Elon Musk Steps Down from Government Efficiency Role
Elon Musk, the world’s wealthiest individual, has resigned from his position within the U.S. Department of Government Efficiency (DOGE) on Wednesday. This departure was anticipated and did not come as a surprise.
According to the department’s website, DOGE has saved American taxpayers $175 billion. To provide context, Brazilians paid R$ 1.6 trillion in taxes in 2025, according to Impostômetro data.
Musk expressed his gratitude to the U.S. President for the opportunity to serve in his administration and announced his departure from DOGE in a statement released on Wednesday. He emphasized that the department would continue its operations.
“As my scheduled time as a Special Government Employee comes to an end, I would like to thank the President for the opportunity to reduce wasteful spending. The DOGE mission will only strengthen over time as it becomes a way of life throughout the government.”
DOGE’s data indicates that the department has saved US$ 175 billion for the U.S., which translates to approximately US$ 1,086 for each of the 161 million American taxpayers.
DOGE’s Impact Questioned by Arthur Hayes
Despite DOGE’s fiscal achievements, figures like Arthur Hayes, the founder of Bitmex, are skeptical about its ability to salvage the American economy from potential economic challenges.
During a speech at the Bitcoin 2025 conference, Hayes argued that DOGE’s efforts and Elon Musk’s involvement represent a flawed policy. He believes that these spending cuts lead to a loss of votes.
“We’ve been talking a lot in the media about how certain people, and we’re going to get to that person, intend to contain government spending by eliminating fraud and abuse,” Hayes began. “We talked about it for a while, and then the protagonist of that effort, the DOGE, disappeared. We haven’t heard from him in a while, because that’s a bad policy.”
“Every dollar the government spends ends up in someone’s pocket. And if you come along saying you’re going to cut trillions of dollars from the deficit, that’s obviously going to impact a lot of people and a lot of businesses negatively. We’ve seen negative reactions to this, from the media, from people, and, in the end, I think the politicians realized: ‘Hey, this doesn’t get votes.’ So, they sent their attack dog [Elon Musk] off into the sunset to run his private company.”
Hayes concluded his presentation by suggesting that the American debt will continue to rise regardless of DOGE’s presence.
He predicts that the government will print US$ 8.9 trillion by 2028, which will drive Bitcoin to US$ 1 million in this cycle.
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