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Elon Musk discovers Trump doesn’t stay bought
Gaming Gear

Elon Musk discovers Trump doesn’t stay bought

by admin June 5, 2025


I have been watching, with some grim amusement, Elon Musk discovering the limits of being just another political donor. While he was at DOGE, he literally could control the Treasury and DOD — he effectively had the IT reins of the entire country, and could simply gut things he hated at will. There was a price for that: it destroyed what was left of his reputation. But it was real, true power — being able to stop payments at will makes you more powerful than the president.

So much for that. These days, Musk is reduced to begging his followers on X to call their senators and congressmen [sic, obviously] to vote down the Big Beautiful Bill. His nominal reason is that Donald Trump’s budget plan will increase the deficit, but reports indicate that Musk is annoyed an EV credit is getting cut. That makes it harder to sell Teslas in an environment where it’s already hard to sell Teslas. Also, Musk may be annoyed that he didn’t get to stay past his statutory limit as an unpaid advisor and that the FAA isn’t using Starlink, according to Axios.

Even less powerful enemies can lead to political problems, which is why Musk doesn’t get his pet boy in NASA

The cracks have been showing in the MAGA-tech alliance for some time now. When Scott Bessent got Musk’s IRS pick ejected in April, that was notable. (Bessent’s deputy now runs the IRS.) Musk wasn’t politically savvy enough to get Bessent on his side before installing his pick; an end-run like that is insulting and Musk had been making enemies. Take, for instance, Marco Rubio, who was furious when Musk destroyed USAID — that was Rubio’s department and getting rid of it cut his power. Sean Duffy, the reality TV star who is for some reason running the Department of Transportation, had to intervene to stop DOGE from firing air traffic controllers while the lack of air traffic controllers remains a hot-button issue.

These men should not have been especially difficult to finesse, but then Musk is known for his bull-in-a-china-shop approach. It is rare that a person in a position of power — a cabinet seat, say — willingly gives up even an inch of leverage. Making enemies of Bessent, Rubio, and Duffy was a strategic error.

Even less powerful enemies can lead to political problems, which is why Musk doesn’t get his pet boy in NASA now. Jared Isaacman was due to receive his final confirmation vote in the Senate when Trump abruptly withdrew his nomination for head of the aerospace agency. That was reportedly because Musk had beef with Sergio Gor, the head of the White House Presidential Personnel Office — basically the lead recruiter for government jobs. The moment Musk was no longer in the actual White House, Gor dropped the blade.

Still, Trump isn’t publicly chastising Musk

Silicon Valley is still entwined with the government — Musk’s cronies, including the guy who calls himself Big Balls, now have permanent jobs. Associates of Peter Thiel, Palmer Luckey, and David Sacks all have jobs in the administration; the vice president owes his entire political career to his sugar daddy Thiel. But when David Sacks gets on X to argue with Marjorie Taylor Greene about the AI provision in the budget bill, that suggests a shocking lack of leverage. Sacks was a major Republican fundraiser and is a literal advisor to the president; shouldn’t he be able to pick up a phone and get what he wants?

Instead, his podcast All-In is getting the exclusive bitch session from Isaacman, the NASA administrator who wasn’t. Great for content, I guess, but not real power.

I’m a little surprised Musk isn’t threatening to primary people over the bill. Maybe that’s happening in private, I don’t know. But it could also reflect that Musk’s money is, at times, a political liability. When Musk dropped $20 million on his preferred Wisconsin Supreme Court candidate, that candidate got blown out of the water. Musk’s increasingly toxic reputation may make his money less welcome.

Still, Trump isn’t publicly chastising Musk, which is unusual. Maybe that’s because he’s waiting on a $100 million check to his political action committee, per The Wall Street Journal. Or maybe it’s because Musk is particularly close to Katie and Stephen Miller, two major Trump administration power players.

