Trump-backed $TRUMP tumbled 9.50% in the last 24 hours to trade at $9.82 at press time. The coin, which is a namesake meme token for the former president, is now down 87% from its all-time high on Inauguration Day.

在過去的24小時內，特朗普支持的$特朗普在發稿時以9.82美元的價格跌跌9.50％。這款硬幣是前總統的同名模因象徵，現在比就職日的歷史最高點下降了87％。

The market behemoth faced a triple whammy with Trump’s threat to cancel federal subsidies and contracts for Musk’s companies, and the tech mogul’s integration of the former president’s tax plan in a new crypto project.

市場龐然大物面臨三重打擊，特朗普威脅要取消馬斯克公司的聯邦補貼和合同，以及科技大亨將前總統稅收計劃整合到一個新的加密項目中。

This thinly veiled threat rattled investors who had long bet on Musk’s close ties to Washington and sparked a 14% plunge in Tesla (NASDAQ:TSLA) stock, wiping out $150 billion in market value.

這種薄薄的威脅使投資者長期以來一直在穆斯克與華盛頓的緊密聯繫，並在特斯拉（納斯達克：TSLA）的股票中引發了14％的險，削減了1500億美元的市值。

Some of the drop may be attributed to regulatory uncertainty around Tesla’s upcoming robotaxi program, but analysts believe the feud with Trump was a significant trigger for the stock's decline.

其中一些下降可能歸因於特斯拉即將舉行的Robotaxi計劃周圍的監管不確定性，但分析師認為，與特朗普的仇恨是該股下降的重大觸發因素。

"There is a fear that Trump is not going to play Mr. Nice Guy," said Dan Ives, a tech analyst at Wedbush Securities. "If you start to heighten the regulatory environment, that could delay Tesla's roadmap for autonomous driving."

Wedbush Securities的技術分析師丹·艾夫斯（Dan Ives）說：“人們擔心特朗普不會扮演好人。” “如果您開始加強監管環境，這可能會延遲特斯拉的自動駕駛路線圖。”

In after-hours trading, Tesla stock saw a modest 0.8% rebound, but the damage had been done.

在下班後的交易中，特斯拉股票的反彈率為0.8％，但損失已經造成。

Meanwhile, the market reacted to the crypto project, in which Musk integrated his signature and Trump’s tax plan in a new STEPN derivative, with a 360% surge in a satirical coin named "Kill Big Beautiful Bill" on Pump.fun.

同時，市場對加密項目做出了反應，馬斯克將其簽名和特朗普的稅收計劃融入了新的Stepn衍生品，在諷刺幣上激增了360％的諷刺硬幣，名為“殺死Big Beautiful Bill”。

The project aims to raise funds for a Trump campaign contribution, highlighting the rapid mobilization of crypto communities towards political causes.

該項目旨在為特朗普的競選捐款籌集資金，強調加密社區迅速動員政治事業。

Meme coin volatility highlights market fragilitySharp declines in $TRUMP and Dogecoin are a stark reminder of how susceptible meme coins are to sentiment and social media-driven volatility.

模因硬幣的波動強調了市場脆弱性sharp的下降$ trump和dogecoin，這是一個明顯地提醒人們對情感和社交媒體驅動的波動的敏感模因硬幣如何。

Kevin Rusher, founder of Real World Asset, described the market's reaction as both "annoying and revealing."

現實世界資產的創始人凱文·拉什（Kevin Rusher）將市場的反應描述為“煩人和揭露”。

"It's annoying because we're still letting loud personalities move the market," Rusher said. "Revealing, because it shows the crypto ecosystem is still fragile and in desperate need of liquidity."

Rusher說：“這很煩人，因為我們仍然讓大聲的個性轉移市場。” “揭示，因為它表明加密生態系統仍然脆弱，並且迫切需要流動性。”

While Bitcoin (BTC) was relatively more stable, dipping just under 2% to trade around $105,023 at press time, some analysts warn that the ongoing uncertainty could lead to further short-term pain.

儘管比特幣（BTC）相對穩定，但在發行時間，跌價不到2％的交易量不足2％，但一些分析師警告說，持續的不確定性可能導致進一步的短期疼痛。

"Bitcoin is testing the $100,000 support level," noted Nic Puckrin, founder of Coin Bureau. "If we see a break below, there could be more downside. That said, a close above $102,000 would suggest the worst of the sell-off is behind us."

Coin Bureau的創始人Nic Puckrin指出：“比特幣正在測試100,000美元的支持水平。” “如果我們在下面看到休息時間，可能會有更多的缺點。也就是說，超過102,000美元的收盤價將表明最糟糕的售罄在我們身後。”

The Trump-Musk fallout is more than a billionaire brawl—it's a collision of politics and markets.

特朗普·穆斯克（Trump-Musk）的影響不僅僅是億萬富翁的鬥毆，這是政治和市場的碰撞。

Tesla's recent stock gains were largely driven by investor optimism that the Trump administration would support autonomous vehicle innovation. Musk's public distancing from Trump and vocal criticism of government policies have now called that support into question.

特斯拉最近的股票收益在很大程度上受到投資者的樂觀，特朗普政府將支持自動駕駛汽車創新。馬斯克的公眾與特朗普的疏遠以及對政府政策的聲音批評現在受到了質疑。

This fusion of political will and market stability is at the heart of the ongoing drama.

政治意志和市場穩定的這種融合是正在進行的戲劇的核心。

Trump’s namesake meme coin, $TRUMP, plunged nearly 10% in 24 hours and is now down 87% from its all-time high on Inauguration Day. Similarly, Dogecoin (DOGE), often associated with Musk, dropped 6% on the same day, continuing its long descent from its peak in 2021.

特朗普的同名模因硬幣，特朗普$，在24小時內跌幅近10％，現在比就職典禮那天的歷史最高點下降了87％。同樣，狗狗（Dogecoin（Doge）通常與麝香有關，同一天下降了6％，從2021年的峰值開始長期下降。

"The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts, " Trump posted on Truth Social, implying potential federal action against Musk's companies.

特朗普在“真相社會”上發布了《真相》，這意味著對馬斯克公司的潛在行動。

This thinly veiled threat rattled investors who had long bet on Musk’s close ties to Washington and sparked a 14% plunge in Tesla stock, wiping out $150 billion in market value.

這種薄薄的威脅使投資者長期以來一直在穆斯克與華盛頓的緊密聯繫，並引發了特斯拉股票的14％險，從而消除了1500億美元的市場價值。

Some of the drop may be attributed to regulatory uncertainty around Tesla's upcoming robotaxi program, but analysts believe the feud with Trump was a significant trigger for the stock's decline.

其中一些下降可能歸因於特斯拉即將舉行的Robotaxi計劃周圍的監管不確定性，但分析師認為，與特朗普的仇恨是該股下降的重大觸發因素。

"There is a fear that Trump is not going to play Mr. Nice Guy," said Dan Ives, a tech analyst at Wedbush Securities. "If you start to heighten the regulatory environment, that could delay Tesla's roadmap for autonomous driving."

Wedbush Securities的技術分析師丹·艾夫斯（Dan Ives）說：“人們擔心特朗普不會扮演好人。” “如果您開始加強監管環境，這可能會延遲特斯拉的自動駕駛路線圖。”

In after-hours trading, Tesla stock saw a modest 0.8% rebound, but the damage had been done.

在下班後的交易中，特斯拉股票的反彈率為0.8％，但損失已經造成。

Meanwhile, the market reacted to the crypto project, in which Musk integrated his signature and Trump's tax plan in a new STEPN derivative, with a 360% surge in a satirical coin named "Kill Big Beautiful Bill" on Pump.fun.

同時，市場對加密項目做出了反應，馬斯克將其簽名和特朗普的稅收計劃融入了新的Stepn衍生品，在諷刺幣上激增了360％的諷刺硬幣，名為“殺死Big Beautiful Bill”。

The project aims to raise funds for a Trump campaign contribution, highlighting the rapid mobilization of crypto communities towards political causes.

該項目旨在為特朗普的競選捐款籌集資金，強調加密社區迅速動員政治事業。

"We

“我們