According to Fox News (@FoxNews), the White House Press Secretary responded directly to Elon Musk's public criticism of President Trump and the federal spending bill, following Musk's departure as the head of DOGE policy at the White House. The official statement addressed Musk's remarks but did not indicate any immediate policy changes regarding cryptocurrency regulation or DOGE-related initiatives. This response signals maintained governmental stability in crypto policy, which is likely to reassure traders concerned about regulatory volatility. The clarification from the White House reduces uncertainty for DOGE and broader crypto markets, as there are no unexpected shifts in federal crypto oversight at this time (Source: Fox News, June 6, 2025).

According to The Kobeissi Letter, Elon Musk publicly refuted President Trump’s statements, clarifying that the spending bill was never shown to him and was passed 'in the dead of night' (source: The Kobeissi Letter via Twitter, June 5, 2025). This high-profile disagreement raises uncertainty in traditional markets, which may drive increased volatility in crypto assets as investors seek alternative hedges. Traders should monitor Bitcoin and Ethereum for potential volatility spikes following this political rift, as historically, legislative uncertainties and prominent tech figure involvement have spurred increased trading activity in major cryptocurrencies.

According to The Kobeissi Letter, even after implementing 'safety net' budget cuts, the latest US spending bill is projected to add approximately $3 trillion to the national debt over the next decade. Factoring in incremental interest expenses, especially with rising rates, the total increase could reach nearly $5 trillion by 2035 (source: The Kobeissi Letter, Twitter, June 3, 2025). For cryptocurrency traders, this significant fiscal expansion may fuel concerns over USD devaluation and rising inflation, both of which historically drive increased demand for Bitcoin and other digital assets as alternative stores of value. Monitoring US fiscal policy developments is increasingly critical for crypto market participants seeking to capitalize on macro-driven volatility.

According to Edward Dowd, the current version of the spending bill lacks meaningful budget cuts and should not be approved in its present state (source: @DowdEdward on Twitter, May 21, 2025). For cryptocurrency traders, this highlights ongoing fiscal policy uncertainty in the US, which historically contributes to market volatility and influences Bitcoin and altcoin price movements as investors seek hedges against potential inflation and fiscal instability. Close monitoring of legislative developments is advised for crypto market participants.