CoinEx’s May 2025 Report.
Just in crypto market, an online argument just wipe out $150 billion and crash Bitcoin? What started as a few angry posts has now turned into a political tech war — and somehow, crypto, Tesla, and even NASA are caught in the blast.
Here’s what we got for you today:
⭐ 5 Things You Shouldn’t Miss
🚨 Heads up, Binance is adding a Monitoring Tag to the following tokens: $BIFI.X ( ▼ 4.99% ) , $FIS.X ( ▼ 4.1% ) , $KMD.X ( ▲ 9.84% ) , $MDT.X ( ▲ 1.24% ) . These tokens are now under close watch. Tokens with the Monitoring Tag are often at risk of being delisted and can show high price volatility. Binance might take further action if these projects don’t meet its standards.
🚀 After years of chasing the IPO dream, Circle has finally gone public on the New York Stock Exchange under the ticker $CRCL ( ▲ 168.48% ) . The IPO was a big one: Raised $1.05B + Priced at $31/share, above expectations. Total valuation: ~$8 billion. Backed by J.P. Morgan, Citigroup, and Goldman Sachs.
📉 Solana just went through a brutal sell-off: around 3 million $SOL.X ( ▼ 2.75% ) , worth $468M, were dumped in just 3 days, dragging the price down to $150. That’s a sign sellers are in full control right now. But if buyers step in and reclaim the $161 level, we might see a recovery back to $168.
🎯 Trump family has ordered the shutdown of the “TRUMP Wallet” project, co-developed by Magic Eden. WLF is likely launching their own crypto wallet. So when they saw another one pop up using “TRUMP,” they pulled the plug. $TRUMP.X ( ▼ 9.75% ) memecoin price tanked. Magic Eden’s token $ME.X ( ▼ 1.38% ) also dropped. And… someone from WLF was caught shorting TRUMP on Hyperliquid. (He says it was “just a hedge” Uh-huh.)
ogle(@cryptogle), the advisor of @worldlibertyfi, deposited 1M $USDC to Hyperliquid and shorted $TRUMP with 10x leverage 5 hours ago.
The liquidation price is $12.49.
hypurrscan.io/address/0x70F6…
— Lookonchain (@lookonchain)
1:55 AM • Jun 6, 2025
💸 Global companies are adding XRP to their financial reserves, including Webus (China) with $300M, VivoPower with $221M,… But XRP has crashed 80%+ during past market crashes (2018, 2021), the number of validators is still limited. Some analysts warn companies may be using crypto buys to pump stock prices.
Here’s how it’s gonna go with PCVs (Public Crypto Vehicles).
Microstrategy started it.
The game was simple: access capital markets to acquire Bitcoin. Then leverage financial engineering to generate a premium on the underlying BTC.
And they nailed this. Say what you want
— Yano 🟪 (@JasonYanowitz)
1:32 PM • May 27, 2025
🚨 Musk vs. Trump: The Feud That Shook Wall Street: $150B Gone
The market turns red as the drama between Trump and Elon Musk officially erupts. It’s no longer just subtle jabs, Trump and Elon Musk are officially calling each other out by name on social media, and markets are reacting fast.
The drama ignited over a proposed $1.6 trillion spending cut bill. As the drama unfolded, crypto and tech stocks plunged, signaling fear of political instability.
→ Tesla lost $150B in value. Bitcoin crashed to a 1-month low.
1️⃣ Trump and Musk Go to War: From Friends to Enemies
The tension began during Musk’s 4-month stint on the Department of Government Efficiency (DOGE) – a Trump-led initiative to slash public spending. While DOGE claimed it cut $180B in waste, it was far short of the $2 trillion goal they had promised.
Then came the Big Beautiful Bill Act: Musk openly turned against Trump’s mega budget bill, saying it would add trillions to national debt and wipe out the progress DOGE made.
He didn’t hold back, calling the bill a “setback disguised as a victory.”
I’m sorry, but I just can’t stand it anymore.
This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.
Shame on those who voted for it: you know you did wrong. You know it.
— Elon Musk (@elonmusk)
5:31 PM • Jun 3, 2025
By the end of May, Musk exited the White House — no next steps for DOGE, no formal closure. Just silence… until now. Musk is on the offensive, on his own turf.
Over the last 48 hours, he’s been using X to rally the public against the bill. His posts call for mass opposition and claim the U.S. is being pushed “deeper into the debt trap.”
He even dug up old quotes from Trump himself — back when Trump criticized raising the debt ceiling. Musk reposted them on X, calling them “wise words”… with a big dose of sarcasm.
Where is this guy today??
— Elon Musk (@elonmusk)
4:44 PM • Jun 5, 2025
This back-and-forth just turned personal and public. And reporters asked President Trump directly about Elon Musk’s recent criticism of his budget bill.
His response? A cryptic remark full of subtext — no names mentioned, but everyone knew who he was talking about.
Trump on Elon Musk: “You saw a man who was very happy when he stood behind the Oval desk. Even with a black eye. I said, do you want a little makeup? He said, ‘No, I don’t think so,’ which is interesting … Elon and I had a great relationship. I don’t know if we will anymore.”
— Aaron Rupar (@atrupar)
4:06 PM • Jun 5, 2025
As Trump spoke live on TV, Elon Musk fired off a series of sharp posts on X (without him, Trump would have lost the election)
Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.
— Elon Musk (@elonmusk)
4:46 PM • Jun 5, 2025
Trump clapped back instantly on Truth Social, his own social media app, attacking Musk by name.
