Trump Taps Elon Musk to Lead New ‘D.O.GE’ Government Efficiency Department

Trump Creates New Agency with Crypto-Friendly Name

  • Trump appointed Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency (D.O.GE)
  • The agency aims to reduce government bureaucracy and cut wasteful spending from the $6.5 trillion federal budget
  • Musk announced all agency actions will be publicly posted online for transparency
  • Dogecoin (DOGE) rose 6% before the announcement but later settled at $0.38
  • Other DOGE-themed tokens saw significant gains, with one rising 78.6% to $0.37

Former President-elect Donald Trump has appointed Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy to head the Department of Government Efficiency (D.O.GE).

- Advertisement -

The announcement came through Trump’s statement on X, positioning the move as central to his “Save America” movement.

Mission and Objectives

The D.O.GE’s primary mission focuses on streamlining government operations and reducing unnecessary expenditure within the federal budget.

The agency will target the elimination of excess regulations and reorganization of federal agencies.

Musk announced on X that the agency would maintain complete transparency by posting all actions online.

“Anytime the public thinks we are cutting something important or not cutting something wasteful, just let US know,” Musk stated on the platform.

Timeline and Goals

The agency has a specified completion date of July 4, 2026, aligned with the 250th anniversary of the Declaration of Independence.

- Advertisement -

This timeline suggests a focused approach to implementing structural changes in government operations.

Market Impact on Cryptocurrency

The announcement created ripples in the cryptocurrency market, particularly affecting Dogecoin (DOGE).

DOGE experienced a 6% increase ahead of the announcement, reaching $0.43 before settling at $0.38.

- Advertisement -

The cryptocurrency maintains a 10% increase over 24 hours and a 112% gain over the week, according to CoinGecko data.

Broader Market Effects

The announcement’s impact extended beyond the primary Dogecoin token.

A separate DOGE token recorded a 78.6% increase, reaching $0.37.

This secondary token had already experienced substantial growth, with a 291% increase in the previous week.

The market response reflects the growing intersection between government policy decisions and cryptocurrency valuations.

Previous Articles:

- Advertisement -

Latest

American Engineer Drugged, Robbed in Sophisticated London Crypto Heist

An American software engineer lost approximately $123,000 in cryptocurrency after being drugged and robbed in London.The victim was targeted by an impersonator posing as...

Max Keiser Doubts New Bitcoin Treasuries’ Discipline in Bear Market

Bitcoin-focused companies are increasingly copying the treasury strategy used by Michael Saylor's Strategy.Max Keiser raised doubts about whether these newer companies can maintain commitment...

South Korea Election Puts Crypto Policy at Center of Debate

Nearly one-third of South Koreans hold digital assets, making crypto a vital issue in the upcoming presidential election.Both major parties support crypto exchange-traded funds...

Scottsdale Residents Lose $6M to Crypto Scams; Police Respond

Scottsdale residents have reported losing over $6 million to cryptocurrency Scams in 2024.Authorities say actual losses could be higher, as not all cases are...

Ethereum Bullish Patterns Signal Altseason, 55% Rally Possible

Ethereum is showing two bullish chart patterns against Bitcoin, indicating a possible 30–55% price increase. Crypto analysts say an ETH/BTC rally could spark a broad...

Must Read

Ethereum Hosting: TOP 10 Companies to Buy Hosting With Ethereum

If you are looking for Ethereum Hosting, you've hit the jackpot. In this article, we will present the 10 Best companies to buy hosting...