Donald Trump has made a promise — to turn the U.S. into a crypto powerhouse.
Here’s the latest crypto news: Donald Trump, U.S. presidential candidate, has reinforced his support for cryptocurrency, along with endorsing tech billionaire Elon Musk to lead a new government task force.
Speaking at the Economic Club of New York on September 5, the former president reiterated his commitment to the digital asset industry, highlighting his vision for future innovation.
Trump stated:
Instead of attacking industries of the future, we will embrace them including making America the world capital of crypto and Bitcoin.”
Trump also thanked Tesla CEO Elon Musk for his endorsement, revealing that Musk had agreed to lead a new government efficiency commission.
According to cryptocurrency news today, this task force would be responsible for conducting a full audit of federal finances and operations, recommending significant reforms. “We need to do it, and we can’t go on the way we are now,” Trump added.
Musk echoed these sentiments in a post on X (formerly Twitter) on September 6, stating, “This is badly needed” and “This would unlock tremendous prosperity for America.”
Trump humorously noted that Musk had agreed to head the task force “because he’s not very busy.” Musk later confirmed in a September 5 X post, “I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.”
Russian-American computer scientist and podcaster Lex Fridman weighed in, saying, “I hope that whoever wins, Harris or Trump, they’ll take you up on your offer to help increase government efficiency.”
One of the task force’s first priorities would be to develop an “action plan” aimed at eliminating fraud and improper payments within six months. Trump emphasized that this could save trillions of dollars, noting, “For the same service you have now, trillions of dollars are wasted, and nobody knows where it went.”
According to the U.S. Government Accountability Office, federal agencies made an estimated $236 billion in improper payments in 2023, with cumulative improper payment estimates since 2003 totaling around $2.7 trillion.
In this campaign, Trump has positioned himself as a pro-crypto candidate, appealing to a growing base of voters interested in digital assets. He also hinted at a family project focused on expanding the use of dollar-pegged stablecoins in decentralized finance, although details remain scarce.