The basic truth of Donald Trump’s entire career, starting in real estate, is that he will fuck over anyone who does a deal with him as soon as it benefits him to do so. (Just ask Michael Cohen!) You can buy him, but he won’t stay bought. You have to keep an eye on him, keep managing him, as Stephen Miller knows well. Musk left the White House to tend to his own reputation, leaving his enemies behind to whisper in the president’s ear. Sure, he’s still got people in the administration, but it’s hard to effectively rule from the shadows when you’ve created a shocking amount of tension with the actual presidential staff. Musk set his own companies on fire, and this is what he’s gotten in return. What did you get for your money, honey? How do you get your kicks?





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June 5, 2025 0 comments
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Elon Musk calls Trump’s budget bill a ‘disgusting abomination’
Gaming Gear

Elon Musk calls Trump’s budget bill a ‘disgusting abomination’

by admin June 4, 2025


Last week, Elon Musk’s media tour included telling CBS Sunday Morning he was “disappointed” by the Republican domestic policy bill backed by President Trump. Now, the former White House employee is calling it a “disgusting abomination” and claiming that Congress is making America bankrupt in posts on X on Tuesday.

Elon’s problem isn’t the provisions we noted that would strip state legislatures of AI oversight and scale back consumer protection and climate initiatives, while funding increased border surveillance. Instead, he claims, “It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt.” The nonpartisan Congressional Budget Office has reported that the bill’s tax provisions would increase the deficit by $3.8 trillion over the next decade.

Despite Musk continuing and threatening that “In November next year, we fire all politicians who betrayed the American people,” the White House and other Republican political leaders have not shown much regard for his statements. In a briefing Tuesday afternoon, White House press secretary Karoline Leavitt told reporters, “…look, the president already knows where Elon Musk stood on this bill. It doesn’t change the president’s opinion; this is one big beautiful bill, and he’s sticking to it.”

Democrats had a different response, as ABC News reports that Senate Minority Leader Chuck Schumer held up a printout of Musk’s tweets during his press conference following a policy luncheon. Schumer told reporters, “Trump’s buddy says the bill is bad — you can imagine how bad this bill is,” while his counterpart in the House, Hakeem Jeffries, said, “…breaking news: Elon Musk and I agree with each other.”

Politico reports that Speaker of the House Mike Johnson told reporters he spoke to Musk on Monday for about 20 minutes regarding the bill, and said, “With all due respect, my friend Elon is terribly wrong about the one big, beautiful bill.” In the Senate, Republican Majority Leader John Thune told reporters, “On this particular issue, we have a difference of opinion,” and that he believes Musk is using outdated data.



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June 4, 2025 0 comments
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Xrp Lawyer Reveals Why Elon Musk'S Tesla Will Buy More Bitcoin
GameFi Guides

Elon Musk’s Tesla will Buy More Bitcoin: Pro XRP Lawyer

by admin June 3, 2025



Pro XRP lawyer John E. Deaton has offered a bold perspective, claiming Elon Musk’s Tesla will buy more Bitcoin. His post on X came in response to a recent tweet from Musk himself, where the Tesla CEO expressed strong disapproval of the new “Congressional spending bill.”

On X, Musk stated,  “I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.”

Source: X

He added, “It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt.” Responding to Musk, Deaton tweeted, “Wouldn’t be surprised to see Elon and Tesla buy more Bitcoin. The Big Beautiful Bill is a walking billboard and advertisement for buying Bitcoin.”

This comes as Tesla is already rumored to buy $3 billion in Bitcoin. However, the EV giant is yet to make an official announcement. Nonetheless, it’s worth noting that the company already holds 11,509 BTC worth $1.22 billion, according to data from Arkham Intelligence.

Coming back to the bill, as of early June 2025, the “One Big Beautiful Bill Act” is currently under active consideration in the U.S. Senate. The Republican leadership wishes to pass it by both chambers and send it to the President’s desk by July 4.

