President Donald Trump and Tesla CEO Elon Musk will hold a press conference at 1:30 PM (EST) today in the Oval Office. The event marks the last day Musk serves as the head of the Department of Government Efficiency (DOGE) – a special agency established to minimize waste in the federal administrative apparatus.
Musk, who was appointed in January, will officially end his 130-day term as per legal limits. In the anticipated speech, President Trump will express appreciation for Musk's efforts while emphasizing his continued influence through the Truth Social platform. Musk stated that the mission of government efficiency reform will continue and expand after he leaves office.
“The mission of @DOGE will only strengthen over time as it becomes a way of life throughout the government.”
– Elon Musk, CEO of Tesla and outgoing Director of DOGE
Although the press conference has garnered significant interest from the media and the public, there are currently no signs that it will have a direct impact on the cryptocurrency market. No new crypto policies, laws, or executive orders have been announced. Regulatory agencies like the SEC and CFTC have also not made any official comments.
Analysts believe that despite Musk's departure, DOGE still aligns with the U.S. government's long-term strategy for administrative reform and controlling public spending. Reactions from the crypto community and developers have also been quite muted, with no significant changes in the roadmaps of major blockchain projects like Bitcoin or Ethereum related to this event.
Although Elon Musk has had a significant influence on the crypto market through his statements and personal actions, today's event is primarily seen as symbolic and political – rather than a factor with direct economic impact.
