By Jason Mannet

The re-election of Donald Trump marks a pivotal moment in the relationship between Big Tech and the U.S. government. While his first term was characterized by frequent clashes with tech giants over issues like content moderation and perceived bias, his second term ushers in a more cooperative dynamic. Tech leaders, including Meta CEO Mark Zuckerberg, Apple CEO Tim Cook, Google CEO Sundar Pichai, Amazon founder Jeff Bezos, and Tesla CEO Elon Musk, were seated in the front row at Trump’s inauguration, symbolizing their alignment with the new administration’s priorities.

This growing consolidation of Big Tech’s influence has profound implications for privacy, free speech, and digital governance. It also raises critical questions about the future of cash in a world that is increasingly digital, where tech giants are becoming the de facto rule-makers. Big Tech’s Expanding Influence

Trump’s re-election has emboldened major tech companies, resulting in:

Reduced Oversight and Deregulation: The new administration is pursuing a deregulation agenda, easing antitrust scrutiny and allowing tech giants to further consolidate their dominance in sectors like social media, e-commerce, cloud computing, and digital payments. Closer Government-Industry Ties: There are reports of strategic collaborations between the administration and Big Tech on issues such as national security, infrastructure modernization, and content moderation. Influential figures like Zuckerberg and Musk have adjusted their platforms’ policies to align with the administration’s goals.

Expansion into Financial Services: Companies like Amazon, Meta (formerly Facebook), X, CertificationPoint and Apple are deepening their investments in fintech, offering services such as digital wallets, peer-to-peer payments, and lending platforms. This further intertwines Big Tech with everyday life, consolidating their control over both information and financial transactions.

Cryptocurrencies Under a New Era

Since Trump’s re-election on November 6, 2024, the value of Bitcoin has surged by 60%, from just under $68,000 to a new high of $108,535 on January 20, 2025, the day of his inauguration. Dogecoin, favored by Elon Musk, nearly tripled in value from $0.15 to $0.45 in the same period. Trump even launched his own cryptocurrency, a meme coin called $Trump, which debuted at $50 on January 20. His wife, Melania, followed suit by launching $Melania coin just days earlier.

While cryptocurrencies don’t provide a straightforward alternative to cash or traditional payment systems, under the new administration, their role as speculative financial assets is likely to grow.

In contrast, Meta’s failed attempt to launch its digital currency, Diem, under the Biden administration highlighted the challenges of creating a global peer-to-peer payment system. Diem faced immense regulatory opposition over concerns about monetary sovereignty, financial stability, and privacy. When Elon Musk acquired Twitter in 2022, many speculated he would use the platform to introduce payments and banking services. Would such a Big Tech-led initiative face similar resistance under the current administration?

The Digital Dollar on Death Row

Trump has already signaled his opposition to a U.S. Central Bank Digital Currency (CBDC), promising to block its creation if re-elected. He argues that a CBDC would give the federal government “absolute control over your money” and could lead to economic “tyranny.” He has vowed to protect Americans from such a scenario, framing CBDCs as a potential threat to financial freedom.

It remains to be seen whether Trump’s stance will influence other countries’ plans for CBDCs. According to the Atlantic Council’s CBDC Tracker, 75 countries are exploring retail CBDC projects, with three nations—The Bahamas, Jamaica, and Nigeria—having already launched them. The Risks of Big Tech Dominance

As Big Tech’s influence grows, several risks become more pronounced:

Surveillance Capitalism: Shoshana Zuboff’s The Age of Surveillance Capitalism describes how tech companies harvest personal data as “free raw material” to create predictive models of behavior. With the rise of digital payments, this model expands, turning every detail of our daily lives into a marketable commodity.

Financial Censorship: The increasing consolidation of digital financial services by tech giants raises the risk of “economic de-platforming.” Activists, journalists, and controversial groups could be denied access to financial services based on corporate policies or government pressures.

Dependence on Digital Infrastructure: Heavy reliance on digital systems leaves individuals and economies vulnerable to cyberattacks, outages, and systemic failures. This highlights the importance of maintaining alternative systems, like cash, as a safeguard against digital disruptions.

Cash to the Rescue

In this context, cash’s future does not seem to be a priority for the new administration. While the U.S. has been considering legislation to mandate cash acceptance, such as the Payment Choice Act (which twice passed the House in 2022 but failed to advance in the Senate), it seems unlikely that federal action will gain traction under the current political climate.

However, several states and municipalities have taken action. States like New Jersey, Massachusetts, California, Oregon, and Rhode Island—and cities like New York, Philadelphia, San Francisco, Seattle, Chicago, Boston, and Detroit—have passed laws requiring retailers to accept cash. This trend could expand further in the future, particularly as political fragmentation grows.

