Elon Musk has announced his resignation as the head of the Department of Government Efficiency (DOGE) after facing challenges in reducing federal spending. Musk, a Special Government Employee, was limited to serving 130 days, which ended on May 30. He thanked President Trump for the opportunity but expressed the difficulty of the task. Despite claims of saving $175 billion, critics dispute the figures. Musk aimed to cut $2 trillion but revised it to $150 billion. DOGE has reduced the federal workforce by 12%. Musk's involvement in politics has impacted Tesla's performance, leading to a drop in shares. However, Tesla still holds 11,509 Bitcoin worth $1.24 billion. Musk's decision to reduce involvement in DOGE boosted Tesla shares. Overall, Tesla shares are down 5.9% this year, aligning with other tech firms facing challenges in 2025. Read more AI-generated news on: https://app.chaingpt.org/news

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