{"id":364342,"date":"2025-02-01T15:16:19","date_gmt":"2025-02-01T09:46:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=364342"},"modified":"2025-02-01T15:16:19","modified_gmt":"2025-02-01T09:46:19","slug":"elon-musks-doge-targets-us-treasury-amid-ambitious-plan-heres-all-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/elon-musks-doge-targets-us-treasury-amid-ambitious-plan-heres-all-crypto-news\/","title":{"rendered":"Elon Musk’s DOGE Targets US Treasury Amid Ambitious Plan, Here’s All – Crypto News"},"content":{"rendered":"

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Elon Musk\u2019s Department of Government Efficiency (D.O.G.E.) is making waves in Washington with its recent target towards the US Treasury. Notably, it has also led to the exit of a top-ranking official of the agency, sparking further market discussions. Besides, it also comes as Musk has shared ambitious plans for DOGE, which has caught the market\u2019s attention. Having said that, a flurry of investors anticipate the development to have an impact on the Dogecoin price ahead.<\/p>\n

Elon Musk\u2019s DOGE Targets US Treasury<\/h2>\n

Recent reports indicate that David Lebryk, a high-ranking US Treasury official, is stepping down after disagreements with allies of Elon Musk. According to a Washington Post report cited by Reuters<\/a>, the conflict stemmed from DOGE\u2019s request to audit a crucial payment system. This system processes over $6 trillion annually, including Social Security, Medicare, federal salaries, and tax refunds.<\/p>\n

While it remains unclear why Musk\u2019s team sought access, the development has raised eyebrows in financial and political circles. The report noted that a DOGE spokesperson declined to comment, and the US Treasury has yet to respond to media inquiries.<\/p>\n

Musk Alleges US Treasury Fraud<\/h2>\n

Reacting to the news, American activist Robby Starbuck questioned why government officials would resist an audit. He suggested that DOGE was investigating excessive spending and potential inefficiencies within the Treasury.<\/p>\n

Elon Musk, in response to Starbuck\u2019s claims, alleged that Treasury officials were instructed to approve all payments, even to fraudulent or terrorist groups. In the latest X post, Musk stated:<\/p>\n

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\u201cThe DOGE team discovered, among other things, that payment approval officers at Treasury were instructed always to approve payments, even to known fraudulent or terrorist groups. They literally never denied a payment in their entire career. Not even once.\u201d<\/p>\n<\/blockquote>\n

This bold accusation has fueled public concern over financial mismanagement within the federal government.<\/p>\n

Ambitious Plans For Elon Musk\u2019s DOGE<\/h2>\n

Amid the US Treasury controversy, the tech mogul has laid out an aggressive cost-cutting vision for DOGE. Elon Musk has reiterated his previous goal<\/a> of cutting $4 billion in daily federal spending by 2026, targeting a deficit reduction from $2 trillion to $1 trillion. In a recent X post, Musk shared an optimistic update:<\/p>\n

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\u201cI am cautiously optimistic that we will reach the $4B\/day FY2026 reduction this weekend.\u201d<\/p>\n<\/blockquote>\n

If successful, this would mark a significant shift in government efficiency.<\/p>\n

Market Reactions & Dogecoin Speculation<\/h2>\n

With Elon Musk\u2019s DOGE making headlines, investors are speculating on its impact on Dogecoin\u2019s price. Historically, Musk\u2019s involvement with the meme coin has driven sharp fluctuations. While no direct connection exists between DOGE and Dogecoin, the resemblance in the department\u2019s acronym and the meme coin\u2019s ticker often influences the market sentiment.<\/p>\n

Having said that, several experts anticipate these developments to impact the Dogecoin price ahead. In addition, Dogecoin whales are also making headlines<\/a> with their latest accumulation trend, indicating the growing investors\u2019 confidence in the asset.<\/p>\n

Considering all these aspects, it appears that Elon Musk\u2019s DOGE development is likely to influence Dogecoin price ahead. Simultaneously, the market watchers are keeping close track of the Department\u2019s tactics in cutting the US federal spending in the coming days.<\/p>\n

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Rupam Roy <\/p>\n<\/p><\/div>\n

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
\nRupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n

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Elon Musk\u2019s Department of Government Efficiency (D.O.G.E.) is making waves in Washington with its recent target towards the US Treasury. Notably, it has also led to the exit of a top-ranking official of the agency, sparking further market discussions. Besides, it also comes as Musk has shared ambitious plans for DOGE, which has caught the […]<\/p>\n","protected":false},"author":2,"featured_media":364346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-364342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=364342"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364342\/revisions"}],"predecessor-version":[{"id":364350,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/364342\/revisions\/364350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/364346"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=364342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=364342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=364342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}