Elon Musk has reportedly gained 'read only access' to sensitive data in the US Treasury, raising alarms about the potential for legal violations. He has announced plans to transfer the Treasury to the blockchain, claiming it could prevent fraudulent payments, despite lacking evidence for his assertions. While announcing this initiative, Musk’s ideas on blockchain have been vague and undefined, creating confusion. His actions prompted a lawsuit from activist groups, causing turbulence in the crypto market, particularly affecting his favored asset, Dogecoin.
After a tense weekend in which Musk forced his way into the Treasury's servers, it was widely reported that he has 'read only access'.
Musk's radical plan to transfer the US Treasury to the blockchain raises many questions without clear explanations on implementation.
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