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Elon Musk and Vivek Ramaswamy are set to lead the new Department of Government Efficiency (DOGE) under President-elect Trump, aiming to cut federal budget waste and restructure agencies. Despite Musk's lighthearted claims about Dogecoin, his support has significantly influenced its market value, recently pushing it to a three-year high.
Vivek Ramaswamy's X account was allegedly hacked, leading to a false announcement of a partnership with the USUAL stablecoin project, which caused its governance token to surge to an all-time high of $1.61. The misinformation resulted in a significant spike in trading volume and market cap for USUAL, despite Ramaswamy being locked out of his account and clarifying the post was a scam. The incident has drawn attention to the Department of Government Efficiency (D.O.G.E.) initiative, co-led by Ramaswamy and Elon Musk, amid speculation about its potential ties to cryptocurrency.
French bank BPCE plans to offer crypto investments through its subsidiary Hexarq starting in 2025, following regulatory approval from the Autorité des marchés financiers. Customers of Banque Populaire and Caisse d’Épargne will be able to buy and sell Bitcoin and other cryptocurrencies via a dedicated app. This move aligns with the growing global adoption of cryptocurrencies and comes as France enhances its regulatory framework ahead of the EU's Markets in Crypto Assets rules implementation in late 2024.
Olivier Kessler argues that the West may be experiencing a turning point, as increasing discontent with state overreach and interventionism emerges. He highlights Argentina's recent shift under Javier Milei, who advocates for deregulation and reduced government, as a potential model for Western nations seeking to reclaim individual freedoms and economic prosperity.
United States Dollar Argentine Peso Apple Inc. Liberal Institute ARG USA DEU LIE Francesco Campanella Bannwart Stefan Daniel Roarty Andreas Ita Andrew Isbester Katharine Neiss Marc Lussy Vivien Jain Guy De Blonay Colin Vidal Elon Musk Mike Judith Mark Denham Marc Reinhardt Brad Slingerlend Maryann Umoren Selfe Teodoro Cocca Patrick Stauber Christine Houston Beat Weiss Ashley Semmens Eric Sarasin Serge Fehr Marionna Wegenstein Harald Preissler Marc Taverner Christopher Gannatti George Muzinich Francesco Magistra Brice Prunas Roman Reigns Judith Wallenstein Leon Curti Charles-henry Monchau Nick Platjouw Ludwig von Mises Nicolas Ramelet Dina Ting Rolando Grandi Karin M. Klossek Bernardo Brunschwiler Fabrizio Pagani Gary D. Burnison Murray Rothbard Shaniel Ramjee Marco Huwiler Gianluca Gerosa Robert Almeida Maria Vassalou Frédéric R Leroux Bruno Cavalier Philip Adler Georg von Wyß Philipp Kaupke Daniel Goleman Javier Milei Dieter Wermuth Ralf Zellweger Jan Boudewijns Martin Velten Brigitte Kaps Roman Gaus Anna Rosenberg Ha Duong Lars Jaeger Andreas Herrmann Frances Weir Nannette Hechler-Fayd'herbe Pascal Mischler Remo Badertscher Grégoire Bordier Dominique Gerster Claudia Kraaz Jared Cook Bertrand Binggeli Thomas Höhne-Sparborth Razan Nasser Luis Maldonado Adriano Lucatelli Alexis Marinof Nicolas Faller Camille Vial Nicolas Forest Thomas Holderegger Manuel Robles Claude Baumann Jan Brzezek Val Olson Serge Becker Mariolina Esposito Sean Hagerty Massimo Pedrazzini Nicolas Moussette Daniel Kobler Lukas Zihlmann Mihkel Vitsur Beat Wittmann Reto Jauch Taimur Hyat Sherif Mamdouh Ralph Ebert Axel Brosey Thomas Signer Alannah Beer Nico Fiore Jian Shi Cortesi Henk Grootveld Vivek Ramaswamy Louise Curran Charlie Munger Christian Kälin Darren Williams Andreas Britt Alina Donets Florin Baeriswyl Konrad Hummler Shanna Strauss Benjamin Melman Adrian Cox Philipp Cottier Olivier Kessler Fernando Fernández Jan Beckers Show more
Signs of a potential turning point are emerging in the West, as leaders like Elon Musk and Vivek Ramaswamy propose significant government spending cuts, and Argentina's Javier Milei implements a successful deregulation agenda. The collapse of Germany's eco-socialist government and Liechtenstein's media reforms suggest a shift away from overregulation and state intervention. Increasingly, people are recognizing the need to abandon the failed policies of the past in favor of individual freedom and economic prosperity.
Dogecoin has plunged nearly 45% from its monthly high, entering a bear market amid intensified selling in the crypto sector following a hawkish Fed decision. The decline reflects rising panic among retail investors, with DOGE now in the markdown phase of the Wyckoff Method. Key support levels to watch are $0.2293 and $0.1953, with caution advised against potential dead cat bounces.
Elon Musk’s Department of Government Efficiency (DOGE) is gaining traction, led by key figures like Steve Davis and Michael Kratsios, focusing on hiring AI software engineers. The initiative aims to cut up to $2 trillion in federal spending, potentially impacting major programs like Social Security and Medicare. With support from President-elect Trump, DOGE is positioned to influence the next administration's policies on government efficiency.
Elon Musk responded to Senator Elizabeth Warren's concerns about potential conflicts of interest related to his role in President-elect Trump's administration, suggesting that her criticisms are influenced by the parents of Sam Bankman-Fried. Musk, who is set to help cut $2 trillion in federal spending, dismissed Warren's claims, while she argued that his position could lead to significant corruption without strict conflict-of-interest rules. Trump’s spokesperson defended Musk, contrasting his societal impact with Warren's political career.
President Biden has expressed support for banning congressional stock trading, stating that members should not profit from the stock market while in office. This follows bipartisan efforts to restrict trading among lawmakers, including potential regulations on cryptocurrencies. The president's comments come amid concerns about conflicts of interest, particularly with lawmakers holding significant crypto investments.
Donald Trump has announced a bold plan to eliminate 10 regulations for every new one introduced, aiming to stimulate job growth and economic innovation. His administration is set to create a more crypto-friendly environment, with key appointments like Paul Atkins as SEC Chair and a focus on establishing a strategic bitcoin reserve. Additionally, Trump has appointed Elon Musk and Vivek Ramaswamy to lead the newly formed Department of Government Efficiency, tasked with cutting regulations and reducing federal spending.
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