Elon Musk and Donald Trump's public fallout is centered around D.O.G.E. and Musk's opposition to Trump's "Big Beautiful Bill."
Musk's criticism of Trump's tax bill, which contradicts D.O.G.E.'s mission, has triggered new meme coins like "Kill the Bill."
The dispute has led to a 9% drop in Dogecoin, though its impact is currently limited to meme coins in the broader crypto market.
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Elon Musk and Donald Trump are finally falling out in the open, directing digs at each other over social media. A series of Musk-themed meme coins have risen in the event’s wake, but DOGE is down over 9%.
These are two of the most powerful men in the world, and each is a titanic figure in the crypto industry. This split could have broad ramifications for the entire ecosystem, especially meme coins.
Musk left D.O.G.E. several days ago, and he’s been voicing firm opposition to the “Big Beautiful Bill”, which includes major tax breaks and increased defence spending. Today, this bill ultimately triggered a broader fallout, with Trump publicly criticizing the Tesla CEO:
US President on Truth Social
Specifically, Musk’s disagreement with President Trump has centered around D.O.G.E., which was unable to deliver on its lofty promise of cutting government waste.
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Meanwhile, Trump’s tax bill would promise billions in new tax cuts and government spending, directly undermining D.O.G.E.’s mission.
This prompted Musk to call Trump’s bill a “disgusting, massive, outrageous, pork-filled abomination,” encouraging followers to kill it. This “Kill the Bill” slogan has become a rallying cry and the name for several of today’s resulting meme coins.
Almost all of the trending meme coins on Solana DEX are now centered around Trump vs Elon Musk. Some of these tokens have even stacked nearly $7 million in market cap today.
Overall, this public spat has quickly spun out of control, with Musk obliquely accusing the President of pedophilia. As others have pointed out, this isn’t the first low in their business relationship.
In 2022, Trump claimed that Musk would be willing to “drop to [his] knees and beg” for government subsidies. After such insults, this sort of acrimony won’t resolve itself easily.
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Landon Manning is a Journalist at BeInCrypto, covering a wide range of topics, including international regulation, blockchain technology, market analysis, and Bitcoin. Previously, Landon spent six years as a writer with Bitcoin Magazine and co-authored a Bitcoin maximalist newsletter with 30,000 subscribers. Landon holds a Bachelor of Arts in Philosophy from Sewanee: The University of the South.
Landon Manning is a Journalist at BeInCrypto, covering a wide range of topics, including international regulation, blockchain technology, market analysis, and Bitcoin. Previously, Landon spent six years as a writer with Bitcoin Magazine and co-authored a Bitcoin maximalist newsletter with 30,000 subscribers. Landon holds a Bachelor of Arts in Philosophy from Sewanee: The University of the South.
