Trump Clashes with Musk Over DOGE and Tesla Subsidies—Crypto Markets Brace for Impact

Former President Donald Trump just reignited his public feud with Elon Musk—this time dragging Dogecoin and Tesla's government subsidies into the crossfire. The verbal sparring matches Musk's erratic crypto tweets against Trump's trademark brashness, leaving traders to wonder which billionaire's ego will move markets next.

Behind the drama: Tesla's federal incentives and Musk's DOGE advocacy face fresh scrutiny. Trump's critique hits where it hurts—Musk's wallet and crypto credibility. Meanwhile, Wall Street shrugs—another day, another billionaire leveraging public platforms for personal gain.

One thing's clear: When egos this size collide, the only sure winners are volatility traders and popcorn suppliers.

Questions on Musk’s drug use

When asked about the chatter about Musk’s alleged drug use while operating companies under government contracts, Trump declined to comment directly. 

“I don’t want to comment on his drug use. I don’t know. I don’t know what his status is. I read an article in the New York Times. I thought it was, frankly, it sounded very unfair to me,” he surmised.

Trump told the reporters that he is focused on national and international affairs rather than personal issues involving Musk. “I’m not thinking about Elon,” Trump said. “I just wish him well.”

Tesla, DOGE, and ‘the key’

Trump was also questioned about the figurative “key” to the WHITE House given to Musk last week when the latter officially exited the Department of Government Efficiency (DOGE). Asked if he would want that key returned, Trump replied, “I gave him a key. He tried very hard.”

The US president praised the Doge co-founder for “helping his administration a lot,” and added that “It helped our thinking.” He also claimed that Musk’s involvement in the initiative saved “hundreds of billions of dollars” and described the outcome as “terrific.” 

According to Trump, many individuals who worked with Musk during that period are still involved with current Republican efforts, and “they’re going to remain with us.”

“A lot of good things are happening with our country. We’re taking in billions of dollars of tariff money. The money is pouring in. And it hasn’t even started yet, really, relatively. We’re going to have a very successful country very soon and a very strong bill,” he continued.

Despite Musk’s once-close advisory role, Trump confirmed he has no plans to reach out to the billionaire entrepreneur, and rejected rumors of behind-the-scenes efforts to reconcile, stating: 

“A lot of reporters have been calling me. I didn’t call any reporter. A lot of reporters, they ask me the same question. No, I don’t. I’m not even thinking about that. I’m not really interested in that. I’m really interested in the country and solving problems.” 

Foreign policies and meetings with world leaders

Throughout the interview, Trump steered the conversation to the global crises and what he described as the country’s recent economic successes. He claimed credit for the latest stock market rally and job growth figures, asserting that the US economy is “doing better than it’s ever done before.”

“A lot of jobs are being created. That’s what happened this morning. You saw the jobs. And the nice part, they’re not government jobs. They’re jobs of people coming in and doing other things, including hotel and leisures,” the president boasted.

He also talked about the Federal Reserve, bashing Chair Jerome Powell and repeating his call for interest rate cuts. “If we had a good Fed chairman, you would lower rates,” he beckoned.

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