Tesla Stock Plunge After Musk-Trump Feud Spurs BiyaPay USDT Trading Surge
Tesla’s stock experienced a significant drop of over 14% after a public dispute between CEO Elon Musk and former U.S. President Donald Trump regarding proposed cuts to electric vehicle tax credits. Trump’s so-called "Big and Beautiful Act" would remove key incentives for electric vehicles, directly impacting Tesla’s fiscal outlook. This political tension triggered a sharp sell-off on June 5th, wiping out more than $150 billion from Tesla’s market capitalization before a brief technical rebound. Notably, traders on BiyaPay, a crypto trading platform, quickly took advantage of the heightened volatility by converting USDT to USD and shorting Tesla stock—without the need for offshore accounts. The incident highlights the growing integration of crypto tools such as USDT in traditional equity markets, increasing trader agility and access during periods of political and economic uncertainty. For crypto traders, this event underscores the importance of monitoring regulatory and policy moves impacting both traditional tech stocks and their derivatives in the crypto markets.
Bearish
The combination of negative fiscal policy developments for Tesla, a major public CEO dispute, and the rapid downturn in Tesla’s stock triggered accelerated market volatility and risk-off sentiment. This led to a sharp decline in the associated equity and prompted crypto traders to use USDT for quick, opportunistic trades—particularly short-selling. Historically, events that trigger uncertainty and significant losses in large tech stocks have a contagion effect on related derivative and cryptocurrency markets, often resulting in price declines or increased volatility for related tokens and assets. The use of USDT in facilitating swift moves during this selloff underscores its pivotal role in leveraged trading strategies, but overall the nature of the news is bearish for both Tesla assets and correlated crypto instruments in the immediate term.