Trump and Musk Face Criticism Over Crypto Ventures and Social Security Remarks

Elon Musk's Social Security comments draw backlash, while Trump's crypto initiatives raise ethical and regulatory concerns.

Elon Musk labeled Social Security as 'the biggest Ponzi scheme of all time,' a claim widely refuted by experts who emphasize its efficiency and importance to millions of Americans.
Critics argue that Social Security's financial challenges stem from income inequality and propose lifting the payroll tax cap to address funding issues.
Donald Trump's cryptocurrency, $Trump, reportedly caused $2 billion in losses for over 800,000 investors, while insiders, including Trump, profited significantly from trading fees.
The Trump administration's crypto policies, including the creation of a federal crypto reserve, have been criticized for benefiting Trump and his allies while reducing regulatory oversight on cryptocurrencies like memecoins.
The Social Security Administration announced plans to consolidate regional offices and cut thousands of jobs, moves linked to broader government restructuring efforts supported by Musk and the Trump administration.