The Big Story 

Elon Musk, the world’s richest man, may have made himself an enemy of the world’s most powerful leader.

© Evan Vucci, Associated Press

The public blowout between Musk and President Trump is threatening the tech billionaire’s businesses, some of which have billions of dollars’ worth of federal contracts. 

Musk’s aerospace company SpaceX alone reportedly has at least $22 billion in federal contracts — which Trump had threatened to revoke at the peak of his feud with his former adviser.

“Trump goes after people, companies and organizations he doesn’t like,” said Peter Loge, a political science professor at George Washington University and former senior FDA adviser during the Obama administration.

“As a real estate developer, politician and president, he has used every tool at his disposal to punish people he thinks have wronged him,” Loge added. “Unless Musk expresses contrition, Trump is likely to hurt him in every way he can think of. If Musk is contrite, he can be welcomed back into the Trump tent.” 

While the two could reconcile in the future, observers agree the dramatic turn of events leaves Musk’s business empire vulnerable to Trump’s wrath.  

Trump, at one point during Thursday’s back-and-forth, threatened to cut Musk’s government contracts as he called his former adviser “crazy.”  

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!” Trump wrote in a Truth Social post.  

Musk, in turn, said he would decommission SpaceX’s Dragon spacecraft, which is responsible for ferrying astronauts and cargo to and from the International Space Station. He later backed off, after an X user urged him to “cool off and take a step back.” 

The public exchange underscored how Musk’s business ventures could get caught in the crosshairs of any feud with the president, who is known to have a proclivity for retribution. 

“If this turns into a hot war, certainly, the consequences for Musk’s business relationship with the federal government could be in peril, or at least significantly complicated,” said GOP strategist and Trump campaign alum Brian Seitchik. 

Read more in a full report Saturday morning at TheHill.com

Welcome to The Hill’s Technology newsletter, we’re Miranda Nazzaro and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley.

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Essential Reads 

How policy will be impacting the tech sector now and in the future:

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World Liberty Financial to invest in Trump meme coin following crypto wallet dispute

Musk-Trump, from fast friends to breaking up: A timeline

The Refresh 

News we’ve flagged from the intersection of tech and other topics:

Crypto Corner 

Trump-tied crypto firms resolve wallet dispute

© AP Photo/Altaf Qadri

Welcome to Crypto Corner, a daily feature focused on digital currency and its outlook in Washington.

World Liberty Financial, a crypto venture launched by President Trump and his sons, plans to invest in the president’s meme coin, seemingly resolving a dispute between the two crypto firms tied to the Trump family. 

Eric Trump — who helps run World Liberty Financial alongside Donald Trump Jr. — announced Friday the $TRUMP token had “aligned” with the company and would no longer being moving forward with a crypto wallet, which had caused the rift between the two firms. 

“Although their meme wallet isn’t moving forward, they remain focused on building the most exciting MEME on earth – $Trump,” Eric Trump wrote in a post on X. 

“Moreover, we’re proud to announce that World Liberty Financial plans to acquire a substantial position in $TRUMP for their Long-Term Treasury,” he continued. “We share a bigger vision for crypto, patriotism, and long-term success. Stay tuned for more to come!” 

The team behind the meme coin initially announced Tuesday that they were launching a crypto wallet alongside Magic Eden, a nonfungible token (NFT) marketplace.  

However, the announcement sparked confusion as the president’s sons denied involvement in the project.  

World Liberty Financial reportedly sent cease-and-desist letters to both Magic Eden and Fight Fight Fight, the company behind $TRUMP, over the wallet, according to Bloomberg. 

However, the two firms appeared to have resolved their differences Friday. 

“The Trump meme and WLFI may be different lanes, but they share the same highway. Same values, same mission—amplifying American strength through innovation,” World Liberty Financial said in a post. 

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