Musk calls Trump’s flagship spending bill a “disgusting abomination,” triggering backlash.
Tesla CEO’s criticism could threaten subsidies for EVs and Space contracts.
GOP leadership now scrambling to salvage Senate support amid Musk’s social media tirade.
Musk seems to have finally cut the cord. (Britta Pedersen-Pool/Getty Images)
Tesla’s CEO turns on Trump’s prized megabill, calling it pork-filled and
fiscally reckless. The fallout is already rippling through GOP ranks.
Musk vs. MAGA: The Billionaire Breaks Rank
In what can only be described as a high-octane political about-face,
Elon Musk has torched President Donald Trump’s prized legislative
package—publicly branding the so-called “One Big Beautiful Bill Act” a
“disgusting abomination.”
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.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X (his
own platform, naturally). “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.”
The tirade, posted just days after Musk
stepped down as head of the Department of Government Efficiency (DOGE),
sent a shockwave through both political and financial circles. It also marks
Musk’s most dramatic rupture yet with Trump—his erstwhile political ally, golf
buddy, and, until very recently, Oval Office patron.
Debt, Deficits, and Tesla’s Dollars
Why the sudden fury? Follow the money.
Elon Musk, doing a lot of "slamming" recently. (via Frederic J Brown/AFP via Getty Images)
Musk slammed the bill for bloating the federal deficit—forecasted to
hit $2.5 trillion—and for adding what he called “crushingly
unsustainable debt.” The bill also threatens Tesla’s interests directly: it
proposes slashing subsidies for electric vehicles and clean energy tech.
That’s no small change when you’re running the world’s biggest EV maker
and a space company (SpaceX) reliant on defense contracts. And Musk knows it.
In November next year, we fire all politicians who betrayed the American people https://t.co/GTRc9Rjled
“In November next year, we fire all politicians who betrayed the
American people,” Musk warned in another post—threatening Republican lawmakers
who dare back the bill.
Political Fallout: GOP Leaders Squirm
Republican leadership, already walking a tightrope to pass the bill in
the Senate, now faces a Musk-shaped headache.
Senate Majority Leader John Thune (R-S.D.) insisted the bill would
ultimately spur economic growth, but admitted Musk’s criticism “makes
leadership’s job that much harder.”
Meanwhile, libertarian stalwarts like Sen. Rand Paul (R-Ky.) and Sen.
Mike Lee (R-Utah) gleefully echoed Musk’s outrage. Paul posted: “We can and
must do better.” Lee added that “federal spending has become excessive.”
Even some House Republicans who helped push the bill through were
blindsided. “Very
disappointing,” grumbled House Speaker Mike Johnson. “And very surprising
in light of the conversation I had with him.”
Translation: Musk was supposed to play nice. Now he’s lighting matches.
Markets Watching, Tesla at Risk
For traders and investors, Musk’s tantrum could have tangible
consequences.
Tesla shares wobbled slightly as news of the clash broke—investors wary
of how the spending cuts could hit EV incentives. And with SpaceX holding major
defense contracts, any deterioration in Musk’s rapport with Trump could also
ripple through that side of his empire.
GOP insiders privately acknowledge that Musk’s influence—while not
equal to Trump’s—is nontrivial. He pumped at least $250-300 million into
Trump’s last campaign and various down-ballot races. Now, that financial spigot
may be in question.
🇺🇸The One, Big, Beautiful Bill "is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!" Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill!" pic.twitter.com/4e22PHtlxl
Wall Street and Silicon Valley are left trying to read the tea leaves.
Will Tesla subsidies survive? Will Musk really pull GOP funding? Will Senate
Republicans break ranks?
One thing’s clear: when the world’s richest man and the world’s loudest
president go to war over money, markets should pay attention.
Strap in. The abomination circus has just begun.
For more news around the edges of finance, visit our Trending pages.
Tesla’s CEO turns on Trump’s prized megabill, calling it pork-filled and
fiscally reckless. The fallout is already rippling through GOP ranks.
Musk vs. MAGA: The Billionaire Breaks Rank
In what can only be described as a high-octane political about-face,
Elon Musk has torched President Donald Trump’s prized legislative
package—publicly branding the so-called “One Big Beautiful Bill Act” a
“disgusting abomination.”
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.
“I’m sorry, but I just can’t stand it anymore,” Musk wrote on X (his
own platform, naturally). “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.”
The tirade, posted just days after Musk
stepped down as head of the Department of Government Efficiency (DOGE),
sent a shockwave through both political and financial circles. It also marks
Musk’s most dramatic rupture yet with Trump—his erstwhile political ally, golf
buddy, and, until very recently, Oval Office patron.
Debt, Deficits, and Tesla’s Dollars
Why the sudden fury? Follow the money.
Elon Musk, doing a lot of "slamming" recently. (via Frederic J Brown/AFP via Getty Images)
Musk slammed the bill for bloating the federal deficit—forecasted to
hit $2.5 trillion—and for adding what he called “crushingly
unsustainable debt.” The bill also threatens Tesla’s interests directly: it
proposes slashing subsidies for electric vehicles and clean energy tech.
That’s no small change when you’re running the world’s biggest EV maker
and a space company (SpaceX) reliant on defense contracts. And Musk knows it.
In November next year, we fire all politicians who betrayed the American people https://t.co/GTRc9Rjled
“In November next year, we fire all politicians who betrayed the
American people,” Musk warned in another post—threatening Republican lawmakers
who dare back the bill.
Political Fallout: GOP Leaders Squirm
Republican leadership, already walking a tightrope to pass the bill in
the Senate, now faces a Musk-shaped headache.
Senate Majority Leader John Thune (R-S.D.) insisted the bill would
ultimately spur economic growth, but admitted Musk’s criticism “makes
leadership’s job that much harder.”
Meanwhile, libertarian stalwarts like Sen. Rand Paul (R-Ky.) and Sen.
Mike Lee (R-Utah) gleefully echoed Musk’s outrage. Paul posted: “We can and
must do better.” Lee added that “federal spending has become excessive.”
Even some House Republicans who helped push the bill through were
blindsided. “Very
disappointing,” grumbled House Speaker Mike Johnson. “And very surprising
in light of the conversation I had with him.”
Translation: Musk was supposed to play nice. Now he’s lighting matches.
Markets Watching, Tesla at Risk
For traders and investors, Musk’s tantrum could have tangible
consequences.
Tesla shares wobbled slightly as news of the clash broke—investors wary
of how the spending cuts could hit EV incentives. And with SpaceX holding major
defense contracts, any deterioration in Musk’s rapport with Trump could also
ripple through that side of his empire.
GOP insiders privately acknowledge that Musk’s influence—while not
equal to Trump’s—is nontrivial. He pumped at least $250-300 million into
Trump’s last campaign and various down-ballot races. Now, that financial spigot
may be in question.
🇺🇸The One, Big, Beautiful Bill "is arguably the most significant piece of Legislation that will ever be signed in the History of our Country!" Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill!" pic.twitter.com/4e22PHtlxl
Wall Street and Silicon Valley are left trying to read the tea leaves.
Will Tesla subsidies survive? Will Musk really pull GOP funding? Will Senate
Republicans break ranks?
One thing’s clear: when the world’s richest man and the world’s loudest
president go to war over money, markets should pay attention.
Strap in. The abomination circus has just begun.
For more news around the edges of finance, visit our Trending pages.
Louis Parks has lived and worked in and around the Middle East for much of his professional career. He writes about the meeting of the tech and finance worlds.
Gold Price Prediction 2026: WGC Warns of 20% Crash Risk
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Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
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He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
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Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