Also Read: Elon Musk Says Ripple XRP is Promising: Fact Check



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June 3, 2025 0 comments
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Crypto Trends

Elon Musk Says New XChat Is Coming With ‘Bitcoin Style’ Encryption

by admin June 2, 2025



In brief

  • Musk unveiled an upcoming X feature with encrypted messages, vanishing texts, and file transfers
  • He claimed it’s built in Rust with “Bitcoin style” encryption
  • Developers have pushed back, saying Bitcoin doesn’t use encryption

Elon Musk announced on Sunday that X will soon roll out a new messaging feature called XChat, touting capabilities such as encrypted conversations, vanishing messages, file transfers, and audio and video calls.

But the post caused confusion after the X CEO said the feature is “built on Rust with (Bitcoin style) encryption, whole new architecture,” prompting a flurry of skeptical replies from Bitcoin developers and cryptography experts.

“Bitcoin doesn’t even use encryption,” said Bitcoin Core developer and OCEAN CTO Luke Dashjr in response to Musk’s post.

Another high-profile figure, JAN3 and Pixelmatic CEO Samson Mow, echoed the sentiment, adding, “Bitcoin isn’t encrypted.”

Bitcoin uses cryptographic techniques such as elliptic curve cryptography and SHA-256 hashing for key generation and transaction validation, not encryption for message confidentiality.

The link with Rust was also questioned. “Bitcoin was written in cpp,” Eliza Labs founder Shaw Walters pointed out, referring to C++. “Rust clients came later.”

No further documentation has been provided by the social media platform. Attempts were made to contact X.

Musk’s announcement follows a week of renewed interest in his companies after he stepped down from his government position at the Department of Government Efficiency.

Last week, another rocket launched by SpaceX exploded, but that hasn’t stopped the CEO from laying out his vision for colonizing Mars and predicting the establishment of a colony there within the next 20 years. 

X also soft-launched a new digital wallet, “X Money,” marking another step in Musk’s attempt to turn X into an all-in-one app.

His foray into encrypted messaging also comes after publicly denying a deal with Telegram. 

Last week, Telegram CEO Pavel Durov claimed Telegram had entered a one-year partnership with Musk’s xAI, including a $300 million payout and app integration. Musk responded, “No deal has been signed.”

Edited by Sebastian Sinclair

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June 2, 2025 0 comments
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Elon Musk To Roll Out Xchat With Bitcoin Style Encryption
Crypto Trends

Elon Musk to Roll Out XChat With Bitcoin Style Encryption

by admin June 2, 2025



Tech billionaire Elon Musk has just announced a brand-new messaging app called XChat.  What makes XChat different is how it’s built with inspiration from bitcoin developer Satoshi Nakamoto for security measures.

Musk says the app uses a programming language called Rust, and its security system is based on how Bitcoin works.

According to Musk, this app is designed to be super secure. It will have end-to-end encryption, disappearing messages, and the ability to send any kind of file.

“You can do audio/video calls without a phone number across all platforms,” Musk said in a follow-up post.

Source | X

When asked to Musk’s own AI agent grok to compare XChat with existing platforms like telegram and signal it replied:

“XChat, Signal, and Telegram differ in features and security. XChat, recently announced, offers end-to-end encryption, vanishing messages, and X integration, but its beta status and lack of audits raise doubts. Signal provides default end-to-end encryption and minimal data collection, ideal for privacy but lacks advanced features. Telegram supports large groups and bots, but only Secret Chats are encrypted, with metadata collection concerns. Choose Signal for security, Telegram for versatility, or XChat for X users, though its unproven security warrants caution.”

Amid this announcement bitcoin is trading at price of $104,492 with losing interest among traders as volume has dropped by 17%.

Also Read: Elon Musk’s Tesla to Buy $3 Billion in Bitcoin: Fact Check





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June 2, 2025 0 comments
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Republican Operatives Want to Distance Themselves From Elon Musk's DOGE
Gaming Gear

Republican Operatives Want to Distance Themselves From Elon Musk’s DOGE

by admin May 31, 2025


For weeks, White House officials and Republican operatives weren’t quite sure when, or if, Elon Musk would actually be leaving the government. Now, many Republicans are already looking to distance themselves from Musk’s team entirely.

