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Trump, Musk feud; Circle IPO; Strategy upsize
GameFi Guides

Trump, Musk feud; Circle IPO; Strategy upsize

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This week’s crypto roundup captures a whirlwind of activity across markets, politics, and policy. Tech mogul Elon Musk is feuding with President Donald Trump, and meme coin prices tumbled, while Circle made headlines with a stronger-than-expected initial public offering.

Institutional appetite for Bitcoin intensified as Strategy and Semler Scientific bolstered their treasuries, and Japan’s Metaplanet unveiled a massive $5.3 billion BTC acquisition plan. Meanwhile, regulatory shifts took shape, with the UK lifting its retail crypto ETN ban and Ripple’s RLUSD gaining approval in Dubai.

From Robinhood’s European expansion to Yuga Labs proposing the end of ApeCoin governance, the week revealed growing divides between legacy players and new strategies reshaping the crypto economy.

Trump, Musk conflict weighs on meme coin performance

  • Tensions between Trump and Musk reached a boiling point Thursday and continued over the weekend.
  • Musk, who reportedly contributed $295 million to Republicans in the 2024 election year (most of that money going to Trump), grew angry with the GOP for its attempts to pass a sweeping budget bill.
  • When Trump criticized Musk publicly, the Tesla CEO alleged on X that the president is named in confidential criminal files involving sex offender Jeffrey Epstein.
  • The public dispute has negatively impacted meme coins associated with both figures, with the Official Trump (TRUMP) and Dogecoin (DOGE) ranking among the 10 worst-performing cryptocurrencies over 24 hours, according to CoinGecko.

Also from MAGA world…

  • The Trump family has reportedly issued a cease-and-desist letter to entities behind a disputed Trump-branded crypto wallet.
  • Donald Trump Jr., Eric Trump, and Barron Trump have all publicly disavowed the $TRUMP Wallet project.

Circle prices IPO above expected range

  • Circle announced on Wednesday that the price of its IPO would be $31. This debut raised about $1.1 billion, above the estimated range of $24-26.
  • Circle expanded from the initial proposal of 24 million Class A shares to approximately 34 million.

Strategy upsizes preferred stock offering to $1 billion

  • Strategy said on Friday that it had raised the size of its STRD issuance from $250 million to $1 billion. At a price of $85 per share, 11,764,700 shares of Strategy’s 10% Series A Perpetual Stride Preferred Stock will be offered for sale.
  • Strategy also spent about $75 million for an extra 705 BTC, increasing its total Bitcoin holdings to 580,955 BTC.

Semler Scientific also adds Bitcoin to its coffer

  • Semler Scientific bought 185 BTC for $20 million in the ten days ending June 3. They paid around $107,974 per Bitcoin.
  • This purchase brings the company’s total holdings to 4,449 BTC.

UK proposes lifting retail crypto ETN ban

  • The Financial Conduct Authority has announced proposals to lift limitations on cryptocurrency exchange-traded notes (cETNs) for retail users.
  • This proposed change would align the UK with countries such as the U.S., Canada, Hong Kong, and the EU.

Metaplanet launches $5.3 billion Bitcoin acquisition plan

  • The Tokyo-listed business has revealed plans to issue 555 million shares through stock acquisition rights in order to buy more Bitcoin (BTC).
  • Thanks to this $5.3 billion endeavor, Metaplanet is now one of the biggest corporate Bitcoin treasury strategies outside of the US.

Yuga Labs proposes ending ApeCoin DAO governance

  • The inventor of Bored Apes proposed terminating the ApeCoin (APE) DAO governance structure in favor of a new operating paradigm.
  • CEO Greg Solano slammed the current structure in Thursday’s proposal, saying “ApeCoin DAO was a bold experiment, but one born of a different era” that has devolved into “sluggish, noisy, and often unserious governance theater.”

Singapore court rejects WazirX restructuring plan

  • The Singapore High Court declined WazirX’s proposed restructuring plan aimed at recovering from last year’s $230 million security exploit.
  • In Wednesday’s statement, WazirX revealed the court’s rejection and indicated the team is considering an appeal against the decision.

