How Musk and Trump’s Feud Shook the Financial World
Musk claimed Trump’s tariffs would cause a recession in late 2025 and threatened to decommission SpaceX’s Dragon spacecraft.
Tesla’s Historic Loss: Tesla shares dropped 14% on June 5, 2025, erasing $150 billion in market value, the largest single-day decline in the company’s history. Trump’s Threat: President Trump threatened to terminate government subsidies and contracts for Musk’s companies, including Tesla and SpaceX, over a dispute on a tax bill. Market Ripple Effects: The Nasdaq 100 fell nearly 1%, and the S&P 500 declined as investors reacted to the feud and Trump’s tariff policies. Musk’s Counter: Musk claimed Trump’s tariffs would cause a recession in late 2025 and threatened to…
This Week In Crypto
This week in crypto, Bitcoin Payments Approved as Bitcoin Payments Get Green Light in California, with California’s Assembly passing a bill to allow cryptocurrency payments for state services. Ethereum ETFs Surge as Ethereum ETFs Surge, Price Patterns Hint at Rally, showing strong market performance and potential for a price rally. Solana Memecoins Drop due to Solana Memecoins Drop Amid PumpFun Token Rumors, with rumors affecting the Solana-based memecoin launchpad PumpFun. SEC Drops Binance Case as the SEC Drops Binance Lawsuit and Greenlights Staking Networks, signaling a regulatory shift by dismissing charges and approving staking networks. Crypto ATM Scams Rise in Crypto ATM Scams Surge in Australia, prompting Australia’s AUSTRAC to impose stricter regulations. Token Unlocks Loom with $3.3 Billion in Crypto Tokens Set to Unlock in June 2025, potentially impacting market dynamics. Noon Capital’s Yield Strategy gains attention through Unlocking Consistent Yield with Noon Capital’s Stablecoin Delta-Neutral Edge, offering stable returns in DeFi.
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