- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
BiyaPay Analyst: Tesla Drops 7%, Musk Forms "American Party," Completely Offends Trump
BlockBeats News, July 8th, Tesla's stock price fell by 7%, one of the reasons being the political disagreement with Trump. Musk announced the establishment of the "American Party," a move that signaled a complete rupture in his political alliance with Trump. This change was directly triggered by Musk's intense conflict with Trump over the "Big Beautiful Act," which is expected to further increase U.S. debt, a proposition Musk strongly opposes.
Musk's "American Party" plans to participate in the 2026 midterm elections, aiming to influence congressional decisions by vying for a few key seats, adopting a strategy different from traditional parties, focusing on 2-3 Senate seats and 8-10 House districts. Musk's political ideology includes reducing debt spending, promoting AI technology development, relaxing regulations, etc., addressing public dissatisfaction with current policies.
Meanwhile, Tesla is facing several challenges, such as older versions of Tesla models possibly being unable to use the Full Self-Driving (FSD) feature and facing a collective lawsuit in the Chinese market. Owners are demanding refunds of FSD fees or hardware upgrades for their vehicles, which could cost Tesla billions in refunds or upgrade expenses.
For investors, this series of events undoubtedly affected market sentiment. As for BiyaPay users, the platform offers USDT trading services for U.S. and Hong Kong stocks, enabling users to conveniently participate in the global stock market without the need for an offshore account, allowing real-time stock trading. Through BiyaPay, users can enjoy zero transaction fees for spot and contract trading, and leverage the platform's efficient, transparent trading system to better cope with market fluctuations.
You may also like
Russia’s Largest Bitcoin Miner BitRiver Faces Bankruptcy Crisis – What Went Wrong?
Key Takeaways BitRiver, the largest Bitcoin mining operator in Russia, faces a bankruptcy crisis due to unresolved debts…
Polymarket Predicts Over 70% Chance Bitcoin Will Drop Below $65K
Key Takeaways Polymarket bettors forecast a 71% chance for Bitcoin to fall below $65,000 by 2026. Strong bearish…
BitMine Reports 4.285M ETH Holdings, Expands Staked Position With Massive Reward Outlook
Key Takeaways BitMine Immersion Technologies holds 4,285,125 ETH, which is approximately 3.55% of Ethereum’s total supply. The company…
US Liquidity Crisis Sparked $250B Crash, Not a ‘Broken’ Crypto Market: Analyst
Key Takeaways: A massive $250 billion crash shook the cryptocurrency markets, attributed largely to liquidity issues in the…
Vitalik Advocates for Anonymous Voting in Ethereum’s Governance — A Solution to Attacks?
Key Takeaways Vitalik Buterin proposes a two-layer governance framework utilizing anonymous voting to address collusion and capture attacks,…
South Korea Utilizes AI to Pursue Unfair Crypto Trading: Offenders Face Severe Penalties
Key Takeaways South Korea is intensifying its use of AI to crack down on unfair cryptocurrency trading practices.…
Average Bitcoin ETF Investor Turns Underwater After Major Outflows
Key Takeaways: U.S. spot Bitcoin ETFs hold approximately $113 billion in assets, equivalent to around 1.28 million BTC.…
Japan’s Biggest Wealth Manager Adjusts Crypto Strategy After Q3 Setbacks
Key Takeaways Nomura Holdings, Japan’s leading wealth management firm, scales back its crypto involvement following significant third-quarter losses.…
CFTC Regulatory Shift Could Unlock New Opportunities for Coinbase Prediction Markets
Key Takeaways: The U.S. Commodity Futures Trading Commission (CFTC) is focusing on clearer regulations for crypto-linked prediction markets,…
Hong Kong Set to Approve First Stablecoin Licenses in March — Who’s In?
Key Takeaways Hong Kong’s financial regulator, the Hong Kong Monetary Authority (HKMA), is on the verge of approving…
BitRiver Founder and CEO Igor Runets Detained Over Tax Evasion Charges
Key Takeaways: Russian authorities have detained Igor Runets, CEO of BitRiver, on allegations of tax evasion. Runets is…
Crypto Investment Products Struggle with $1.7B Outflows Amid Market Turmoil
Key Takeaways: The recent $1.7 billion outflow in the crypto investment sector represents a second consecutive week of…
Why Is Crypto Down Today? – February 2, 2026
Key Takeaways: The crypto market has seen a downturn today, with a significant decrease of 2.9% in the…
Nevada Court Temporarily Bars Polymarket From Offering Contracts in the State
Key Takeaways A Nevada state court has temporarily restrained Polymarket from offering event contracts in the state, citing…
Bitcoin Falls Below $80K As Warsh Named Fed Chair, Triggers $2.5B Liquidation
Key Takeaways Bitcoin’s price tumbled below the crucial $80,000 mark following the announcement of Kevin Warsh as the…
Strategy’s Bitcoin Holdings Face $900M in Losses as BTC Slips Below $76K
Key Takeaways Strategy Inc., led by Michael Saylor, faces over $900 million in unrealized losses as Bitcoin price…
Trump-Linked Crypto Company Secures $500M UAE Investment, Sparking Conflict Concerns
Key Takeaways A Trump-affiliated crypto company, World Liberty Financial, has garnered $500 million from UAE investors, igniting conflict…
Billionaire Michael Saylor’s Strategy Buys $75M of More Bitcoin – Bullish Signal?
Key Takeaways Michael Saylor’s firm, Strategy, has significantly increased its Bitcoin holdings by acquiring an additional 855 BTC…
Russia’s Largest Bitcoin Miner BitRiver Faces Bankruptcy Crisis – What Went Wrong?
Key Takeaways BitRiver, the largest Bitcoin mining operator in Russia, faces a bankruptcy crisis due to unresolved debts…
Polymarket Predicts Over 70% Chance Bitcoin Will Drop Below $65K
Key Takeaways Polymarket bettors forecast a 71% chance for Bitcoin to fall below $65,000 by 2026. Strong bearish…
BitMine Reports 4.285M ETH Holdings, Expands Staked Position With Massive Reward Outlook
Key Takeaways BitMine Immersion Technologies holds 4,285,125 ETH, which is approximately 3.55% of Ethereum’s total supply. The company…
US Liquidity Crisis Sparked $250B Crash, Not a ‘Broken’ Crypto Market: Analyst
Key Takeaways: A massive $250 billion crash shook the cryptocurrency markets, attributed largely to liquidity issues in the…
Vitalik Advocates for Anonymous Voting in Ethereum’s Governance — A Solution to Attacks?
Key Takeaways Vitalik Buterin proposes a two-layer governance framework utilizing anonymous voting to address collusion and capture attacks,…
South Korea Utilizes AI to Pursue Unfair Crypto Trading: Offenders Face Severe Penalties
Key Takeaways South Korea is intensifying its use of AI to crack down on unfair cryptocurrency trading practices.…
App