Elon Musk's DOGE commission gains access to sensitive Treasury payment systems: AP sources
Published On Feb 2, 2025, 8:30 AM
Elon Musk's initiative, referred to as the DOGE commission, has reportedly gained access to sensitive U.S. Treasury payment systems, including Social Security and Medicare data. This development has raised concerns among lawmakers about potential misuse of this access to manipulate federal payments. Following this news, the acting Deputy Secretary of the Treasury resigned, citing the importance of the Fiscal Service's work. Musk claims that the team discovered issues within the Treasury related to payment approvals but did not provide evidence for his claims.
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The news surrounding the DOGE commission and its access to sensitive Treasury payment systems could lead to increased scrutiny of Musk's initiatives and potential political fallout. Investors might become wary of companies aligned with his projects due to the legal and political risks. This could negatively impact stocks predominantly linked with Musk, including Tesla. The situation could also create volatility in Dogecoin's value given the connection to Musk.
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