Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Bitcoin Sees a Huge $3 Billion Surge in Realized Capitalization in Just 24 Hours

20/07/2025

Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

20/07/2025

This BlackRock stock just spiked over 300% 

20/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Bitcoin Sees a Huge $3 Billion Surge in Realized Capitalization in Just 24 Hours

    20/07/2025

    Why did Bitcoin just hit an all-time high?

    20/07/2025

    Strategy’s Bitcoin bet sees over $23B in gains as BTC tops record $110K

    20/07/2025

    Bitcoin Is Roaring and Analysts Say Altcoins Could be Next

    20/07/2025

    Will ETH Pull Back to $2.8K Before Next Leg Up?

    18/07/2025

    BlackRock Just Broke Major 2,000,000 Ethereum (ETH) Milestone

    18/07/2025

    How Will Coinbase Rebrand Its Wallet?

    18/07/2025

    Ether Sees Record Short Build up as Hedge Funds Pile on Basis Trade

    18/07/2025

    Ripple Expands RLUSD Stablecoin Utility With This New Integration: Details

    20/07/2025

    Injective launches native EVM testnet to power Ethereum-compatible apps

    20/07/2025

    Filecoin and OpSci Secure 500 TB of Brain Data Forever

    20/07/2025

    Andrew Tate’s cryptocurrency crashes to an all-time low

    20/07/2025

    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

    14/07/2025

    Volume Plunges While Transactions Soar

    11/07/2025

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    10/07/2025

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    10/07/2025

    Bitcoin Sees a Huge $3 Billion Surge in Realized Capitalization in Just 24 Hours

    20/07/2025

    Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

    20/07/2025

    This BlackRock stock just spiked over 300% 

    20/07/2025

    Ripple Expands RLUSD Stablecoin Utility With This New Integration: Details

    20/07/2025
  • Blockchain

    Neurolov and Deepbook AI Build DeFi Browser Backed by Distributed GPUs

    20/07/2025

    ArtGIS Finance and Burnr Chat to Power Private, Secure Cross-Chain Transactions

    20/07/2025

    SoonChain and BluwhaleAI Join Forces to Enhance Personalized AI Agents Across Web3

    20/07/2025

    DAC Platform and DeepBook AI Collaborate to Gamify Web3 Browsing Experience

    20/07/2025

    TADA Denver Unleashes Revolutionary Zero-Commission Blockchain Ride-Hailing

    19/07/2025
  • DeFi

    Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

    20/07/2025

    Bitcoin DeFi Has Ballooned 20x Since Start of 2024 as Builders Bet on Yield

    19/07/2025

    Securitize Takes Tokenized Hamilton Lane Credit Fund Multichain, Bringing It Closer to DeFi

    19/07/2025

    Decentralized Exchange dYdX Acquires Social Trading App Pocket Protector

    19/07/2025

    Cardano Now Live in Blockchain.com DeFi Wallet, Trading Volume Hits $2.98B

    19/07/2025
  • Metaverse

    Elon Musk’s xAI Quietly Fixed Grok by Deleting a Line of Code

    09/07/2025

    Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

    08/07/2025

    Apple’s Top AI Exec Leaves For Meta Amid Aggressive Hiring Trend

    08/07/2025

    Automobili Lamborghini Unveils Digital Temerario and GT3 NFTs in Wilder World

    07/07/2025

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025
  • Regulation

    This BlackRock stock just spiked over 300% 

    20/07/2025

    Transak lists Tether Gold (XAU₮) on its platform 

    20/07/2025

    Unveiling MJPY, MKRW, and MUSD Stablecoin Trademarks

    20/07/2025

    Venture capital funding tops $2.8B in June

    20/07/2025

    OpenAI denies any connection to Robinhood’s new product

    20/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Exchange-run launchpads average 10x gains but face scrutiny over steep valuations, opaque models

    18/07/2025

    MOEX to offer futures tracking the value of Ethereum

    18/07/2025

    Binance, KuCoin & Upbit Volumes Tank as Traders Flock to Decentralized Exchanges

    18/07/2025

    eToro Enters Singapore amid Approval of MAS Licence

    18/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Shadow War Joins Nexus Night to Redefine DeFi

    19/07/2025

    CARV Joins Anomaly Games to Redefine AI-Led Gaming Interoperability

    18/07/2025

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    16/07/2025

    Crypto games are struggling in 2025, but big brands aren’t giving up

    15/07/2025

    Bitcoin Minimum Fee Rate Slashed by 90%—Is That a Good Thing?

