Trump Criticizes Musk, Threatens to Cancel Federal Contracts

Donald Trump criticized Elon Musk, labeling him “crazy” and threatening to cancel federal contracts with his companies, including SpaceX and Starlink. This follows Musk's disapproval of a proposed tax bill, which he described as detrimental to the U.S. economy.

Trump accused Musk of turning against him after losing political influence.
Musk suggested Trump should be impeached, citing potential recession risks stemming from his trade policies.
Tesla shares fell nearly 14%, resulting in a loss of over $150 billion in market value.
Trump withdrew the nomination of Musk ally Jared Isaacman for a NASA position.
Musk's team members are leaving roles within the administration.

The conflict may alter political and business alliances in the U.S. Crypto markets remain stable despite developments involving both Trump and Musk.