CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
Tuesday, July 1, 2025
No Result
View All Result
CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
No Result
View All Result
CRYPTOREPORTCLUB

Trump Threatens to Turn DOGE Against Former Chief Elon Musk

July 1, 2025
157
0

President Donald Trump intensified his public rift with Elon Musk on Monday, suggesting that DOGE, the agency he once helped create, take a harder look at the billionaire's companies.

In a Truth Social post, Trump questioned Musk’s prior leadership at the Department of Government Efficiency and accused him of benefiting from record-breaking government subsidies.

Related Post

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025

Historic Ethereum (ETH) Decision Comes from Bitcoin Mining Company! Wall Street Giant Tom Lee Speaks Assertively!

July 1, 2025

"Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," President Trump said.

No formal action has been announced at the time of writing. Decrypt has approached the White House and Musk's representatives for comment.

The post marks a sharp turn for a partnership that once symbolized Trump’s embrace of tech-sector disruption.

Launched in early 2025, DOGE was framed as a joint initiative between Trump and Musk to streamline bloated federal systems, with its name nodding to the meme crypto Dogecoin.



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

Share212Tweet133ShareShare27ShareSend

Related Posts

Crypto news

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025
0

This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. The dollar index (DXY), which tracks the greenback's value against major fiat currencies, looks south, having taken a beating in the first half. Still, bitcoin's BTC$106,500.49 chart points to immediate downside risks. The DXY fell...

Read moreDetails

Historic Ethereum (ETH) Decision Comes from Bitcoin Mining Company! Wall Street Giant Tom Lee Speaks Assertively!

July 1, 2025

Renowned Economist Robert Kiyosaki Says, “Bitcoin Seems Very Expensive Right Now, But I’m Still Buying It,” and Explains Why

July 1, 2025
Circle Applies for US Trust Bank License

Circle Applies for US Trust Bank License

July 1, 2025

DEXs capture almost 30% of CEX spot activity in June, setting new record

July 1, 2025

ETH Price Surges as $2.9B Inflows, EthCC, and Robinhood’s L2 Fuel Bullish Sentiment

June 30, 2025

Is Bitcoin (BTC) Currently Overpriced or Undervalued? Here’s What Analysts Think

June 30, 2025

Recent News

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025
The Morning After: Don’t let an AI run a vending machine

The Morning After: Don’t let an AI run a vending machine

July 1, 2025

Historic Ethereum (ETH) Decision Comes from Bitcoin Mining Company! Wall Street Giant Tom Lee Speaks Assertively!

July 1, 2025
Reinforcement learning for nuclear microreactor control

Reinforcement learning for nuclear microreactor control

July 1, 2025

TOP News

  • Apple details new fee structures for App Store payments in the EU

    Apple details new fee structures for App Store payments in the EU

    540 shares
    Share 216 Tweet 135
  • Buying Art from a Gallery. A Guide to Making the Right Choice

    534 shares
    Share 214 Tweet 134
  • New Pokémon Legends: Z-A trailer reveals a completely large model of Lumiose Metropolis

    564 shares
    Share 226 Tweet 141
  • Bitcoin Bullishness For Q3 Grows: What Happens In Every Post-Halving Year?

    534 shares
    Share 214 Tweet 134
  • Machine learning methods are best suited to catch liars, according to science of deception detection

    533 shares
    Share 213 Tweet 133
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Crypto news
  • AI
  • Technologies

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved