Musk fiercely criticized Trump's "Big Beautiful Tax Law", KBBB Token surged big.

Recently, Elon Musk fiercely criticized the "One Big Beautiful Bill Act" strongly promoted by U.S. President Donald Trump. At the same time, a meme coin called "KBBB" (Kill Big Beautiful Bill) emerged on the Solana blockchain, with its market capitalization skyrocketing from $70,000 to $24 million on June 5, achieving a peak increase of 3 times in a short period.

Musk's positive criticism

On June 3, Musk posted multiple times on the X platform, denouncing the "Big Beautiful Tax" as a "disgusting abomination" and warning that it would add $2.3 trillion to $3.8 trillion to the federal deficit, potentially dragging the U.S. economy into an "unsustainable debt abyss." He urged voters to "kill the bill" and threatened that "the 2026 midterm elections will settle the score with the lawmakers who support the bill."

As the largest donor to Trump's 2024 campaign (donations exceeding $250 million) and former head of the Department of Efficiency (DOGE), Musk had promised to cut federal spending. However, after stepping down from his DOGE position on May 30, he publicly criticized the bill for deviating from his fiscal discipline goals. On June 4, Musk further stated on X: "The scale and complexity of the bill is a betrayal of the American people." This remark quickly resonated within the crypto community, giving rise to the creation of the KBBB token.

The rocket rise of KBBB coin

Inspired by Musk's "Kill Bill" slogan and borrowed from the meme symbol of the movie "Kill Bill", the KBBB token was launched on the Solana chain on the evening of June 3, with the contract address npB9cxTzwUiGt7jk2dXZa52xZve8SgVD6Et9Bpipump. According to X user @BTC2Ai and @CryptoDongwang, KBBB's initial market value was only $70,000, but fueled by Musk's remarks, it quickly absorbed speculative funds after the market opened on June 5, and its market value soared to $24 million. As of 14:00 (HKT) on June 5, the market capitalization has fallen back to about $9.57 million, but it is still firmly on the Solana chain meme token hot list.

KBBB's skyrocketing is due to a number of factors. Musk's "carrying" effect in the crypto market is unmatched. X user @Wizard_AiSignal pointed out that on the morning of June 5, KBBB was hotly discussed by 6 crypto communities within one minute, highlighting its topicality. In addition, Musk's "top-tier showdown" narrative injected a strong impetus into the token, @CryptoDongwang said: "The conflict between Musk and Trump is the soul of KBBB, and the combination of memes and politics makes it a speculator's carnival." ”

Controversy over the bill and market turbulence

The "Big Beautiful Tax Law" was passed in the House of Representatives on May 22 with a vote of 215 to 214, including provisions to extend the 2017 tax reform, exempt overtime pay and tip taxes, and cut social welfare programs such as Medicaid. However, the Congressional Budget Office (CBO) predicts that the bill will increase the federal deficit by more than $3 trillion over the next decade, with the 30-year Treasury yield exceeding 5%, putting pressure on the S&P 500 index. The foreign tax provisions in the bill (Section 899) allow for a tax of up to 20% on businesses and individuals from countries with "punitive tax policies," raising concerns on Wall Street about capital outflows.

In an interview with CNBC on June 4, Musk stated that the bill "favors the rich and cuts benefits for the poor," and hinted that the cancellation of electric vehicle tax credits would harm the interests of companies like Tesla. Tesla's stock price has fallen 13% this year, partly attributed to the controversy surrounding Musk's political stance. X user @MarketWatcher analyzed: "The big pump of KBBB is the market's emotional reaction to the uncertainty of the bill, but its essence remains a speculative bubble."

The crypto community is hotly discussing and warning about risks.

In the crypto community, KBBB is seen by some as a symbol of "decentralized protest." X user @DeFiPulse commented: "KBBB is not just a meme, but a projection of public dissatisfaction with high deficit policies on-chain." However, more voices remind of its high-risk nature. Meme coins often lack real use cases, and KBBB's big pump relies on Musk's continuous remarks and the heated controversy over the bill. Once the Senate modifies or vetoes the bill, the narrative foundation of KBBB may collapse, leading to a price crash.

Future trends and deep impacts

The short-term popularity of KBBB is closely related to the rhythm of Musk's voice. If it continues to slam the bill on platform X, it may further increase the attention of the token. However, the fate of the bill in the Senate will be a key variable. Republicans hope to pass the revised version by July 4, but fiscal conservatives such as Senator Rand Paul have called for spending cuts, and some lawmakers oppose cuts to welfare programs. Senate Majority Leader John Thune admitted: "The differences are clear, but we have to move forward." ”

Written at the end

Musk's fierce criticism of the "Great Beautiful Tax Law" has sparked a rocket-like rise in the KBBB token, with its market capitalization soaring from $70,000 to $24 million. However, behind this frenzy lies a high-risk speculative game. Investors need to keep a cool head and be wary of price bubbles and regulatory risks. The fate of KBBB will be closely tied to the progress of the bill and Musk's related X posts, and this clash between politics and crypto is far from over.