Musk and Trump have engaged in a war of words, affecting DOGE and other assets closely related to Musk.

[Elon Musk and Trump engage in a war of words, affecting assets closely related to Dogecoin] The public dispute between U.S. President Trump and former government efficiency department (DOGE) "advisor" Musk has led to a drop in the value of trades related to Musk and some related to Trump, with Dogecoin falling 10% on Thursday and the listed fund associated with SpaceX dropping 13%. This highlights the risks of personal-driven investments, where investors are attracted to products associated with dominant figures like Musk and Trump and can be easily affected by sudden changes in public image. The rise of encryption tokens, ETFs, and other financial products has driven a speculative investment landscape, allowing retail investors to bet on the wealth of billionaires like Musk and Trump, often without considering traditional fundamentals.