“Everybody is in a bit of a fucking pinch,” a Republican with knowledge of the situation tells WIRED. “You know, the whole thing’s just fucking ridiculous, honestly. People agree with what he’s trying to do. But some people just need a villain.” WIRED spoke to a number of close advisers and operatives in Trumpworld, who were granted anonymity because of the sensitive nature of the topic.

While Musk’s step-back seems to be imminent, those inside and around the White House are unsure of what all of this means for the future of his so-called Department of Government Efficiency (DOGE).

Still, none of the Republicans interviewed for this story believe DOGE is going anywhere anytime soon. “DOGE is popular,” says a source close to the White House. “Even if Elon, personally, is less so.” (Polls show that DOGE is not popular with the public.)

The White House did not reply to requests for comment.

Today, Trump will hold a dual press conference with Musk in what appears to be an attempt at a final send-off. “This will be his last day, but not really, because he will, always, be with us, helping all the way,” Trump posted on Truth Social, announcing the event. “Elon is terrific!”

While Musk’s supposed departure has been making headlines, to those attuned to DOGE’s actual workings, the most seismic move came on Thursday, when news broke that top Musk lieutenant Steve Davis would also be leaving DOGE. Davis has worked with Musk for years, including at X and as the president of the Boring Company. He has been vital to day-to-day DOGE operations, and Sahil Lavingia, a recently fired DOGE staffer, told WIRED that Davis led the group. “Steven was the only person who was across everything,” Lavingia says.

Not everyone in Trumpworld, though, was aware of his role. “I don’t know who Steve Davis is,” a well-placed source close to the White House tells WIRED, claiming that other Trump advisers and White House aides are equally in the dark about one of the most important operators in the government takeover.

White House sources do say, however, that they are looking forward to the departure of Katie Miller, the wife of White House deputy chief of staff for policy Stephen Miller, whom CNN reports will be working for Musk, with one source telling the outlet she is now with Musk “full-time.” She’s been one of Musk’s key allies since his arrival in Washington, and, as WIRED reported in February, has been the one tasked with delivering him bad news. Both Millers have been credited with showing Musk around Washington and accompanying him to events.

“There’s a lot of people in the business that work with her, or have worked with her, and she leaves bodies everywhere she’s been,” a senior Republican strategist with knowledge of the situation tells WIRED.

Katie Miller did not reply to requests for comment.

Republicans also said there was a palpable sense of relief about the prospect of DOGE getting out of the headlines even before Musk and different members of his leadership team appeared to begin their departures.

A Republican donor organizer and campaign adviser tells WIRED that they’re unconvinced Musk won’t come back. (“Nothing is cast in stone with Trump and his people,” they say.) Nonetheless, they say, they’re telling clients running for office—both new candidates and incumbents—to use Musk’s exit as a chance to distance themselves from the DOGE chain saw.

“I think people need to distance themselves from it,” they say.



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May 31, 2025 0 comments
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GameFi Guides

Elon Musk Pivots From DOGE to SpaceX Mars Plan, Eyeing Self-Sustaining Colony by 2029

by admin May 31, 2025



In brief

  • Elon Musk outlined a bold plan to colonize Mars, targeting a self-sustaining colony by the end of the decade.
  • Musk’s plan includes building 1,000 Starships a year to support large-scale Mars transport.
  • Reusable rockets and orbital refueling are vital to Musk’s plan for a multiplanet species.

Fresh off his official departure from the Department of Government Efficiency, or DOGE, Elon Musk unveiled a bold plan to colonize Mars and make humanity a multiplanet species on Thursday during a presentation at Starbase, Texas, the newly incorporated city established by SpaceX.

Musk outlined plans for an interplanetary transport system designed to ferry humans to the Red Planet, with the ultimate goal of establishing a self-sustaining city there. Though he gave no timetable during his speech, in March, he predicted that humans would live on Mars within the next 20 years.

