#Trump100Days Elon Musk Steps Back from Government Role to Refocus on Tesla
On April 30, 2025, Elon Musk announced his departure from the U.S. Department of Government Efficiency (DOGE) and President Trump's Cabinet, signaling a return to his primary focus on Tesla and other ventures.
A Strategic Shift Back to Business
Musk's decision follows a challenging period for Tesla, with a reported 20% drop in revenue and a 71% decline in net income during the first quarter of 2025. In an earnings call, Musk stated his intention to allocate more time to Tesla, reducing his government involvement to "a day or two per week" starting in May .
DOGE's Mixed Outcomes
Initially, DOGE aimed to cut $2 trillion in federal spending. However, the initiative has reportedly saved approximately $160 billion, while incurring costs estimated at $135 billion due to layoffs, rehiring, and legal disputes . Critics argue that these measures may have led to increased government expenses rather than savings .
Reactions and Future Involvement
During a Cabinet meeting, President Trump acknowledged Musk's contributions, suggesting a possible decline in his influence within the administration . Musk expressed gratitude for the experience and indicated he would continue to support DOGE in a limited capacity.
Looking Ahead
As Musk refocuses on Tesla and other ventures, the tech and business communities are watching closely. His departure from a prominent government role may signal a renewed emphasis on innovation and private sector initiatives.
#Write2Earn #orocryptotrends
In Q1 of 2025, Contango's TVL increased in $ETH terms despite market slowdown, reaching 17,500 ETH, up 34% quarter-over-quarter.
Similarly, OI kept growing in ETH terms — it was 168,200 ETH at the end of Q1, up 8% quarter-over-quarter.
@mitch_contango did a deep-dive into @Contango_xyz, check it out here: https://t.co/NHvwkGZHDO
Data via: @DefiLlama
There are reference points that help us understand where the market currently is.
For example, in the previous cycle, BTC topped out when late-pumps like PEPE completed wave 5.
This time, keep an eye on $XRP , in my view, when XRP finishes its wave 5, that’s likely when $BTC tops out.
{spot}(XRPUSDT)