Robinhood completes Bitstamp acquisition

  • Robinhood has completed the purchase of Bitstamp, a cryptocurrency exchange based in Europe, for $200 million.

Ripple’s RLUSD gains Dubai regulatory approval

  • The Dubai Financial Services Authority has greenlighted Ripple’s U.S. dollar-pegged stablecoin RLUSD as a payment rail within the Dubai International Financial Centre.
  • This approval expands Ripple’s Middle Eastern footprint and provides additional utility for its stablecoin in a major regional financial hub.

Weekend Spotlight



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Crypto Trends

Bitcoin (BTC) Stays Firm as Trump-Musk Feud Escalates Over 2025 Budget Politics

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Bitcoin

held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.

On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”

Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.

Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.

Technical Analysis Highlights

  • BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
  • Strong support formed at $104,800, where above-average volume confirmed buyer interest.
  • Resistance at $105,200 was broken and has since flipped into a short-term support zone.
  • Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
  • A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
  • An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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NFT Gaming

Trump-Elon feud Erupts, Crypto falls, Coinbase to list Fartcoin

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Trump-Elon feud Erupts, Crypto falls, Coinbase to list Fartcoin

Trump-Elon feud Erupts, Crypto falls, Coinbase to list Fartcoin
FOMO HOUR EP373

FOMO HOUR brings you the biggest daily news, updates and events from inside and outside of the crypto and macro spheres! Join hosts Farokh, Mando and Tyler as they cover some of the biggest topics at present with some of the biggest names in the ecosystem. Streaming live 5 days per week, Monday to Friday 10:00 AM EST to 11:00 AM EST on YouTube and X.

Crypto drops then rebounds after Trump-Elon feud. DOGE, ADA & ETH lead decline in top 20 coins. Circle stock spikes 200% post IPO, trading halted. Strategy increases preferred stock issuance to $1bn. Metaplanet to issue $5.4b equity to buy BTC. Trump earned $1bn from crypto in last 9 months. Trump Media to raise up to $12bn to buy BTC. Robinhood flips Coinbase in market cap. Truth Social BTC, ETH ETF registered in Nevada. Uber evaluates accepting stablecoins for payments. CoinFlip exploring $1bn sales. Tether invests in Shiga Digital. Singapore to remove unlicensed blockchain firms. European APS buys $3.4m tokenized real estate. Taiwan’s BitoPro hacked for $11m+. Posta Romana to install BTC, crypto terminals.

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#bitcoin #crypto #podcast





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Dogecoin Price Turns Bearish As Elon Musk-Trump Feud Ignites Fear
GameFi Guides

Dogecoin Price Turns Bearish as Elon Musk-Trump Feud Ignites Fear

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The Dogecoin price records a drop of over 10% in valuation over the past seven days amid the setback faced between Elon Musk & Donald Trump. At the time of writing, the value of DOGE price was $0.179 with a trading volume of $1.63 billion. Moreover, with a market capitalization of $26.88 billion, this memecoin has secured the 08th position in the crypto market with a dominance of 0.8299%.

Check Dogecoin Price Technicals

The Bollinger Bands (BB) in the 4H time frame has displayed increased volatility as the bands are widening. Notably, the DOGE price chart recently touched the lower band near $0.17, suggesting increased selling pressure. The price has since rebounded and is approaching the midline.

With the DOGE memecoin heading toward its neutral zone, the price increase above this level might indicate that the market is heading towards growth.

Amid the rising volume, there has been a large drop in DOGE price. This highlights that investors are dumping their holdings of Dogecoin in a huge quantity. Increased volume highlights an increase in volatility, and decreases in the levels suggest weak bullish sentiment.

The Relative Strength Index (RSI) indicator fell into an oversold zone during the past week. Notably, it is currently valued at 39.75 and shows a rising trend pattern. This indicates improving market conditions in the four-hour time frame with a high possibility of a price reversal.