“Progress is measured by the timeline to establishing a self-sustaining civilization on Mars. That’s how we gauge progress here at Starbase,” Musk told the audience. “Each launch—especially in the early days of Starship—is about learning what’s needed to make life multiplanetary and improving Starship until it can ultimately carry hundreds of thousands, if not millions, of people to Mars.”

Musk’s renewed push to reach Mars comes after he stepped down from his role as head of DOGE under President Trump. Elon Musk’s ambition to colonize Mars has been central to his outlook for humanity’s future since he first proposed the endeavor.

The plan to reach Mars relies on SpaceX’s Starship and orbital refueling, with uncrewed missions set to begin in 2026, aiming to establish the first human settlements on Mars by 2029. Musk estimated that one million tons of cargo will be needed to establish a self-sustaining Mars colony, involving thousands of Starship launches.

“We’re now at the point where we can produce a ship roughly every two or three weeks,” Musk claimed. “We don’t always produce one that often because we’re making design upgrades, but ultimately we’re aiming for the ability to produce 1,000 ships a year—three ships a day.”

In addition to the massive Starship, SpaceX’s roadmap to Mars centers on key elements including the new Raptor 3 engine for greater efficiency, a reusable heat shield to survive atmospheric reentry on both Earth and Mars, and orbital refueling to extend range and maximize payload capacity.

Raptor 3 (sea level variant)

Thrust: 280tf
Specific impulse: 350s
Engine mass: 1525kg
Engine + vehicle-side commodities and hardware mass : 1720kg pic.twitter.com/zormSroZyh

— SpaceX (@SpaceX) August 3, 2024

Musk said SpaceX will use Tesla Optimus robots to lay the groundwork and construct the Mars colony. The first human missions are set for 2027, with the Arcadia Planitia region targeted as a potential site for the initial settlement. Long-term goals include transporting at least 1 million tons of infrastructure, building multiple launch and landing facilities, and using Starlink satellites to maintain communication.

Ultimately, Musk said, the objective is to establish a self-sustaining civilization on Mars as a backup for humanity.

“At that point, we’ve achieved civilizational resilience where Mars can potentially come to the rescue of Earth if something goes wrong or maybe Earth could come to the rescue of Mars,” he said. “But having two planets that are both self-sustaining and strong, I think, is going to be incredibly important for the long-term survival of civilization.”



Once Mars is colonized and serves as a stepping stone, Musk said, humanity could begin journeying to other planets in the solar system—and eventually, to other star systems.

Orbital refueling and propellant transfer, Musk said, are critical to the success of reaching Mars.

“Think of it like aerial refueling for planes—but in orbit. It’s never been done before, but it’s technically feasible,” he said. “Two Starships would dock, and one would transfer fuel and oxygen. Most of the mass is oxygen—about 80%—with just over 20% fuel. You send a Starship to orbit full of payload, then send others to refill its propellant.”

Despite a controversial foray into politics and setbacks including a Starship exploding over Turks and Caicos in January and another exploding on Wednesday, Musk appears committed to the mission of reaching Mars—a mission he said isn’t just about technology, but about shaping the future of humanity.

“We can be out there among the stars, making science fiction no longer fiction,” he said.

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May 31, 2025 0 comments
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Elon Musk sure does want everyone to think he’s leaving politics
Gaming Gear

Elon Musk sure does want everyone to think he’s leaving politics

by admin May 30, 2025


For the past several months, it seemed like President Donald Trump and Elon Musk were inseparable. The tech billionaire and “First Buddy” championed Trump on his reelection campaign trail, slept at the White House, attended deal-making dinners at Mar-a-Lago, and chainsawed a giant hole in the government with firings and spending cuts through DOGE.

Now, Musk is saying he’s had a change of heart. On May 28th, Musk announced that he’s officially stepping away from DOGE as his “scheduled time as a Special Government Employee comes to an end.” And in the days leading up to this update, Musk has held a flurry of interviews in which he’s tried to convince his audience that he’s done with politics.

