Thursday, October 23, 2025
Catatonic Times
No Result
View All Result
  • Home
  • Crypto Updates
  • Bitcoin
  • Ethereum
  • Altcoin
  • Blockchain
  • NFT
  • Regulations
  • Analysis
  • Web3
  • More
    • Metaverse
    • Crypto Exchanges
    • DeFi
    • Scam Alert
  • Home
  • Crypto Updates
  • Bitcoin
  • Ethereum
  • Altcoin
  • Blockchain
  • NFT
  • Regulations
  • Analysis
  • Web3
  • More
    • Metaverse
    • Crypto Exchanges
    • DeFi
    • Scam Alert
No Result
View All Result
Catatonic Times
No Result
View All Result

Elon Musk Calls for Blockchain to Overhaul U.S. Treasury Operations

by Catatonic Times
February 4, 2025
in Ethereum
Reading Time: 3 mins read
0 0
A A
0
Home Ethereum
Share on FacebookShare on Twitter


KeyTakeaways:

Elon Musk alleges Treasury officers approve unauthorized funds, sparking blockchain discussions for transparency.Advocates argue blockchain might forestall fraud by creating immutable information, however specialists spotlight political and infrastructure challenges.Musk’s D.O.G.E. process drive faces scrutiny over accessing taxpayer knowledge whereas he battles SEC lawsuit on X inventory disclosure.

Elon Musk has criticized the U.S. Treasury for allegedly approving fraudulent funds, proposing blockchain know-how as an answer. The remarks surfaced on February 2, when Musk claimed that Treasury officers violated legal guidelines by processing unauthorized transactions. He additional alleged that officers have been instructed to approve funds to fraudulent and terrorist-linked teams. 

Treasury Fraud Allegations and Blockchain Advocacy

Musk’s remarks on the X platform gained traction amongst trade commentators, together with Mario Nawfal, who questioned whether or not blockchain might forestall such points. Musk responded affirmatively, fueling debates on the feasibility of an immutable, clear ledger for federal transactions. 

Profession Treasury officers are breaking the legislation each hour of on daily basis by approving funds which might be fraudulent or don’t match the funding legal guidelines handed by Congress.

This must cease NOW!

https://t.co/Y0RMNebEWq

— Elon Musk (@elonmusk) February 2, 2025

Blockchain supporters argue that integrating the know-how would set up an irreversible document of each expenditure. They contend that this transparency would cut back monetary mismanagement, backdoor offers, and unauthorized allocations.

Nawfal famous that the Treasury processes transactions value trillions each day however operates inside an opaque system. He emphasised that implementing blockchain might forestall fraudulent actions and guarantee accountability. 

Lindsay Poss referenced Ukraine’s Clear Community, which tracks reconstruction funds to counter corruption. She identified that just about 40% of assist funds in Ukraine danger misappropriation, underscoring the advantages of on-chain monitoring.

surely.

the purpose of presidency providers are to offer for the individuals. clearly there’s large points with that in the meanwhile.

extremely, extremely advocate wanting on the work of the Clear Community in Ukraine. monitoring and tracing {dollars} which might be put into…

— Lindsay Poss (@LindsayPoss) February 2, 2025

Challenges in Implementing Blockchain in Authorities

Some specialists warning that transitioning the Treasury’s monetary operations to blockchain presents challenges. Crypto analyst Aquino highlighted that such a shift would require overhauling present infrastructure. He famous that political resistance might additionally decelerate adoption regardless of the potential advantages of transparency and fraud prevention.

Musk’s remarks come amid scrutiny of the Division of Authorities Effectivity (D.O.G.E.), which he leads. Experiences recommend that the duty drive could have accessed delicate taxpayer knowledge to withhold funds to sure authorities applications.

Tesla’s CEO can also be dealing with a authorized battle with the U.S. Securities and Alternate Fee (SEC). The lawsuit alleges he didn’t disclose his X holdings in a well timed method after buying over 5% of the corporate’s inventory. 

In the meantime, D.O.G.E. operations proceed following the resignation of co-lead Vivek Ramaswamy in January. Musk beforehand acknowledged that a number of the division’s measures might affect Bitcoin’s market progress.



Source link

Tags: BlockchainCallsElonMuskOperationsOverhaulTreasuryU.S
Previous Post

‘Up Only’ Phase Commencing After Crypto Market Correction Completes, According to Closely Followed Trader

Next Post

KyberSwap exploiter gets five-count criminal indictment after stealing $65M

Related Posts

Ethereum Founder Sparks Market Shock After Massive ETH Sell-Off – Here’s How Much
Ethereum

Ethereum Founder Sparks Market Shock After Massive ETH Sell-Off – Here’s How Much

October 22, 2025
Retail rails could push M a day on-chain
Ethereum

Retail rails could push $2M a day on-chain

October 22, 2025
Ethereum Could Unwind To ,850
Ethereum

Ethereum Could Unwind To $2,850

October 22, 2025
Is The Bitcoin Supercycle Still In Play? Wave 3 Tells A Story Of A Surge
Ethereum

Is The Bitcoin Supercycle Still In Play? Wave 3 Tells A Story Of A Surge

October 21, 2025
Fusaka Update – Transaction Gas Limit Cap arrives with EIP-7825
Ethereum

Fusaka Update – Transaction Gas Limit Cap arrives with EIP-7825

October 21, 2025
AWS failure exposes crypto’s centralized weak point
Ethereum

AWS failure exposes crypto’s centralized weak point

October 21, 2025
Next Post
KyberSwap exploiter gets five-count criminal indictment after stealing M

KyberSwap exploiter gets five-count criminal indictment after stealing $65M

Napier AI Lands Investment from Marlin Equity

Napier AI Lands Investment from Marlin Equity

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Catatonic Times

Stay ahead in the cryptocurrency world with Catatonic Times. Get real-time updates, expert analyses, and in-depth blockchain news tailored for investors, enthusiasts, and innovators.

Categories

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

Latest Updates

  • Diddy Strikes Back — Files Appeal as SBF’s Ex-Cellmate Joins Legal Rebellion
  • XRP Bounce In Sight? Bulls Hold $2.38 Support As Breakout Pressure Builds
  • Technical Analysis Suggests XRP’s Playbook From 2017 Could Repeat In 2025
  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2024 Catatonic Times.
Catatonic Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Crypto Updates
  • Bitcoin
  • Ethereum
  • Altcoin
  • Blockchain
  • NFT
  • Regulations
  • Analysis
  • Web3
  • More
    • Metaverse
    • Crypto Exchanges
    • DeFi
    • Scam Alert

Copyright © 2024 Catatonic Times.
Catatonic Times is not responsible for the content of external sites.