#Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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D.O.G.E to Remove Hundreds of DHS Officials in Major Restructuring Effort
KeyTakeaways:
Elon Musk’s Department of Government Efficiency (D.O.G.E) is purging top Department of Homeland Security (DHS) officials, with hundreds of employees set to be removed this week. This move is part of a broader restructuring effort initiated under the Trump administration, focusing on officials seen as obstacles to the administration’s policies, particularly in immigration enforcement.
The dismissals affect senior personnel within DHS, including Senior Executive Service (SES) members and General Schedule 15 (GS-15) employees. The firings are mainly concentrated within critical divisions such as FEMA, U.S. Citizenship and Immigration Services (USCIS), and the Cybersecurity and Infrastructure Security Agency (CISA)
The Trump administration views this action, which began late last week, as necessary to reduce waste and remove individuals who may be hindering immigration policy initiatives.
Federal Judge Grants D.O.G.E Access to Student Financial Data
In a related development, a federal judge ruled in favor of D.O.G.E, allowing the agency access to sensitive student financial data, including Social Security numbers, loan records, and tax information
This decision follows a lawsuit filed by the University of California Student Association to prevent D.O.G.E from collecting such data. The judge dismissed the concerns, stating that the alleged harm to students was speculative and unsupported by evidence.
D.O.G.E’s Expanding Influence
D.O.G.E’s role in restructuring the federal workforce under Elon Musk’s leadership has raised concerns, particularly regarding the scale of these changes and the agency’s growing control over multiple government sectors
While critics warn of long-term governance instability, some analysts believe these workforce reductions may boost investor confidence, particularly in U.S. government bonds. Despite the controversy, markets have shown little reaction to the mass firings.
Amidst these developments, the White House has clarified that Elon Musk is not directly in charge of D.O.G.E but serves as a Senior Advisor to the President. This has led to further questions about who leads the agency and how much influence Musk holds in restructuring.