“I think I probably did spend a bit too much time on politics,” Musk said during an interview with Ars Technica. “It was just relative time allocation that probably was a little too high on the government side, and I’ve reduced that significantly in recent weeks.” For reasons we’ve explained, the idea he’s leaving politics is suspect — but he’s got good reasons to say he is.

Musk’s time as a special government employee always had a legal 130-day deadline that was up at the end of May. He isn’t known for strictly obeying laws, and at the height of his power at DOGE, it wasn’t clear if he would follow this one. But as the deadline neared, there were numerous signs Musk was wearing out his welcome in Washington. News outlets reported clashes with other Trump administration members, including an argument that saw Treasury Secretary Scott Bessent repeatedly shouting “Fuck you!” in the West Wing. After Trump announced sweeping tariffs and a trade war with China — both of which threatened Musk’s electric vehicle business — the billionaire retaliated in a public spat with trade advisor Peter Navarro.

“I must be super focused on X/xAI and Tesla.”

A rift between Trump and Musk opened up with the Republican-backed “Big Beautiful Bill,” which Musk dubbed a “massive spending bill” that “increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing” in an interview with CBS. And in one more loss, Trump greenlit OpenAI’s plan to build data centers in Saudi Arabia, despite Musk’s attempts to “derail” the deal for not including xAI, according to a report by The Wall Street Journal.

Last month, the White House dismissed rumors that Musk’s departure from DOGE was imminent. “Elon Musk and President Trump have both publicly stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete,” White House Press Secretary Karoline Leavitt said at the time. Now, just weeks later, a source told Reuters that Musk didn’t have a conversation with Trump before he revealed that he’s leaving, and that “his departure was decided at a ‘senior staff level.’”

Arguably, the bigger issue is Musk’s shareholders getting nervous about his detachment from his companies, so as part of his alleged transition from government employee to just a regular billionaire, he’s started to reemphasize his commitment to his businesses.

Tesla is in trouble, with Musk’s involvement in the government leading to a sinking stock and making it a target for protests. It saw a massive dip in sales throughout Europe in particular. As part of efforts to regain favor among investors, Musk said last week that he’s committed to leading Tesla for the next five years. “It’s not a money thing,” Musk said during an interview with Bloomberg at the Qatar Economic Forum. “It’s a reasonable control thing, over the future of the company, especially if we’re building millions, potentially billions of humanoid robots.” Tesla is also gearing up to introduce its robotaxi service next month, according to Bloomberg, despite sharing little detail about the milestone.

Then there’s X, which Musk’s xAI purchased for $33 billion on paper in March. The platform has seen a big dip in European users and has been plagued by outages in recent weeks. “Back to spending 24/7 at work and sleeping in conference/server/factory rooms,” Musk wrote on X last week in response to a post about an outage on X. “I must be super focused on X/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.”

This week, Musk returned to Texas for SpaceX’s Starship launch — sans MAGA hat. In interviews with Ars Technica, Musk talked up the company’s plans to bring humans to Mars and build a base on the Moon. “We should be going 1,000 times farther, and going to Mars,” Musk said. “And if we are gonna go to the Moon, I think we should do a Moon base, or something that’s the next level beyond Apollo.”

The Washington Post also caught up with Musk at SpaceX’s headquarters in Starbase, Texas, where he similarly reiterated the company’s big ambitions about getting to Mars. “SpaceX is sort of ultra hardcore,” Musk told the outlet. “But if we’re not ultra hardcore, how are we going to get to Mars? You’re not going to get to Mars in 40 hours a week.”

When talking about his time in DC, Musk pointed out the “uphill battle” he faced trying to get things done, and reflected on the negative sentiment surrounding DOGE’s nearly wholesale attempted destruction of several government agencies, including cuts to projects like Ebola prevention. “DOGE is just becoming the whipping boy for everything,” he told the Post. “So, like, something bad would happen anywhere, and we would get blamed for it even if we had nothing to do with it.”

