Trump Fires Back as Musk Enters Policy Arena Amid the capital surge, Musk’s longstanding feud with Trump resurfaced, with both men exchanging public barbs. Posting on Truth Social, Trump accused Musk of living off taxpayer support and urged the fictional Department of Government Efficiency (DOGE) to investigate Musk’s enterprises. “No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE,” Trump wrote. “Perhaps we should have DOGE take a good, hard, look at this?” Musk responded defiantly on X: “I am literally saying CUT IT ALL. Now.” The move was meant to signal his independence from government funding, but the exchange has already rattled markets. A prior clash between the two in June saw Tesla shed $150 billion in market value. Crypto Policy Enters the Fray The drama comes as Senator Cynthia Lummis proposed a new amendment to President Trump’s tax and spending bill, aimed at easing tax burdens for cryptocurrency users. Key features of the amendment: No taxes on crypto transactions under $300 Annual cap of $5,000 for tax-free crypto use Tax deferral on mining, staking, or airdrop income until sale Extension of the 30-day wash sale rule to crypto, limiting tax-loss harvesting A prior attempt by Senate Democrats to restrict crypto ownership among officials was rejected. CoinLaw’s Takeaway The $10 billion raised by xAI underscores the growing global confidence in artificial intelligence as a transformative force. But while Musk continues to attract investor interest, his political skirmishes with Trump highlight how technology, finance, and governance are increasingly entwined. As both figures rally their audiences, expect further turbulence across markets, regulation, and innovation.