What’s Next for DOGE Price?

The Dogecoin price could retest its immediate resistance level of $0.183 if the bullish sentiment increases. If the momentum stays intact at that point in time, it could head toward its upper resistance levels of $0.200 and $0.217 in the upcoming time.

However, a rejection around $0.183 could pull back the value of this memecoin toward its crucial support of $0.165 this month.

Also Read: Ethereum Traders Lose $310M in 48 Hours, Will ETH Price Crash?



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Elon Musk’s Feud With President Trump Wipes $152 Billion Off Tesla’s Market Cap
Product Reviews

Elon Musk’s Feud With President Trump Wipes $152 Billion Off Tesla’s Market Cap

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It took only a few hours to wipe $152 billion of value from Tesla’s market cap and more than $100 million in value from TrumpCoin.

The end of the bromance between Elon Musk and President Donald Trump has been brewing for weeks, but on Thursday the breakup went nuclear. Musk took to the platform he owns, X, to lambast Trump’s “One Big Beautiful Bill,” which includes provisions that restrict immigration, limit green energy subsidies, and is estimated to increase the US deficit by $2.4 trillion. Trump shot back on Truth Social, the platform he owns, to say that Musk is against the bill only because it would take away electric vehicle tax credits that Musk’s company, Tesla, benefits from. It quickly devolved into dozens of posts, most of them from Musk, who claimed Trump is in the Epstein Files—which is, he claims, why they haven’t been made public.

Tesla’s stock is down roughly 14 percent at the time of writing, which is the biggest single-day hit to its market cap in years. Trump’s crypto coin is down nearly 10 percent.

This is a high-stakes divorce for everyone involved. Trump claimed he would terminate Musk’s governmental subsidies and contracts, which help rake in billions of dollars for companies like Tesla and SpaceX. In return, Musk posted that he would decommission SpaceX’s Dragon spacecraft, which is used by NASA to transport cargo and astronauts to the International Space Station, “immediately.” Steve Bannon, a Trump ally and vocal critic of Musk, told The New York Times that he “is advising the president to cancel all of Musk’s contracts and launch several investigations.”

“They should initiate a formal investigation of his immigration status because I am of the strong belief that he is an illegal alien, and he should be deported from the country immediately,” Bannon said. It has been reported that Musk may have lied on his visa forms, which would likely have made it illegal for him to work in the United States in the 1990s.

Tesla’s stock drop comes at a delicate time for the electric-vehicle maker. This month, the company is due to debut its long-awaited (and much-delayed) robotaxi service in Austin, Texas. Musk has said that investors should think of Tesla as a robotics and autonomous vehicle technology company rather than an electric automaker—putting its self-driving tech and humanoid robot ambitions, rather than new car models, at the center of its now $916 billion market capitalization. Bloomberg reported that the company has internally targeted next week for a launch. Musk has repeatedly claimed that his AI company, xAI, would also soon release a new model, though the launch has been delayed.

Tesla’s latest quarterly results, posted in April, were its worst in years as production, deliveries, and sales fell, particularly in Europe. The company has scaled down its ambitions to produce a more affordable electric vehicle, nixing plans to use new and advanced manufacturing techniques. Musk attempted to placate worried investors by announcing that he would leave his so-called Department of Government Efficiency (DOGE) post and return to his companies, including Tesla, mostly full-time.

Musk denied Thursday that his about-face on Trump has anything to do with electric vehicle subsidies. Musk has maintained since he joined Trump’s campaign that Tesla does not need federal tax credits, which can reach $7,500 per car, to sell its vehicles. But in an X post, Musk betrayed the first inklings of annoyance with Trump’s EV policy. “Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill,” he wrote.

Since February, thousands of protesters opposing Musk’s and Trump’s politics—everything from their climate stances to the actions of DOGE—have gathered outside of Tesla showrooms and service centers across the world. What began as a grassroots movement now has a central organization and a name: the Tesla Takedown. On Thursday afternoon, organizers put out a three-word statement: “Sell, Sell, Sell.”



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