Self-acclaimed “Crypto President” and presidential candidate Donald Trump has made another big crypto promise to the crypto community as he seeks their votes in the upcoming election. He has been known for many promises to them, but this one stands out.
More: Trump vs. Harris: Battle for Crypto Votes Heats Up
While speaking at the Economic Club of New York on September 5, the former US president said that he would eliminate at least ten old regulations for a new one.
Today, it was my Great Honor to Address the storied Economic Club of New York! pic.twitter.com/YzobFNSUgg
— Donald J. Trump (@realDonaldTrump) September 5, 2024
Donald Trump mentioned that instead of attacking what he called “industries of the future, " his administration will embrace them. He then added that his administration is very interested in “making America the world capital of crypto and Bitcoin.”
The “Crypto President” also thanked Elon Musk for his endorsement. He promised to create a “government efficiency commission.” According to him, this commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending drastic reforms.
This is badly needed https://t.co/H9AKYbDssZ
— Elon Musk (@elonmusk) September 5, 2024
This new initiative was recommended to Donald Trump by none other than Elon Musk. He also took to his X account to show his support for the initiative. He wrote about how badly needed it is and that it would unlock tremendous prosperity for America.
Musk has also shown dedication to this cause by agreeing to head this new task force if he has the time. Donald Trump seemed excited to get Elon Musk on the project, but only if he has the time.
Elon also mentioned in an X post that he looks forward to serving America if the opportunity arises, adding that he needs no pay, title, or recognition.
I look forward to serving America if the opportunity arises.
— Elon Musk (@elonmusk) September 5, 2024
No pay, no title, no recognition is needed. https://t.co/5PSNtjBQn7
Many people are excited about Elon Musk's announcement and are interested in government affairs. One such person is Russian-American computer scientist and podcaster Lex Fridman.
Fridman, less interested in who wins the election, said he hopes whoever wins, Harris or Trump, eventually takes up Elon’s offer to lead the task force and help increase government efficiency. He believes the move will save trillions of dollars since the government is already spending trillions on the same service Elon is offering for free.
A report released by the US Government Accountability Office has backed up Fridman’s case. It states that Federal agencies in the US have made $236 billion in “improper payments” in 2023 alone. The report shows a cumulative expense of $2.7 trillion for these improper payments since 2003.
This report suggests that Elon and Trump’s proposed project might be a good idea to save the United States government some serious money.
However, the chances of that happening are dependent on whether Trump wins the election or if Kamala Harris wins and takes him up on the offer. The most important factor is whether Elon has the time.
Richard Adrian
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