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The Internal Revenue Service (IRS) will fire 15,000 employees next week, right in the middle of tax season, according to a report from AP. The mass termination is happening under Elon Musk’s Department of Government Efficiency (D.O.G.E.), a temporary agency created by executive order to cut federal jobs and slash government spending. The layoffs come after the Trump administration ordered all federal agencies to terminate probationary employees who haven’t secured civil service protection. It’s unclear if more IRS workers will be affected, but sources say the cuts are happening fast. IRS blocks tax season workers from taking buyouts The administration had already launched a “deferred resignation program” designed to push federal employees out with buyout offers. The deadline to apply was February 6, and workers who accepted will keep getting paid until September 30—even after leaving their jobs. But for IRS employees working on the 2025 tax season, the buyout was off-limits. The agency sent a letter telling them they must stay until the April 15 tax filing deadline before they could leave. The IRS started processing tax returns on January 27 and expects to handle over 140 million filings before the cutoff. The agency had been on track to expand operations after receiving $80 billion through Biden’s Inflation Reduction Act. The funding was meant to hire thousands of new workers and upgrade enforcement technology. But that plan fell apart. Republicans clawed back much of the money, and Elon’s D.O.G.E. is now eliminating positions instead of creating them. 14 states sue D.O.G.E. over government overreach Elon’s D.O.G.E. isn’t just cutting jobs—it’s also taking control of federal data. Attorneys general from 14 states sued this week, accusing the agency of operating without oversight. The lawsuit, filed in Washington federal court, argues that D.O.G.E. is making decisions only a Senate-confirmed official should be allowed to make. The complaint claims Elon’s team has “virtually unchecked power” and is violating constitutional rules about government agencies. The attorneys general argue that Trump’s executive order didn’t go through Congress, making D.O.G.E. legally questionable. A federal judge ruled in Elon’s favor on Friday, denying an attempt to block D.O.G.E. from accessing government records. Unions and nonprofit groups had filed for a temporary restraining order, trying to stop D.O.G.E. from collecting data from three federal agencies. The Department of Labor, the Department of Health and Human Services, and the Consumer Financial Protection Bureau Judge John Bates, appointed by George W. Bush, said the case was a “close question” but ultimately ruled that D.O.G.E. is an agency. That means it can send its employees to other government offices and access their records under the Economy Act. “The plaintiffs have not shown a substantial likelihood that [D.O.G.E.] is not an agency,” Bates wrote. “If that is so, [D.O.G.E.] may detail its employees to other agencies consistent with the Economy Act.” Federal judge questions D.O.G.E.’s legal structure Elon’s D.O.G.E. was designed to operate outside normal government channels. Instead of answering to the Office of Management and Budget (OMB), it reports directly to Trump’s chief of staff. Judge Bates called that structure “odd,” saying D.O.G.E. had been built to “avoid being an agency,” while still claiming agency privileges when it was convenient. “They took great effort to avoid being an agency, but in this case, you’re an agency,” Bates said. “It just seems to strain credulity.” The ruling gives Elon’s team full access to federal data, and the Justice Department is backing them. Government lawyers argued that D.O.G.E. employees are “detailed” government workers, meaning they have legal rights to see sensitive records. Elon reposted the ruling on X, writing: “LFG.” Concerns over Elon’s access to federal data Union attorneys representing Labor Department workers say D.O.G.E. could now access confidential financial, medical, and employment records. Lawyer Mark Samburg told the court that D.O.G.E. employees could pull data on taxpayer information, employee complaints, workplace safety violations, and medical histories. Some records involve ongoing investigations into Elon’s own companies. Tesla and SpaceX are both under review for workplace issues, and there’s concern that D.O.G.E. could get access to those files. Samburg warned that the ruling could have a “chilling effect” on government whistleblowers. Employees might hesitate to report problems or file complaints if they think D.O.G.E. could access their information. “The sensitive information of millions of people is currently at imminent risk of unlawful disclosure,” Samburg said. Unions and advocacy groups pushed for a temporary restraining order to prevent D.O.G.E. from pulling data until stricter oversight was put in place. Judge Bates denied the request. For now, Elon’s agency moves forward. The IRS terminations will happen next week. The layoffs, the data access, and the lawsuits are all in motion. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

Argentina’s President Javier Milei is under fire after promoting a cryptocurrency called LIBRA. The token tanked shortly after his endorsement, and now he’s facing serious blowback. Opposition lawmakers, like Leandro Santoro, are even pushing for President Milei’s impeachment, pointing to potential wrongdoing in the situation. News from Associated Press lawyers in Argentina have filed fraud charges against the president. They accuse him of promoting LIBRA, a token they say was involved in a “rug pull” scam. This is where developers pump up a crypto’s price, then bail out, leaving regular investors with nothing. Jonatan Baldiviezo, a lawyer and plaintiff, put it bluntly, “Within this illicit association, the crime of fraud was committed, in which the president’s actions were essential.” Related: Argentina President Milei Backpedals on LIBRA Meme Token After 89% Plunge in Value On February 14, 2025, Milei took to the social media platform X, and talked up LIBRA. He called it a private venture that would boost Argentina’s struggling economy, especially for small businesses. After his post, LIBRA’s value