But things escalated fast:
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Musk accused Trump of being linked to Jeffrey Epstein’s scandals — the ultimate low blow.
Time to drop the really big bomb:
@realDonaldTrump is in the Epstein files. That is the real reason they have not been made public.
Have a nice day, DJT!
— Elon Musk (@elonmusk)
7:10 PM • Jun 5, 2025
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He threatened to halt all Dragon spacecraft launches from SpaceX if the U.S. government cuts contracts with his companies — which could leave NASA scrambling.
In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately
— Elon Musk (@elonmusk)
8:09 PM • Jun 5, 2025
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He also slammed Trump’s tariff policies as outdated and harmful.
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And to top it all off, Musk announced he’s considering launching his own political party to represent the middle class and break up the two-party dominance in America.
Meanwhile, political analysts and the American public are left in disbelief — watching the country’s top power figures trade blows like a reality show, instead of leading with stability and vision.
2️⃣ Markets are Shaking as the Musk–Trump Feud Gets Real
Since Elon Musk and Donald Trump started trading shots in public, the financial markets are feeling the heat, and it’s not looking good.
🚗 Tesla (TSLA) took the biggest hit
On June 5th, $TSLA ( ▼ 14.26% ) stock plummeted over 14%, wiping out more than $150 billion in market value — all in one day. Experts warn that this public feud could continue to drag down Musk-owned companies, especially if tensions escalate further.
SpaceX might be next → If the U.S. government pulls back contracts, SpaceX’s valuation could be slashed in half, losing its most critical customer overnight.
📉 Wall Street isn’t ignoring the drama
Major U.S. stock indices closed the day slightly down, showing just how fragile investor sentiment is when political and business titans collide.
💥 Crypto’s feeling it too → Bitcoin crashed from $105,900 to $100,400, its lowest in nearly a month.
Top altcoins dropped between 5% to 20%, flooding the charts in red this morning.
Over $979 million in crypto derivatives got liquidated in the past 24 hours, with 90% of that from long positions — most of it happening right after the Musk–Trump fallout began.
When two of America’s most powerful figures go head-to-head, no market is safe. And, the slogan “Kill the Bill” — aimed at opposing Trump’s massive budget proposal — is now being used to name and promote multiple meme coins launched today, especially on Solana DEXs.
Meanwhile, Dogecoin, Musk’s long-time favorite, is taking a hit. The market is reacting to Musk’s falling out with Trump, and $DOGE.X ( ▼ 6.96% ) isn’t immune.
Throwback: Back in 2022, Trump claimed that Musk would “beg on his knees” for government subsidies, a jab that’s aged poorly now that tensions have exploded publicly.
The bad blood looks unlikely to settle anytime soon… and if this continues, memecoins might not be the only casualties.
On Polymarket, the decentralized prediction platform, a whole section titled “Trump vs Elon” has gone live… and it’s pure entertainment meets market speculation.
While the market bleeds red, retail investors are doubling down on memecoins and betting markets like it’s the World Cup of Chaos.
Amid the noise, Elon actually responded in agreement with Bill Ackman, saying he and Trump should reconcile, hinting that they’re stronger on the same side. He also gave a nod to a random X user’s suggestion: maybe it’s time for Elon to step back and let the heat die down.
JUST IN: Elon Musk agrees that he and President Trump should “make peace” for the benefit of the country in a reply to Bill Ackman.
Bill Ackman may have just done it again.
— Collin Rugg (@CollinRugg)
1:34 AM • Jun 6, 2025
🔥 CoinEx’s May 2025 Report: Bitcoin ATH Ain’t Alt Szn
May was the month Bitcoin soared to a new all-time high of $112,000, fueled by institutional demand and ETF inflows. But even with BTC breaking records, the long-awaited “altcoin season” never came.
CoinEx’s latest monthly report doesn’t just recap market activity, it delivers a clear message: altcoins are still on the sidelines, and might stay there for a while. So what’s happening behind the scenes? Here are the report’s key insights:
1️⃣ No Altcoin Season Yet – BTC Dominance at 65%
May 2025 was huge for Bitcoin. I said it again and again, but just to remind you that $BTC.X ( ▼ 0.82% ) surged from $94,000 to an all-time high of $112,000 on May 22. Then it cooled off to around $105,000 as investors took profits, but the rally was undeniably historic.
What fueled this climb?
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Trump Media & Technology Group announced a $2.5B fund to invest in Bitcoin.
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Bitcoin ETFs went on a $5.2B buying spree, bringing total ETF purchases to over $44 billion in the last 18 months.
Source: CoinEx Report
But here’s the catch… While Bitcoin soared, altcoins were left behind.
BTC Dominance hit 65%, meaning Bitcoin now holds an overwhelming share of total crypto market value.
Source: CoinEx Report
👉 This suggests most of the capital is still flowing into BTC, not into other tokens.
And according to technical analysis, Bitcoin Dominance shows no signs of dropping — so the long-awaited altcoin season may be on hold for now.
2️⃣ Ethereum’s Pectra Upgrade Activated
On May 7, Ethereum successfully activated the much-anticipated Pectra upgrade at block #364032.
Source: CoinEx Report
Pectra brings key enhancements to the Ethereum network:
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Scalability: More efficient processing and lower congestion.
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Security: Improved protections across the network.
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Performance: Faster execution and reduced latency.
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User Experience: Smoother interactions for both developers and users.
Ethereum remains the go-to platform for smart contracts. With Bitcoin stealing the spotlight lately, Pectra quietly reinforces ETH’s long-term strength, particularly as competition heats up from fast L1s like Solana and emerging rollups.
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