On June 7, Musk's relationship with US President Trump completely broke down, with both sides recently trading insults on social media platforms. Musk claimed that "Trump would never have become president without him," to which Trump retorted that Musk "has gone crazy."
The trigger for this conflict was Musk's public opposition to the Trump administration's "Big and Beautiful Act," stating that the bill would increase fiscal deficit, particularly by reducing electric vehicle tax credits, which would be extremely detrimental to Tesla. As the relationship became public, Tesla's stock price became the market's biggest victim, with investors selling off stocks due to concerns about Tesla's future prospects.
On June 5, Tesla's stock price dropped by over 17% intraday and ultimately closed down more than 14%, with market value evaporating by over $150 billion. This event caught the attention of BiyaPay users, who quickly responded by converting USDT to USD on the platform and taking the opportunity to short Tesla during the significant stock price decline, enabling investors to make quick decisions and obtain substantial returns in a volatile market.
Through BiyaPay, without an offshore account, users can easily convert USDT to USD and directly trade US stocks on the platform, including shorting popular stocks like Tesla. Tesla's significant stock price drop provided an ideal profit opportunity for many BiyaPay users, with some successfully earning substantial returns.
This also demonstrates that under political and market fluctuations, BiyaPay's convenient trading services and liquidity support can help users capture profits through quick responses at critical moments. As more investors participate in US stock market trading through BiyaPay, the platform provides more diverse and flexible investment options for global users.
