COINOTAG News reports a significant deterioration in the relationship between Elon Musk and former US President Donald Trump, marked by a public exchange of sharp criticisms on social media. The dispute originated from Musk’s opposition to the Trump administration’s proposed “Big and Beautiful Act,” which Musk argued would exacerbate the fiscal deficit by cutting electric vehicle tax credits, adversely impacting Tesla’s financial outlook. This political clash has had immediate repercussions in the stock market, with Tesla shares experiencing a dramatic sell-off amid investor concerns about the company’s future performance.
On June 5th, Tesla’s stock experienced a steep intraday decline exceeding 17%, closing down more than 14%, resulting in a market capitalization loss surpassing $150 billion. This sharp downturn drew attention from BiyaPay users, who leveraged the platform’s seamless USDT to USD conversion and direct access to US stock trading to short Tesla shares. The platform’s liquidity and trading flexibility enabled investors to capitalize on the volatility, demonstrating the growing importance of integrated crypto-to-stock trading solutions in navigating market turbulence.
The BiyaPay platform’s ability to facilitate rapid currency conversion and stock transactions without requiring offshore accounts has empowered users to respond swiftly to market shifts. This event underscores the increasing demand for diversified investment tools that bridge cryptocurrency and traditional equity markets, offering global investors enhanced opportunities to manage risk and optimize returns amid geopolitical and economic uncertainties.