Tesla's stock price plummeted 14%! Trump criticized Musk for "going crazy" and angrily threatened to cancel Tesla and SpaceX government contracts

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ABMedia
3 days ago
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U.S. President Donald Trump and Tesla CEO Elon Musk recently engaged in a fierce verbal battle. Just days ago, they were praising each other at the White House, but now they have publicly fallen out due to disagreements over Trump's latest budget proposal. Trump angrily criticized Musk as "crazy" and hinted at terminating billions of dollars in federal government contracts with Musk's companies, causing Tesla's stock to plummet 14% in a single day. Bitcoin also dropped 3% amid the dispute, falling to 101K. [The rest of the translation follows the same professional and accurate approach, maintaining the original structure and meaning while translating to English.]

Bannon Calls for Comprehensive Investigation of Musk: From Drugs, Immigration Status to CCP Relations

Former White House strategist Steve Bannon publicly spoke out, calling on Trump to conduct a comprehensive investigation of Musk, including his immigration status, drug use record, and relations with the Chinese Communist Party. "Many people, including myself, suggest that the president revoke all of Musk's government contracts and immediately launch a major investigation," Bannon stated. He further implied that Musk had attempted to obtain confidential military briefings from China and even invited Xi Jinping to his inauguration ceremony, suggesting his actions do not align with national security interests.

Musk's Business Propped Up by Government? Government Contract Amounts Revealed

According to The New York Times report, SpaceX received approximately $3.8 billion in government contracts in the 2024 fiscal year, accumulating over $20 billion from NASA, the US Air Force, and other agencies since 2008. The Washington Post had previously pointed out in February that Musk and his companies have received at least $38 billion in contracts, subsidies, loans, and tax benefits from the US government over the past two decades. Moreover, Musk's enterprises are expected to continue securing government funding, with SpaceX being considered a key supplier for Trump's "Golden Dome" missile defense program. The relationship between Trump and Musk has dramatically deteriorated, causing shockwaves in political and tech circles. As budget controversies continue to unfold, whether Musk can retain his substantial federal contracts will be a key point of observation. For this tech billionaire, the cost of falling out with the US president may be more than just an online word battle.

Risk Warning

Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.

US stablecoin giant Circle will begin trading on the New York Stock Exchange today (6/5) with the stock ticker CRCL. Circle raised nearly $1.1 billion at a price of $31 per share, pricing higher than previously expected. Is Circle's pricing reasonable? After listing today, will it have a chance to replicate eToro's surge? (Circle IPO order book oversubscribed 25 times, will officially list at $31 today) [Rest of the text follows the same translation approach]

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