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Sujit Kumar
Sep 6, 2024
by Sujit Kumar

Trump Backs Crypto and Taps Elon Musk for Federal Task Force Leadership

Trump Backs Crypto
U.S. presidential candidate Donald Trump has once again voiced his strong support for the cryptocurrency industry. Speaking at the Economic Club of New York on Sept. 5, Trump emphasized his vision to make America the global hub for crypto and Bitcoin. He also pledged to eliminate ten outdated regulations for every new one introduced, stating, “Instead of attacking industries of the future, we will embrace them, including making America the world capital of crypto and Bitcoin.”

Elon Musk to Lead Government Efficiency Task Force

Trump announced that tech billionaire Elon Musk has endorsed his campaign and agreed to head a new government task force, provided he has the time. This task force will be responsible for conducting a comprehensive audit of the federal government to recommend reforms. Trump highlighted the importance of this initiative, saying, “We need to do it, and can't go on the way we are now.”

Musk echoed these sentiments on X (formerly Twitter), stating, “This is badly needed” and “This would unlock tremendous prosperity for America.” Musk also expressed his willingness to serve without pay or recognition if Trump wins the 2024 election.

Focus on Eliminating Fraud and Waste

One of the primary goals of the task force would be to develop an action plan to eliminate fraud and improper payments within six months, a move Trump claims could save trillions of dollars. Federal agencies have faced significant challenges, with improper payments totaling $236 billion in 2023 alone, according to the U.S. Government Accountability Office.

As Trump rebrands himself as a pro-crypto candidate, he is positioning himself to attract the growing base of cryptocurrency voters.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Elon Musk Trump Backs Crypto
Trump Backs Crypto and Taps Elon Musk for Federal Task Force Leadership
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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