Trump Vows to Weaponize DOGE in Clash with Elon Musk—Crypto Markets Brace for Impact
Political theatrics collide with crypto chaos as Donald Trump threatens to turn Dogecoin against Elon Musk in a bizarre power play. The meme coin that refuses to die might just become the pawn in a billionaire grudge match.
When egos clash, markets tremble
The feud between the former president and Tesla's CEO takes a surreal turn as Trump suggests mobilizing DOGE holders against Musk. Never mind that the coin's utility begins and ends at Twitter tipping—when Titans fight, they'll use whatever weapons they find.
Wall Street analysts shrug while crypto traders front-run the drama. After all, what's another speculative frenzy in an industry built on them? The only certainty: someone's about to make—or lose—a fortune on dog-themed internet money.
A broken union
In recent weeks, Musk has increasingly distanced himself from the administration, beginning with a public breakup and later issuing an apology.
That didn't last for long, however, with Musk launching tirades on X against Trump's so-called One Big Beautiful Bill.
The legislation, which seeks to introduce sweeping tax cuts, immigration reform, and crypto-friendly provisions, has sparked criticism, including from Musk and leading economists, who say it could add over $3.3 trillion to the U.S.'s national debt.
"Hitting the debt ceiling is the only thing that will actually force the government to cut waste and fraud," Musk posted past midnight on X, vaguely alluding to Trump's Monday post. "That’s why the debt ceiling legislation exists."
While Musk has long benefited from federal contracts, tax incentives, and energy programs, Trump’s recent criticism of that support drew backlash from sectors that consider Tesla and SpaceX strategically important to national interests.
The dispute also draws attention to Trump’s ongoing financial exposure to the crypto sector, where Musk's Tesla and X also have significant, overlapping investments, both in the underlying technology and Tesla’s $1.2 billion Bitcoin holdings.
While in office, Trump has maintained ties to crypto-linked ventures, from a family-operated NFT platform to partnerships with crypto firms, including miner Hut 8 and DeFi platform World Liberty Financial.
Asked by Decrypt last week whether he's willing to pull away from those ventures, Trump deflected the question, instead asserting that without his presidency, the crypto industry wouldn't be where it is today.
“But I’m president, and what I did do there is build an industry that’s very important. And you know, if we didn’t have it, China would," Trump said.
Edited by Sebastian Sinclair
