A heated feud between Musk and Trump spawned KILL BIG BEAUTIFUL BILL, a memecoin that hit a market cap of over $53 million as traders piled into the hype.
The feud between the two powerhouses has been simmering for weeks, but it finally boiled over after Musk publicly broke away from the Department of Government Efficiency (D.O.G.E.), the Trump-backed initiative he once led.
Musk breaks with Trump over ‘Big Beautiful Bill’
Musk took to X on Tuesday to voice his frustrations, accusing Trump’s new “One Big Beautiful Bill” of reversing all the cost-cutting progress made by the department. In typical Musk fashion, he didn’t hold back, calling the legislation a “disgusting, massive, outrageous, pork-filled abomination” and warning his followers that it could ruin the country’s fiscal health.
The Big Beautiful Bill, at the centre of this clash, was passed by the House last month and is touted by the Trump administration as a sweeping reform package intended to stimulate economic growth. It includes large tax breaks, boosts to military spending, and welfare cuts that Trump claims will ultimately save the nation trillions of dollars.
White House economists say the bill’s benefits will outweigh its costs, but the Congressional Budget Office disagrees, estimating that it could add $2.4 trillion to the national deficit over the next decade. That projection alone made Musk’s blood boil, especially since he claims DOGE had already saved $180 billion through aggressive budget reforms.
For Musk, the bill effectively erased the hard-won victories of D.O.G.E., which was created right after Trump’s inauguration as a pet project to slash wasteful government spending.
Musk had served as the face of the initiative, but with the new bill’s runaway spending and subsidies, Musk believes the entire mission has been undermined.
Memecoins take center stage
Within hours of Musk’s post slamming the bill, Pump.fun traders seized the opportunity and launched a new memecoin on Solana dubbed the KILL BIG BEAUTIFUL BILL (KBBB).
Memecoin traders piled in as KBBB surged to a $53.12 million market cap in just nine hours, before cooling off with a 30% correction to around $36.73 million.
A wave of Musk-themed memecoins popped up overnight on Solana-based DEXs. Some of the top performers include MUSK DOGE, X ELON, PEDO FILES, and ELON’S LAST STAND, several of which have already crossed multi-million-dollar market caps.
Tokens themed around Trump, including TRUMP420 and BIG BILL 2025, have also gained traction, turning the entire feud into a full-blown memecoin arms race.
Trump ends ties with Musk
Things escalated further when Musk suggested that Trump had ties to Jeffrey Epstein. In a series of tweets, Musk claimed the President’s name appeared in unreleased Epstein files and implied that this connection was the real reason those documents remained sealed.
Musk has also supported calls for Trump’s impeachment during his late-night posting spree.
Reacting to the accusations, Trump said he was “deeply disappointed” in Musk, claiming he had “done more for that guy than anyone else.” He also suggested that Musk’s outrage was driven by the bill’s plan to phase out EV subsidies, a move that could significantly impact Tesla.
Trump has since spoken of Musk in the past tense and implied their political partnership is over, signaling a clear break in their once-close alliance.
The fallout has extended beyond crypto. Dogecoin (DOGE), Musk’s longtime favourite, fell over 9% following the clash, while Tesla dropped 15% amid concerns that Musk’s political skirmishes could distract from his business priorities.
Even Trump-themed coins took a hit on Wednesday, with the President’s official meme token, Official Trump (TRUMP), dipping over 10%. Others, such as MAGA (TRUMP) and MAGA Hat (MAGA), also slipped by 6.4% and 5.5%, with the broader PolitiFi market seeing a 10% drop in response.
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