Even while downplaying his political ambitions, though, Musk didn’t disavow them. He told the Post that he’s not completely done with DOGE, and that the agency will focus “a bit more like tackling projects with the highest gain for the pain, which still means a lot of good things in terms of reducing waste and fraud,” without mentioning what those were.

Musk may not be present at the White House or brushing shoulders with Trump on world tours, but his specter still looms over DC.





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May 30, 2025 0 comments
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NFT Gaming

Elon Musk Bids Adieu During Final Days as Special Government Employee at DOGE

by admin May 29, 2025



In brief

  • Musk confirmed Wednesday he is stepping down from DOGE, the Trump administration agency he co-founded to fight federal waste.
  • His exit, expected by May’s end due to Special Government Employee limits, leaves the agency without either of its original figureheads.
  • Despite claiming $175 billion in savings, DOGE has faced backlash over inflated figures, partisan clashes, and a spending surge that Musk says undermines its mission.

Elon Musk confirmed Wednesday that he is stepping down from his position at the Department of Government Efficiency (DOGE), the Trump agency he helped launch to combat federal waste.

“As my scheduled time as a Special Government Employee comes to an end, I would like to thank President Donald Trump for the opportunity to reduce wasteful spending,” Musk posted on X. “The DOGE mission will only strengthen over time as it becomes a way of life throughout the government.”

The move was widely expected. As a Special Government Employee, Musk was capped at 130 working days per year—a threshold he was projected to reach by May 30. His departure leaves the agency—initially co-led by himself and fellow billionaire Vivek Ramaswamy, who left in January—without either of its original public faces.

DOGE, named in part as a nod to Musk’s favored crypto Dogecoin, was created to address what Musk termed the “existential” threat of national debt. Its team claims to have saved $175 billion through government cuts, though that figure has been widely disputed.

Musk’s government involvement has paralleled his broader shift toward political activism, which has often drawn criticism. His leadership of DOGE coincided with a spate of scandals and partisan clashes, including lawsuits and public rebukes from figures such as Senator Elizabeth Warren, who called the initiative a “venue for corruption.”

DOGE’s efforts have also been stymied by Trump’s recent spending spree, with Musk saying a massive new spending bill “undermines” DOGE’s mission.

Reining it in

The fallout of Musk’s dalliance with the White House has hit his companies hard. Tesla, for instance, has seen plunging sales, employee unrest, and brand damage. Pension fund leaders have recently urged Tesla’s board to rein in Musk’s extracurricular activities and demand greater focus on the EV company.

Rumours in April that he would step down from DOGE sent stocks in his companies soaring.

“DOGE is just becoming the whipping boy for everything,” Musk told the Washington Post yesterday. “People were burning Teslas. Why would you do that? That’s really uncool.”

This week, however, has marked new developments at his companies. The launch of Starship Flight 9 by SpaceX yesterday saw the rocket reach space before it broke apart, with the ship traveling further than the company’s previous two attempts.

Also this week, Neuralink raised $600 million at a $9 billion valuation. At the same time, X also unveiled “X Money,” a very limited-access beta digital wallet linked to the platform and part of a long-term push to create an all-in-one app.

While Musk indicated on a Tesla earnings call in April that he would reduce his time spent on politics and dedicate more attention to his businesses, he isn’t out of politics for good. 

He has signaled continued ties to the Trump administration, retaining a small White House office and committing to “a day or two per week” of government work.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



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May 29, 2025 0 comments
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Asia Morning Briefing: All Eyes on TON as Elon Musk Pours Cold Water on xAI Deal Talks
NFT Gaming

Asia Morning Briefing: All Eyes on TON as Elon Musk Pours Cold Water on xAI Deal Talks

by admin May 29, 2025



Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

Telegram's blockbuster deal with xAI, which would see Elon Musk's AI company integrate into Telegram and the two firms share revenue, is still a work in progress despite an announcement from Pavel Durov earlier Wednesday, U.S. time, that the deal was inked.

