Author: Fairy, ChainCatcher
Editor: TB, ChainCatcher
Original Title: Crashing U.S. Stocks, Bitcoin Plummets, Musk and Trump "Verbal Battle" Causing a Financial Tsunami?
Note: The content is compiled based on the dispute between Musk and Trump, not in strict chronological order.
Musk wanted to be America's "Yang Jinshui" but discovered he was "Gao Hanwen".
Last night, Trump and Musk directly clashed on social media, with former allies completely falling out. Musk even dug up Trump's tweet from 12 years ago as a "weapon", with both sides using sharp and pointed language.
When the sun rose, the market was already in bloodshed: Tesla's market value evaporated by $153 billion, creating a historical single-day drop. Bit dropped 4%, Doge plummeted 10%. High-leverage James Wynn continues to be liquidated, with current losses around $29 million.
Musk Enters, Musk Exits
Their honeymoon began with the 2024 election, with Musk investing $290 million to support Trump, even personally visiting swing states to campaign. After Trump's victory, he appointed Musk as head of the "Government Efficiency Department" (DOGE), authorizing him to reform federal agencies and cut fiscal expenditures. At that moment, Musk seemed to have truly become America's "Yang Jinshui".
But the sugar coating of power quickly melted. In April 2025, Musk had a fierce disagreement with White House Chief of Staff Besant over tariff policies, nearly coming to blows outside the White House. Trump ultimately adopted Besant's proposed appointment, perhaps the first warning sign of the crack in the Musk-Trump alliance.
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A month later, Musk indicated he was leaving the Trump administration, no longer serving as a special government employee, though the DOGE team would continue working across the government. The seeds of their dispute seemed to be sown here.
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Financial big shot Bill Ackman also stated: "Musk and Trump, together they benefit, apart they both suffer." Musk succinctly responded: "You're not wrong". This interaction was seen by the market as a signal that their relationship might temporarily reconcile.
However, the plot remains full of variables. Crypto KOL Bruce J analyzed: "I predict that a 'mediator' may intervene later; the big beautiful bill will still pass, but with reduced expenditures, giving everyone a way out; Trump and Musk will cease fire in the short term, but their personal relationship will be completely broken."
Regardless of whether this storm ultimately ends in a temporary "reconciliation" or escalates to a full-scale showdown of power and capital, this conflict has long since transcended personal grievances, touching on political nerves and market patterns. As one netizen aptly joked: "Neither of these two has done what adult men should do—control their emotions and watch their mouths."