    19/07/2025

    ASIC Bitcoin Miners Are Back in Profit Mode—Here’s What They’re Making Daily

    19/07/2025

    U.S.-Listed Bitcoin Miners Reach New Peak Share of Global Hashrate

    17/07/2025

    French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

    17/07/2025

    An Indian Court Takes a Hard Line on Crypto Crime

    19/07/2025

    US gov’t weaponised evidence against Tornado Cash, report

    19/07/2025

    South Korean Court Acquits Former Wemade CEO in WEMIX Token Manipulation Case, Future Appeals Possible

    19/07/2025

    US President Donald Trump Makes Hot Remarks on Cryptocurrencies – Shares a Long Statement

    18/07/2025

    Bitcoin Sees a Huge $3 Billion Surge in Realized Capitalization in Just 24 Hours

    20/07/2025

    Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

    20/07/2025

    This BlackRock stock just spiked over 300% 

    20/07/2025

    Ripple Expands RLUSD Stablecoin Utility With This New Integration: Details

    20/07/2025
  • MarketCap
NBTC News
Home»Legal»Elon Musk criticizes Trump’s bill for undermining his DOGE cost-cutting efforts
Legal

Elon Musk criticizes Trump’s bill for undermining his DOGE cost-cutting efforts

NBTCBy NBTC29/05/2025No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


Donald Trump made it clear from the White House on Wednesday that he has no regrets about his latest tax bill, even after sharp public complaints from his so-called best friend Elon Musk.

The president brushed aside Elon’s criticism during a press briefing, saying the administration needed broad Republican backing in Congress to pass the legislation. “Number one, we have to get a lot of votes,” Trump told reporters. “We can’t be cutting — you know, we need, we need to get a lot of support.”

The backlash came after Elon told CBS News he was “disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing.”

According to CBS, Elon expressed frustration with how the bill undermines his Department of Government Efficiency — or DOGE — which he has led since January in a high-profile attempt to reduce wasteful federal spending.

Elon calls the bill wasteful, Trump defends compromises

Elon didn’t hold back when describing Trump’s so-called “One Big Beautiful Bill Act,” which combines sweeping tax cuts with increased funding for the military and border security.

“I think a bill can be big or it can be beautiful,” Elon said, “but I don’t know if it can be both.” His statement echoed warnings from budget analysts who say the bill could expand the deficit by trillions over the next decade.

The bill scraped through the House last week, but it faces major changes in the Senate to win over skeptical Republicans. Trump admitted he isn’t happy with everything in the bill, saying, “We will be negotiating that bill, and I’m not happy about certain aspects of it, but I’m thrilled by other aspects of it.

That’s the way they go.” He emphasized that the tax cuts were the centerpiece of the legislation. “The level of tax cutting that we’re going to be doing,” he said, was what made the entire deal worth it.

DOGE, under Elon’s leadership, claims to have saved $170 billion in taxpayer money since January by shutting down redundant departments and slashing staff across multiple agencies.

The US Agency for International Development was gutted, and other offices saw massive staff reductions. A report from Challenger, Gray & Christmas estimated 275,000 jobs have been cut from the federal government because of DOGE-linked reforms.

DOGE’s numbers face scrutiny as Elon retreats from government

Not everyone buys Elon’s math. The Associated Press previously reported that 40% of the government contracts canceled by DOGE weren’t expected to save the Treasury any real money. In February, The New York Times noted that DOGE quietly removed five of its most promoted savings claims from its own website.

The Congressional Budget Office estimates that Trump’s bill would raise the federal deficit by $3.8 trillion over the next ten years. In 2025 alone, the deficit is expected to run close to $2 trillion, with the national debt currently sitting at $36.2 trillion.

Despite these projections, Trump and congressional Republicans insist the bill will trigger enough economic growth to offset the impact of the tax cuts.

Elon, for his part, is stepping back. During Tesla’s first-quarter earnings call, he said he plans to cut down his involvement with DOGE and spend more time running Tesla, SpaceX, and X. Even so, he plans to keep a small office at the White House and spend “a day or two per week” on DOGE duties until the end of Trump’s term.

Speaking to The Washington Post, Elon said he underestimated how bad the federal bureaucracy really was. “It’s much worse than I realized,” he said.

“DOGE became the whipping boy for everything.” His alliance with Trump and public comments have also sparked intense protests against Tesla. “People were burning Teslas,” Elon told the Post. “Why would you do that? That’s really uncool.”

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

An Indian Court Takes a Hard Line on Crypto Crime

19/07/2025

US gov’t weaponised evidence against Tornado Cash, report

19/07/2025

South Korean Court Acquits Former Wemade CEO in WEMIX Token Manipulation Case, Future Appeals Possible

19/07/2025

US President Donald Trump Makes Hot Remarks on Cryptocurrencies – Shares a Long Statement

18/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Bitcoin Sees a Huge $3 Billion Surge in Realized Capitalization in Just 24 Hours

20/07/2025

Base Surpasses $1.2B TVL on Aave, Solidifying its Reputation in DeFi Landscape

20/07/2025

This BlackRock stock just spiked over 300% 

20/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.