ChainCatcher news, according to Business Insider, Musk's Government Efficiency Committee (DOGE) plans to send two representatives to major U.S. government agencies to lead cost-cutting efforts after President Trump takes office. Each agency will be equipped with two DOGE representatives.Representatives not assigned will be placed in the U.S. Digital Service (USDS), which provides IT consulting services for the federal government.Additionally, DOGE may also establish an office in the Office of Management and Budget (OMB) at the White House, responsible for budget preparation.

ChainCatcher news, according to Fox News, former U.S. President Trump stated that Musk wants to create a new position called "Chief Cost-Cutting Officer" to be responsible for cost reduction.

According to ChainCatcher news, based on information obtained from a former Binance employee and internal messages from Binance, the company has stopped providing benefits such as mobile reimbursements, fitness reimbursements, and work-from-home reimbursements since June 19. The internal message stated: "Considering the current market environment, along with the regulatory atmosphere leading to a decline in profits, we must be more cautious with our spending." The message also indicated that there may be more cost-cutting measures.ChainCatcher previously reported that Binance has informed internal teams to halt hiring and further layoffs are expected.