Yahya 
While supporting tech billionaire Elon Musk to head a new government efficiency task group, United States presidential candidate Donald Trump has sharpened his support for cryptocurrencies. Emphasizing strategies to position America as the worldwide center for cryptocurrencies and Bitcoin, Trump described his vision for the digital asset sector at the Economic Club of New York on September 5.
Declaring, “instead of attacking sectors of the future, we will embrace them, including making America the world capital of crypto and Bitcoin,” Former US president Trump vowed to remove out-of-date regulations in order to provide the avenue for creativity. Additionally valued for his support and sponsorship of these projects was Elon Musk, CEO of Tesla.
Trump put in his agenda the creation of a government efficiency commission. Musk, who expressed enthusiasm for the idea, has offered to oversee the task team assigned given he has the time. “Elon agreed to head that task force since he is not very busy,” Trump replied teasingly. Reacting on X, Musk stated, “this is badly needed” and that the initiative will “unlock tremendous prosperity for America.”
Aiming for a financial and performance audit of the federal government, the task force will support drastic measures aimed to increase efficiency. One of its key goals within six months will be to draft an action plan meant to eradicate improper payments and fraud. Declaring, “this will save trillions of dollars… trillions of dollars are wasted, and nobody knows where it went,” Trump underscored the probable savings.
The US Government Accountability Office projects that federal agencies paid an estimated $236 billion in improper payments in 2023; cumulative totals since 2003 equal $2.7 trillion.
Trump’s new attitude as a pro-crypto candidate reflects a bigger effort to grab the growing base of crypto fans as he starts his campaign for the 2024 presidential fight.
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