TON, a token affiliated with Telegram's ecosystem, is trading at $3.30, rallying there from $3 after the initial – now refuted – announcement of the partnership was made. The token is down from an earlier high of $3.68, after Elon Musk posted on X that no deal had been signed between the two companies. TON is still up 11% on the day, according to CoinDesk market data.

While Durov has now confirmed that no deal has been signed, the Telegram founder said there is an “agreement in principle” which might be why TON still has significant support at the $3.30.

All eyes will be on Telegram and xAI as the Asia business day begins to see if more clarification comes from either side.

Unknown block type “articleLink”, specify a component for it in the `components.types` option

Decentralized BlueSky isn't a Web3 Company, Says CEO

VANCOUVER—Jay Graber, the CEO of fast-growing decentralized social media platform Bluesky, got her start in Web3 as a developer for privacy coin zCash, but she wants to keep her X competitor firmly in Web2.

Speaking at Web Summit in Vancouver on Wednesday, Graber argued blockchain technology’s permanence and resource-intensive design make it unsuitable for consumer-oriented social networks, where content is fleeting and personal.

“Why do you need your picture of what you post for lunch being maintained forever in this digital archive?” she asked on stage, highlighting the inherent scalability and cost limitations that drove her decision to avoid blockchain at Bluesky.

Graber, to be sure, isn't against crypto. She says there's still genuine value in the technology for things like payments and digital identity, even if sometimes Web3 often presents solutions in search of a problem, and has a trend of gravitating towards centralization.

“There’s a period where everyone was creating blockchain like this hammer, and we were just going to try blockchain for everything,” Graber said. “Every system that's trying to do it ends up with concentrations because it's easy, and convenience ultimately wins at the end of the day.”

For her, Bluesky's future lies in combining the ideals of decentralization, such as user autonomy and portability, with practical, Web2 infrastructure to create a platform that prioritizes users' needs.

“Blockchain will probably find its place somewhere in the world of technology, but Bluesky is not on a blockchain because we're just making the best choices for our users,” she concluded.

Nvidia's Earnings Beat Boosts Stock, Offers Modest Lift to AI Tokens

Shares of Nvidia rose roughly 4% in after-hours trading Wednesday after reporting stronger-than-expected first-quarter earnings, highlighted by a 69% revenue increase from last year and a 73% jump in its data center business driven by robust demand for AI chips. Net income rose 26% to $18.8 billion, boosting Nvidia’s year-to-date performance modestly higher, CoinDesk previously reported.

The earnings report provided a slight lift to AI-related crypto tokens like Bittensor (TAO), NEAR Protocol, and Internet Computer (ICP), though gains were modest.

However, Nvidia tempered future expectations, cautioning that second-quarter revenue might fall short of market estimates due to tariff-related trade tensions between the U.S. and China.

Market Movements:

  • BTC: Bitcoin dipped 1.2% to $107,800, though NYDIG sees more room for gains. At the same time, crypto markets shrugged off a U.S. court blocking Trump's broad tariffs as unconstitutional, with BTC trading remaining muted.
  • ETH: Ether is trading above $2700 as Asia begins its business day. Earlier, CoinDesk analyst Omkar Godbole wrote ETH is eying a breakout above $3,000, forming a bullish “ascending triangle” pattern with rising support and resistance at $2,735, as higher lows signal growing buying pressure and accumulation ahead of a potential price surge.
  • Gold: Gold has slipped 1% to $3,267.47 amid cooling safe-haven demand, though tariff and geopolitical uncertainty linger.
  • Nikkei 225: The Nikkei 225 is opening in the green, up 1%, as investors in export-reliant Japan are looking at a recent announcement that the Supreme Court has blocked Trump's tariffs with cautious optimism, even as crypto shrugged it off.
  • S&P 500: While the S&P 500 closed in the red, futures are up 1% as traders await more clarity regarding the court's move to block Trump's tariffs.



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