Trump and Musk have started a war of words, and the Crypto Assets market has fallen.

Techub News, Trump and Musk exchanged air in the early hours of this morning, Trump said that he had asked Musk to "leave" and cancel the mandatory electric car sales policy. He also proposed ending government subsidies and contracts for Musk's companies to save billions of dollars in the budget. He also highlighted that the bill currently before Congress is "one of the greatest bills in history," including a record $1.6 trillion in spending cuts and the largest tax cuts in history. Trump has warned that if the bill fails to pass, taxes will rise by 68 percent.

After Trump suggested canceling his government contracts, Musk responded that SpaceX would "immediately begin retiring" its Dragon spacecraft. At the same time, he warned that the tariffs imposed by Trump would lead to an economic recession in the U.S. in the second half of the year. Musk also initiated a poll proposing the establishment of a new political party that "truly represents the middle 80% of the public." As of now, over 2.98 million users have participated in the voting, with 81.1% in support. Musk also agreed with a tweet stating that "Trump should be impeached" and disclosed that Trump appeared in Epstein's documents.

The verbal battle between the two sides has led to a widespread decline in the cryptocurrency market, with Bitcoin falling below 101,000 USDT and Ethereum dropping below 2,400 USDT. At the same time, Tesla's stock price has fallen to 284.7 USD, with a daily drop of over 14%; the Trump Media Technology Group (DJT.O) has fallen to 20.12 USD, with the drop widening to 9% at one point.