the crypto community believes David Sacks, chairman of the crypto committee, is also a key figure in $TRUMP. Known as a PayPal co-founder, Sacks gained fame by creating Yammer and selling it to Microsoft for $1.2 billion. In the crypto world, his most important role is as an investor in crypto venture capital firm Multicoin and a Solana maximalist.

Within days of $TRUMP, a $MELANIA Token named after Trump's wife was also issued. Messari founder Ryan Selkis tweeted to Trump, suggesting he fire the team recommending the $MELANIA project. "The project team lacks professional capabilities, could cause significant economic and reputation damage, and project decisions do not fully consider Trump's interests," Selkis pointed out the issues with $MELANIA.

Compared to $TRUMP Token, $MELANIA's issuance was more hasty, with incomplete front-end code, uncompressed images, a website built just a day before project launch, and non-rigorous legal text. Many netizens speculate that $MELANIA and $TRUMP were handled differently and might not have been operated by the same team.

Similar to the previous "schedule clash" of $TRUMP and $MELANIA, after Magic Eden announced its crypto wallet collaboration, Trump's eldest son stated that WLFI would also launch its official wallet. However, "Trump wallets" are not like meme coins, and only one Trump concept wallet can exist, which led to today's "true and false Monkey King" farce.

Eric Trump sent a series of text messages to The New York Times, escalating the dispute, stating that the Trump family would legally challenge the "$TRUMP Wallet", despite the wallet being promoted on social media by an account related to Bill Zanker, who is part of the "Trump interest group". "This product has not reached any agreement," Eric Trump wrote, "This product has not reached any agreement. It has not been approved".

WLFI was established on September 16, 2024, when President-elect Donald Trump announced his entry into X. The company was founded by real estate mogul Steve Witkoff and his son Zach Witkoff, with Trump's sons Eric Trump and Donald J. Trump Jr. also participating as team members.

Justin Sun (left), Zach Witkoff (center), and Trump's second son Eric Trump (right) attending the crypto conference Token2049 in Dubai

Zach Witkoff, son of Witkoff and co-founder of World Liberty Financial, announced at a conference in Dubai that the company has reached an agreement with Tahnoon's enterprise to purchase $2 billion of World Liberty's USD1 stablecoin. The Witkoff family and Trump family are expected to receive tens of millions of dollars in annual profits "Trump family holds 60% of World Liberty Financial shares".

Since last fall, the Trump family has launched multiple crypto projects, including American Bitcoin, $TRUMP, $MELANIA, World Liberty Financial, and Trump Media & Technology Group. Recently, Trump family crypto activities continue, with Truth Social submitting a Bitcoin ETF application, Trump's wife's official meme Token $MELANIA reaching a liquidity provision agreement with Wintermute, and WLFI airdropping 47 USD1 tokens to token subscriber addresses, seemingly putting the stablecoin track on track.

At this point, the teams behind $TRUMP and Trump Non-Fungible Token, seemingly having exhausted market liquidity benefits, appear to be gradually moving away from the "Trump Group" core circle.