Wasn’t planning on another blog today. But hey, if you’re writing about the news, you better stay active when it’s newsworthy. And with Trump, dull moments are rare. A lot happened in the last 24 hours, but the headline stealer was the public fight between Donald Trump and Elon Musk. A true clash of titans. Personally, I got stopped out of a long trade, but that’s why we use stop losses. Now, let’s dive into the crypto trenches and break down the latest chaos.
1. Trump and Musk Escalate Public Feud
Elon Musk just called for Donald Trump to be impeached. Yes, really.
It all started when Musk brought up Trump’s alleged links to Jeffrey Epstein, stating that Trump is in the unreleased Epstein files. He went on to say, “Time to drop the really big bomb,” suggesting this is why those files were never made public. Trump, not one to stay quiet, responded by threatening to cut off federal contracts and subsidies to Musk’s companies like Tesla and SpaceX.
Within minutes, it got personal. Trump mocked Musk’s black eye and suggested he should’ve covered it with makeup. He even pulled back support for Musk’s favorite NASA nominee. Musk fired back, claiming he was the reason Trump even won the election and criticized Trump’s latest spending bill, calling it a “disgusting abomination.”
Then things spiraled further. Trump claimed he fired Musk as a White House adviser. Musk responded: “Such an obvious lie. So sad.”
The Musk-Trump bromance is officially over. Meanwhile, Tesla shares dropped 15% as the feud unfolded. The MAGA crowd is now split. One side loyal to Trump, the other following Musk’s crypto-maxi vibes.
It’s not just political drama anymore—it’s market-moving.
2. WLFI Sends Cease-and-Desist Over “Fake” Trump Wallet
Right before the Musk fireworks, another Trump-linked crypto bomb dropped.
World Liberty Financial (WLFI), Trump’s official crypto platform, sent a cease-and-desist letter to the team behind GetTrumpMemes.com. Why? Because they launched a crypto wallet branded with Trump’s name—without permission.
Donald Trump Jr., who serves as WLFI’s Web3 ambassador, clarified that the Trump family has zero involvement with that project. WLFI has its own wallet coming soon, and they’re not happy with imposters cashing in on the name.
The team behind the memecoin and wallet, Fight Fight Fight LLC, partnered with Magic Eden to launch the project. Now, they might be forced to scrap the entire thing. Just another day in the wild west of crypto.
Read more about these details here.
3. Airdrop Updates You Don’t Want to Miss
With all the noise, don’t forget to claim your free tokens.
- WLFI Airdrop: $4 million was airdropped to early investors—no need to claim, they just sent it. Like the good old days.
- Yieldnest Claim Live: If you farmed this, your tokens are live and tradable on MEXC. See announcement
- Kaito/Infinex: If you followed our farming guide, the snapshot for Infinex was June 5. Read the guide
- GPU.net Claim Live: Another one available to grab. Claim here
Stay sharp. These drops don’t last forever, and missing one could mean leaving easy money on the table.
Missed out on these? Join one of these testnet airdrops.
4. Circle Goes Public and Triples on Day One
Amid the chaos, one company had a big win.
Circle, the company behind the USDC stablecoin, just went public. And it was a blowout. The stock opened at $69 and spiked over $103 within hours. That’s a near tripling in a single day.
This marks the biggest crypto IPO since Coinbase in 2021. It’s also the first big listing from a stablecoin issuer. Investors are optimistic, and this could open the floodgates for other crypto firms eyeing public markets.
It’s not just about Circle’s win. It’s also about timing. The Trump administration has taken a crypto-friendly stance, which helped drive investor interest. This might be the spark the IPO market needs after a long quiet period.
5. James Wynn Liquidated—Again
Remember James Wynn? Yeah, he did it again.
The infamous trader, also known as “Moonpig,” lost another $25 million in a single Bitcoin trade. Using 40x leverage (yes, really), he got liquidated at $103,930 after opening a $100 million long.
This isn’t his first disaster. He’s already down over a billion in previous trades. But instead of stepping away, he’s livestreaming new trades on Pump.fun and asking for donations.
It’s entertaining, sure. But it’s also a reminder: don’t trade like Wynn. There’s a fine line between bold and reckless.
6. Trump Media Files for a Bitcoin ETF
Just when you think Trump is done surprising the market—he’s not.
Trump Media and Technology Group filed paperwork for a new Bitcoin ETF: the Truth Social Bitcoin ETF (ticker: B.T.). If approved, it would list on NYSE Arca. Crypto.com is set to act as custodian.
This is a major move, and it aligns with Trump’s push to deregulate the crypto industry. It also shows how serious his team is about embracing Bitcoin, not just memes and media stunts.
Shares of Trump Media (DJT) dipped 2.3% after hours, but don’t be fooled. If the ETF is approved, this could drive serious institutional attention.
7. Trump Wants Powell to Cut Rates
Not all the drama is on X.
Trump took to Truth Social to blast Fed Chair Jerome Powell again, saying the May jobs data shows it’s time to cut interest rates. His words have already caused market ripples.
He’s pointing to Europe’s multiple rate cuts as a reason to follow suit. But these repeated jabs raise concerns about the Fed’s independence—something that could haunt markets later.
Still, love him or hate him, Trump knows how to move markets. His posts alone are now affecting everything from meme coins to macroeconomics.
Final Thoughts: Trump Is the Market
From fighting with Elon to filing a Bitcoin ETF, Trump is back at the center of every crypto conversation. He’s moving coins, shaking up platforms, and triggering both panic and profit.
Love him or not, there’s no denying one thing—crypto is never boring with Trump in office.
Stay safe, stay alert, and don’t fade the volatility. More action is always just one tweet away.
If you enjoyed this blog, you may want to check our other crypto news updates.
As always, don’t forget to claim your bonus below on Bybit. See you next time!
