Donald Trump

United

Elon Musk

United States presidential candidate and former President Donald Trump has reiterated his support for crypto and endorsed tech billionaire Elon Musk to head a new government task force.&nbsp;
Speaking at the Economic Club of New York on Sept. 5, Trump restated his support for the digital asset industry.
Trump said that, if elected, he would eliminate a minimum of ten old regulations for one new <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/the-sec-vs-ripple-lawsuit-everything-you-need-to-know" rel="null" target="null" text="null" title="null">regulation</a>, before adding:
<blockquote>
 “Instead of attacking industries of the future, we will embrace them including making America the world capital of crypto and Bitcoin.”
</blockquote>
Trump went on to thank Tesla CEO <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/elon-musk-supports-sweeping-ai-safety-regulations" rel="null" target="null" text="null" title="null">Elon Musk</a> for his endorsement adding, “I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government, making recommendations for drastic reforms.”&nbsp;
“We need to do it, and can't go on the way we are now,” he added.&nbsp;
Musk <a data-ct-non-breakable="null" href="https://x.com/elonmusk/status/1831778370180329962" rel="null" target="null" text="null" title="null">echoed</a> the sentiment in a post on X on Sept. 6 saying “This is badly needed,” and “This would unlock tremendous prosperity for America.”
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 <img alt="Trump vows to make US ‘world capital of crypto,’ taps Musk for new task force" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c5a3-c625-795d-a1ff-ddbb6bbf0d61">
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 Source: Elon Musk
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Musk has agreed to head that task force if he has the time, Trump continued, stating he would be good for the job.&nbsp;
<blockquote>
 “Elon, because he is not very busy, has agreed to head that task force. If he has the time he's a good one to do it and he has agreed to do it.”
</blockquote>
“I look forward to serving America if the opportunity arises, No pay, no title, no recognition is needed,” Musk said in an X <a data-ct-non-breakable="null" href="https://x.com/elonmusk/status/1831672345108357610" rel="null" target="null" text="null" title="null">post</a> on Sept. 5.&nbsp;
Russian-American computer scientist and podcaster Lex Fridman said:&nbsp;
<blockquote>
 “I hope that whoever wins, Harris or Trump, they'll take you up on your offer to help increase government efficiency.”
</blockquote>
One of the first jobs of the new commission would be the development of an “action plan to totally eliminate fraud and improper payments within six months,” he said.&nbsp;
<blockquote>
 ”This will save trillions of dollars. For the same service you have now, trillions of dollars are wasted, and nobody knows where it went.”
</blockquote>
<a data-ct-non-breakable="null" href="https://www.gao.gov/improper-payments" rel="null" target="null" text="null" title="null">According</a> to the US Government Accountability Office, Federal agencies made an estimated $236 billion in improper payments in 2023, and cumulative federal improper payment estimates have totalled about $2.7 trillion since 2003.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-crypto-bitcoin-nfts-defi-election" rel="null" target="null" text="null" title="null">Trump’s crypto gambit in Bitcoin, NFTs and DeFi intensifies ahead of election</a>
Trump has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-crypto-inflation-policies-regulation" rel="null" target="null" text="null" title="null">rebranded</a> himself as a pro-crypto candidate during this campaign as he angles for a growing base of crypto voters.&nbsp;
On Sept. 5, Cointelegraph <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-family-defi-project-ensure-us-dollar-dominance" rel="null" target="null" text="null" title="null">reported</a> that the Trump family <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance" rel="null" target="null" text="null" title="null">DeFi</a> project, about which very little is known at the moment, wants to spread the use of dollar-pegged stablecoins in decentralized finance.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/parents-addicted-pi-network-crypto-tapper/" rel="null" target="null" text="null" title="null">Help! My parents are addicted to Pi Network crypto tapper</a>

Trump vows to make US ‘world capital of crypto,’ taps Musk for new task force

Cointelegraph

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