shot up, reaching a market cap of $4.56 billion. But the excitement didn’t last long. Within hours, the token crashed, losing over 90% of its value and wiping out more than $4 billion in market cap. Investigations later showed that the team behind LIBRA, specifically linked to KIP Protocol, withdrew over $107 million in liquidity shortly after the coin’s launch. However, the President’s Office said that Milei had no involvement in any part of the cryptocurrency’s development. “The President shared a post on his personal accounts announcing the launch of KIP Protocol’s project, as he does daily with many entrepreneurs who wish to launch projects in Argentina to create jobs and attract investments,” the statement said. Milei, who has been viewed as a libertarian leader and a staunch advocate for free-market capitalism, is now getting hammered for his role in this mess. His endorsement of the cryptocurrency and its collapse has sparked further concerns about the risks associated with unregulated digital assets. Related: Central African Republic’s CAR Memecoin Launch Marred by Deepfake Claims & Suspended Domain Critics argue incidents like this give regulators more reasons to step in. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

$AI is an evolving sector. Keep an eye on advancements in AI and blockchain to identify emerging opportunities before they gain mainstream attention. In a span of just 15 years, cryptocurrencies emerged from obscurity to become an important part of financial markets. But there's one thing the industry's evolution hasn't eradicated: extreme volatility. At its peak in November 2021, the crypto market was worth upwards of $2.9 trillion. By mid-2022, hit by rising inflation and an aggressive rate-hiking cycle by the Federal Reserve, the entire market was worth less than $900 billion. Fast forward to Jan. 21 of this year, and cryptocurrencies collectively were worth $3.6 trillion. Bitcoin ($BTC ) Cryptocurrency is an incredibly nascent asset class, with origins only dating back to 2009. Extreme volatility is par for the course, so investors looking to insulate themselves from the potential total collapse of their holdings will want to go with more established names. None is more established than Bitcoin, the first cryptocurrency and largest by market capitalization with a valuation of more than $2 trillion, or nearly 58% of the overall market. Ether ($ETH ) Second by market capitalization is Ether, which is the native token on the widely used Ethereum blockchain. Often colloquially referred to as Ethereum, ETH's market cap is around $400 billion and accounts for about 11% of the total cryptocurrency market. Unlike Bitcoin, Ether's underlying network is far more than just a tool for peer-to-peer payments; the Ethereum blockchain is custom-made for smart contracts and decentralized finance tools, as well as for so-called Web3 applications and the trading of non-fungible tokens, or NFTs. Solana ($SOL ) Like Ethereum, Solana is a blockchain that was built with utility in mind. In Solana's case, it's become known for facilitating the easy creation of decentralized applications, or dApps, but the network is actually even faster than Ethereum, has far lower fees and is intended to be more easily scalable than rivals. The native token of this blockchain is the eponymous Solana, also known as SOL. SOL didn't start trading until 2020, but it has had a meteoric rise to stardom in the years since. At the beginning of 2021, SOL accounted for just 0.01% of the crypto market's total value. Come Jan. 21, SOL makes up 3.27% of the multitrillion-dollar space, representing a more than 300-fold increase in its market share over the last four years. Avalanche ($AVAX ) When investing in cryptocurrency, investors should understand that it's Bitcoin and Ether in their own tier. Solana has arguably earned its spot as a second-tier coin due to the strong meme coin ecosystem, ease of use and low fees. AVAX and the other altcoins on this list, however, all have more risk, and investors should factor that into their decisions. Consider them purely speculative wagers. Avalanche's subnets feature allows users to deploy their own mini-blockchains on top of its network. Developer Ava Labs envisions a future in which most mainstream commercial entities and even many individuals will want their own blockchains, with Avalanche subnets offering a convenient solution to that problem. If that reality materializes, then AVAX, which plunged 90% in 2022's bear market, could emerge as a longer-term winner.  Though not up as much as some of the other coins on this list, AVAX is still in the green over the last year, with the token up 9.6% through Jan. 20. Avalanche currently has a market capitalization of $15 billion, making it the 10th-largest cryptocurrency by market cap, excluding stablecoins. Pepe ($PEPE ) If you're new to the world of cryptocurrency, there's something you need to know: Sometimes the coins that take off are just plain stupid. Pepe, a meme coin with no inherent value other than its name – a reference to an old internet meme of a frog – is just such an example. So, why include PEPE on the list of the best cryptocurrencies to buy? Well, as long as you're resigned to speculating (you are, if you're playing the crypto market), meme coins can provide enormous upside, and tend to have strong communities of loyal holders and intermittent periods of huge surges as they catch fire on social media. Pepe has the benefit of being a well-known, long-living internet meme, and has already cleared some difficult market cap thresholds: With a market cap of $6.6 billion, it's one of the top 25 most valuable cryptocurrencies in the world today, excluding stablecoins. Cardano ($ADA ) Founded in 2017 by Ethereum co-founder Charles Hoskinson, Cardano is a proof-of-stake blockchain and one of the largest blockchains to successfully run that more energy-efficient protocol. Cardano aims to foster a developer-friendly ecosystem for dApps. Unlike Ethereum, Cardano has a hard cap on the number of coins that can ever exist, topping out at 45 billion. Thankfully for investors, around 35 billion, or roughly 78%, of that supply has already been issued, meaning the amount of overall dilution remaining is both known and relatively limited.