ChainCatcher news, according to the Washington Post, two insiders revealed that the government efficiency department (DOGE) led by Musk is seeking to access the IRS system, which includes detailed financial information of every taxpayer, business, and nonprofit organization in the United States, raising deep concerns within the IRS.Under pressure from the White House, the IRS is considering signing a memorandum of understanding that would allow officials from the government efficiency department broad access to the tax agency's systems, properties, and datasets. This includes the Integrated Data Retrieval System (IDRS), which enables tax agency employees to access IRS accounts (including personal identification numbers) and banking information.

ChainCatcher news, according to an announcement from the U.S. Department of Government Efficiency (DOGE), the department has canceled 167 contracts today, saving approximately $115 million in expenditures. This includes a $2.23 million contract for the "Existing Program Policy Equity Assessment" from the Department of Health and Human Services (HHS).

ChainCatcher News, the U.S. Department of Efficiency (DOGE) posted on X stating that today, the Department of Education has terminated 29 DEI training grants totaling $101 million.One of the grants aimed to train teachers "to help students understand/explore the complex history involved in oppression and to help students identify areas of privilege and power on both personal and collective bases."

ChainCatcher news, Gemini co-founder Cameron Winklevoss believes that the initiatives of the Department of Government Efficiency (DOGE) are crucial in combating inflation, the "silent tax."It is reported that DOGE proposed to eliminate government waste and combat inflation in the United States. Last month, the inflation rate in the U.S. rose by 2.6% year-on-year, slightly higher than in September.Winklevoss emphasized the importance of addressing rising prices, stating that it imposes a disproportionate burden on low-income Americans, and he believes that these measures by DOGE are essential for achieving economic fairness and sustainability.

ChainCatcher news, according to Jinshi reports, Trump will appoint Musk (along with Ramaswamy) to lead the new Office of Government Efficiency. Musk announced during the campaign that he would cut U.S. federal spending by $2 trillion (nearly one-third). Ulrich Leuchtmann, head of foreign exchange and commodity research at Deutsche Bank, pointed out that this would have catastrophic consequences for the U.S. economy: "Musk does not believe in gradual and cautious approaches. I do not believe he can take a wise step.Some may say that their suggestions would only be suggestions, with the president and Congress in front during actual implementation. But if the suggestions are not going to be implemented, then why establish such an agency? The president would appear indecisive, which is exactly what Trump does not want to see.Using a radical austerity plan to create a bullish argument for the dollar is very clever, as it will significantly reduce the capital needs of the U.S. Treasury, thereby lowering the capital needs of the entire economy. U.S. government bonds will become scarce and expensive again. However, I believe that the dollar may initially be influenced by the inevitable expansionary monetary policy response."