- Trump appoints Elon Musk and Vivek Ramaswamy to lead new DOGE authoritywhich aims to reduce excessive regulations and reduce government spending.
- The DOGE announcement causes the Dogecoin price to riseas the abbreviation DOGE is also associated with the cryptocurrency Dogecoin, which Musk supports.
- Trump emphasizes transparency and efficiency as core goals of the initiative, and Musk promises that all DOGE measures will be made publicly available.
Trump launches DOGE with Musk and Ramaswamy for a leaner government
Newly elected US President Donald Trump has announced that Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy will lead the newly created Department of Government Efficiency (DOGE). This agency’s goal is to cut government bureaucracy, reduce excessive regulations, and eliminate unnecessary spending.
In a statement on Truth Social, Trump stated that DOGE’s work should be completed no later than July 4, 2026, the 250th anniversary of the US Declaration of Independence. He called this initiative a “perfect gift to America.”
Elon Musk, known for his efficiency in the private sector through companies like Tesla and SpaceX, will lead the agency alongside Vivek Ramaswamy, a former Republican presidential candidate. Ramaswamy is known for his “anti-woke” stance and recently acquired a stake in BuzzFeed to influence the company’s strategy.
DOGE announcement boosts Dogecoin price
The announcement of DOGE led to a surge in Dogecoinrate to $0.4121. This is attributed to the abbreviation DOGE, which corresponds to the cryptocurrency Dogecoin, which Musk frequently supports.
Musk emphasized that all DOGE actions will be published online to ensure maximum transparency. He played a significant role in Trump’s campaign and was seen in a Trump family photo on election night. Musk reportedly donated about $119 million to a pro-Trump support group.
The creation of DOGE is in line with Trump’s promise to streamline government and increase efficiency. The collaboration with Musk and Ramaswamy underscores Trump’s commitment to integrating innovative approaches into governance.
It remains to be seen how this initiative will impact U.S. governance and public finances. But the appointments of Musk and Ramaswamy signal an unconventional approach to tackling long-standing administrative challenges.