Trump’s Political Circle Experiences Turmoil: Musk Turns Against Him, Family Infighting for Power and Profit

In the early hours of June 6, a political storm swept across the United States as Musk and Trump publicly clashed on social media, drawing global attention. Meanwhile, cracks also appeared within Trump's crypto empire, as various factions engaged in intense competition for discourse power.

The Public Showdown Between Musk and Trump

Musk suddenly posted on social media, suggesting that Trump is related to the Epstein case, causing a huge uproar. This statement is a response to Trump’s previous criticism. Trump had said that Musk made him "annoyed" and threatened to cancel government subsidies and contracts for Musk's company.

Musk retorted that without his support, Trump would lose the election and the Republican advantage in Congress would also be lost. This dispute stems from Trump withdrawing the nomination of Musk's ally for the position of NASA Administrator, as well as Musk publicly criticizing the "Beautiful Act" supported by Trump.

Musk warned that the bill would cause the U.S. fiscal deficit to surge to $2.5 trillion, placing a heavy burden on the American people. Some Republican lawmakers also sided with Musk, questioning the drafting and passage of the bill.

Power Struggles Within Trump's Crypto Empire

On the same day, the Trump family's DeFi project WORLD LIBERTY FINANCIAL issued a cease-and-desist order to the company behind the TRUMP token, involving the recently highly publicized Trump Wallet application.

Previously, the NFT trading platform MagicEden announced a collaboration with $TRUMP to launch the Trump Wallet, causing market fluctuations. However, Trump's children have denied any connection to the project. This incident reveals the internal divisions within the Trump crypto group.

Trump's crypto empire includes several projects, such as American Bitcoin, $TRUMP, $MELANIA, World Liberty Financial, and others. Behind these projects are different teams and interest groups, including Trump's old friend Bill Zanker, lawyer John Marion, former advisor Nick Luna, among others.

Internal Disputes and Competition within the Family

Donald Trump Jr. stated that WLFI will launch its own official wallet, competing with the project announced by MagicEden. Eric Trump even mentioned that the family will file a legal challenge against "$TRUMP Wallet".

WLFI was founded by real estate mogul Steve Witkoff and his son Zach Witkoff, with Trump's sons also involved. The company has reached an agreement with a certain enterprise to purchase $2 billion worth of stablecoin USD1, and the Trump family is expected to gain substantial profits from this.

Conclusion

The cryptocurrency business related to Trump is still developing. Truth Social has submitted a Bitcoin ETF application, $MELANIA has reached a liquidity provision agreement with Wintermute, and WLFI has also started airdropping USD1 to token subscribers. However, as market enthusiasm gradually wanes, some project teams seem to be gradually distancing themselves from the core circle of the Trump Group. This political and business dispute reflects the complex ecology of American politics and the crypto world, and the future direction is worth continued attention.