According to @DOGE, government agencies have canceled 47 contracts deemed wasteful, resulting in savings of $30.2 million. The canceled contracts had a total ceiling value of $87.5 million. Notably, the State Department canceled a $3.4 million contract for aviation advisors in Kenya, highlighting an effort to reduce unnecessary expenditures.

According to The Kobeissi Letter, the State Department's decision to shut down USAID could have ripple effects on global markets, including cryptocurrency. The termination of 900 employees may signal shifts in U.S. economic policy, potentially affecting investor confidence and market stability. Analysts will closely monitor these developments for any impact on cryptocurrency trading volumes and volatility.