Elon Musk and Donald Trump Blowup Dings Crypto Prices
The crypto market is getting redder by the minute as the spat between U.S. President Donald Trump and Tesla CEO Elon Musk intensifies.
Late in the U.S. day, bitcoin
was down more than 4% to $100,500, threatening to dip back into five digits for the first time in a month.
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for exchange coins, memecoins and stablecoins — is down more than 5% in the same period of time. SOL and SUI are notable underperformers, printing losses of more than 7%.
Coinbase (COIN) lost 4.6%, Strategy (MSTR) slid 2.4% on Thursday, while a few miners including MARA Holdings (MARA), Riot Platforms (RIOT) and Core Scientific (CORZ) suffered 5% losses.
Musk and Trump’s…
