Last week, Trump's Big and Beautiful Law was passed in the United States. According to Musk, the president's initiative is ”crazy” and ”destructive.” Therefore, he decided to create a party, which is now being actively discussed in both political and cryptocurrency circles. What's happening in the crypto market Just a few hours after Musk's statement, the America Coin (AP) memecoin was launched on the Pump.fun platform. Its price soared by 120%, and its capitalization reached $18 million. Trading volumes skyrocketed; speculators rushed to buy, expecting a repeat of the Dogecoin (DOGE) story. Traders have already dubbed AP the ”Dogecoin of politics,” although Musk himself has not endorsed the coin. At the time of writing, almost the entire ranking of the most popular cryptocurrencies on DEX Screener consists of tokens related to the America Party and Musk. In the last 24 hours, the price of the America Party (AMERICA) coin on Solana (SOL) has soared by more than 12,000%. The asset’s capitalization is over $7 million. Dogecoin—Musk’s favorite memecoin—was hardly affected by the news. According to CoinMarketCap, the price of DOGE fell by 0.3% to $0.1637 over the past day. Meanwhile, the coin’s trading volume dropped by 59%. Conflict between Musk and Trump The public conflict between Musk and Trump began after the billionaire left the position of head of the Department of Government Efficiency, a role the US president created specifically for him. At the time, the media reported that Trump criticized Musk in the Oval Office. Sources claimed that tension between the two had been building since the spring of 2025, when Musk publicly opposed Trump's sweeping tax bill, calling it a ”financial disaster.” The president, in turn, accused Musk of not understanding economic strategy. The situation escalated after Musk's statement about the possible curtailment of the Dragon program, to which Trump responded by threatening to renegotiate SpaceX's contracts with NASA. A heated exchange erupted on social networks: Musk hinted at Trump's connection with Jeffrey Epstein and called for impeachment, while Trump reportedly threatened to expel Musk or his companies from the United States. To counter the Republicans, whom Musk had previously supported, the billionaire announced the formation of his own party. On Independence Day—the Fourth of July—the businessman launched a poll on X (formerly Twitter). More than 65% voted in favor of forming a party.