Government Efficiency (DOGE) aides can break federal securities laws by holding large sums of Bitcoin (BTC) and Tesla stocks working to dismantle the Consumer Financial Protection Bureau (CFPB).
As Propublica reported, 25-year-old Gavin Kliger is the top official of CFPB and helped fire more than 1,400 employees at the agency. This year, he publicly revealed that he owns assets worth up to $365,000 to Tesla, Apple, BTC and Solana (SOL).
However, both Tesla and Apple are on the CFPB ban holdings list, while BTC and Sol Holdings are prohibited under institutional guidance on crypto companies’ investments. Kilger owns up to $15,000 worth of SOL, up to $50,000 worth of BTC and Apple stocks, and up to $250,000 worth of Tesla stocks.
According to Propublica, ethics experts argue that Kliger’s holdings represent a conflict of interest and could violate federal ethics laws.
One such expert at St. Louis Washington University told Propovica that Krigger “destroying the CFPB is likely to have a direct and predictable effect on his financial stocks.”
Read more: What did Trump do for Crypto in his first 100 days?
One employee on the layoff team claimed that Kliger is responsible for firing 90% of CFPB staff this month. Another CFPB employee spoke anonymously and accused him of “screaming to people who didn’t believe he was working fast enough,” Keep employees for 36 hours Perform a layoff.
However, after months of court proceedings brought against the CFPB by union members, it retreated and cancelled the firing of 1,400 employees.
In response to Propublica, the White House stated that Kliger did not manage the layoffs and that this “story” was “a complete lie.” “These allegations are another attempt to reduce Doge’s important mission,” it said.
When asked about his role at the CFPB, the spokesman said: