According to a recent report from the Washington Post, Elon Musk, CEO of Tesla and SpaceX, is planning to resign from his leadership role in the D.O.G.E. by the end of the year. This announcement has shaken DOGE investors, who were previously very optimistic about the asset's price, mainly due to Musk's prominent role in this government agency.
The American billionaire had volunteered to lead the D.O.G.E. alongside V. Ramaswamy under the presidency of Donald Trump this year. However, since then he has faced much criticism, even considering his resignation after a humiliating political turn.
Despite having helped the U.S. government save several billion dollars to date, many federal agencies have looked skeptically at the new advisory panel under Trump. CoinGape recently reported that Senator Elizabeth Warren introduced a new bill primarily aimed at restricting Musk's role in the SGE. Taken together, these factors indicate that it is only a matter of time before the American billionaire leaves his federal position.
