Musk Exits DOGE, Clashes With Trump—Dogecoin Gets Caught In The Crossfire
Dogecoin's price fell sharply this week, dropping about 11% on Thursday and 16% over the week, largely due to tensions between Elon Musk and Donald Trump. Musk resigned from the Department of Government Efficiency after criticizing Trump's spending bill, leading to a public feud where Trump expressed disappointment in Musk and threatened to cancel contracts with Tesla and SpaceX. Musk retaliated by claiming Trump's name appears in sealed documents related to Jeffrey Epstein. The fallout affected Tesla stock, which closed down 13% as investors feared lost revenue and regulatory scrutiny. The broader crypto market also suffered, with total liquidations reaching $982 million in one day, highlighting the volatility tied to the actions of influential figures like Musk and Trump.