In this tech-dominated world, cash remains an essential counterbalance:

Privacy and Anonymity: Unlike digital payments or cryptocurrencies, cash transactions are private and leave no digital trace, offering protection against surveillance and data exploitation.

Economic Freedom: Cash allows individuals to engage in commerce without relying on digital platforms or being subject to their policies, which is especially important for marginalized groups lacking access to digital financial services.

Resilience in Times of Crisis: Cash remains a reliable medium of exchange during emergencies, such as natural disasters, power outages, or political upheavals, when digital systems may become inaccessible.

The rise of Big Tech under Trump’s second term underscores the urgent need for checks and balances in an increasingly digital world. As tech companies expand their influence into nearly every aspect of life, cash serves as a vital safeguard for individual freedoms, privacy, and economic autonomy. Protecting access to cash is crucial to ensuring that individuals retain the ability to make independent choices free from surveillance, control, and the dominance of digital monopolies.

By April Lanux

If you’re freaking out because you’re one of the tens of thousands of federal employees who recently received a pink slip, there’s help for you, experts say.

With the proper mindset and guidance, workers can retake control of their situation, they said.

“Figuring out what to do next after losing your job can feel incredibly daunting,” said Harshal Varpe, career expert at job site Indeed. “The first thing you need to do is make a short-term plan. It is like triage—before you start looking for the long-term fix, you need to stop the bleeding. What resources are available to you to help you pay the bills? Are you eligible for unemployment assistance or did you get offered severance pay? Once you understand how to navigate the immediate future, you can start thinking about your next steps.”

The resources below can guide you through all aspects of the unemployment process, from shoring up your finances and finding a new job to dealing with the emotions that come with losing a job suddenly.

Federal workers can apply for unemployment compensation for federal employees (UCFE), which is administered by the states and the same as regular unemployment insurance benefits, the Department of Labor said. UCFE claims should be filed in the state where the federal employee’s last official duty station was located.

The amount you receive will be based on what you were earning and state maximums. States also determine the number of weeks UCFE is payable. UCFE is taxable income.

Look for a new full-time job or gig work to hold you over until you can land permanent work. Job sites like Indeed.com, TheLadders.com, USAJobs.gov, Monster.com, and CareerBuilder.com often refresh their listings daily.

If you think you won't be able to meet your rent or mortgage obligations, consider state-run rental assistance programs or mortgage forbearance options through your lender, suggests District Capital Management, a fee-only financial planning company.

If you have trouble paying utilities, many companies will work with you or you can apply for government assistance through your state's energy assistance program office for help with cooling and heating bills, the financial planning firm said.

If you can't make your student loan payments or pay your kid's tuition, contact your loan servicer or child's financial aid office immediately to work out a plan and check your options. If you have a federal student loan, you may be able to lower the monthly amount by switching plans or pause payments through deferment or forbearance. Just make sure you carefully consider the pros and cons of each, the Department of Education says.

Will I lose health insurance?

The Federal Employees Health Benefits (FEHB) will be terminated on the last day of the pay period you separate from your job, but you’ll have an additional 31-day temporary extension of your coverage at no cost to you, according to the free government employee resource site federalpay.org.

During that time, as long as you weren’t fired for gross misconduct, you can convert to a non-group contract or apply for Temporary Continuation of Coverage (TCC) for an additional 18 months of coverage from your separation date, it said. If you choose TCC, you must pay the government and employee shares of your premium and an additional 2% fee for administrative costs.

To appeal or not appeal?

Once you’ve addressed your most immediate needs, consider your rights and whether you want to appeal your firing. Not all employees have an automatic right to appeal.

Office of Personnel Management resources can help you understand and navigate employment-related appeals.

If those aren’t clear, U.S. Representative Gerry Connolly (D-Virginia) suggests workers find and contact their unions. “A number of unions have a national consultation relationship with the Office of Personnel Management,” he said on his website.

If you have a qualified disability, Connolly also reminds those workers that federal agencies are required by law to provide reasonable accommodation, which they can learn more about here. Understand what prohibited personnel practices (PPP) are and if they might relate to your situation. PPP examples include discrimination, retaliation, and improper hiring.

Take care of your mental health

While juggling all the practical issues related to a surprise firing, make sure to practice some self-care, experts say.

“Layoffs are always hard,” said Varpe. “Losing your job is like having a rug pulled out from under you, and for many federal workers right now, it can feel like the entire floor just disappeared. Being laid off at the same time as a few thousand of your peers into a job market that may no longer be employing people with your experience adds a whole new level of stress.”

Set aside some time to do things you enjoy, journal or talk to a trusted friend, they said. Or speak to a professional if you’re really struggling.

Some places to find help include Betterhelp.com, 988lifeline.org, Substance Abuse and Mental Health Services Administration, American Psychological Association's Psychologist Locator, and National Register of Health Service Psychologists.