- Elon Musk issued a public apology after days of personal attacks on Donald Trump, following a feud sparked by Musk’s criticism of Trump’s Senate-backed bill.
- Trump retaliated with insults on Truth Social, though both parties hinted at possible reconciliation.
- Dogecoin surged 6.3 % shortly after, but another catalyst is the growing ETF speculation.
After accusing Donald Trump of being in the Epstein files, Elon Musk has backed down from his political clash against the president, posting a rather rare public apology after days of escalating attacks.
The admission comes less than a week after Trump publicly criticised Musk for opposing his Senate-backed “Big, Beautiful Bill”, a legislative centerpiece of the administration.
Musk responded by launching a barrage of personal insults, triggering a brief but intense conflict between two of the most prominent figures in the US, which many view as a childish and embarrassing moment for American politics and business.
As expected, Trump fired back on Truth Social, accusing Musk of betrayal and mocking his leadership at Tesla and X.
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While Musk’s Wednesday statement is the first sign of de‐escalation since the feud erupted, he actually tried to diffuse tensions on the very day it began. Moreover, Trump said in a pre-recorded interview that he was open to reconciliation, suggesting the fallout might not be permanent.
Dogecoin Surges, and Falls Back
Dogecoin surged past the US$0.19 (AU$0.29) resistance on Wednesday, climbing 6.32 % to an intraday high of US$0.20 (AU$0.31) before retreating slightly to US$0.1923 (AU$0.30). The move was backed by a sharp spike in trading volume, which hit US$1.65B (AU$2.54B), an 827 % increase from the previous day.
Another tailwind came from renewed speculation around a potential DOGE ETF. Bloomberg’s Eric Balchunas revised his probability estimates, placing Dogecoin’s odds of approval above other altcoins like Cardano (ADA) and Polkadot (DOT).
While DOGE has long been treated as a retail-driven meme token, its futures market, which is already under CFTC oversight, offers an anchor that could satisfy the SEC, given that this is an underlying market structure requirement.
For a coin often dismissed as a joke, an ETF conversation alone marks a notable shift in how the market is starting to frame the coin’s trajectory.
Related: Australian Money Laundering Scheme Busted: A$190M Converted to Crypto
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