Trump Vs. Musk Gets Ugly—Could Crypto Take A Hit In The Crossfire?

Key Points

1. Elon Musk announced the formation of the 'America Party' on July 5, 2025, aiming to provide a third political option for voters dissatisfied with the current system.

2. Donald Trump criticized Musk's move, calling it a sign that Musk has gone 'off the rails' and labeling it a 'Train Wreck'.

3. Musk criticized a major spending bill in Congress, calling it a 'disgusting abomination' and warning it would inflate the U.S. budget deficit.

4. Cryptocurrency prices remained stable despite the political spat, with Bitcoin holding above $108,000 and Dogecoin trading near $0.16.

5. The article notes that building a new political party requires more than social media buzz, questioning whether Musk has a concrete plan beyond online engagement.