Tanahub.com — U.S. President-elect Donald Trump has announced the creation of a new agency called the Department of Government Efficiency (D.O.G.E). This department, aimed at reducing bureaucracy and streamlining federal agencies, will be led by two prominent figures: Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy.
In his statement, Trump described D.O.G.E as an initiative to bring an entrepreneurial approach to structural reforms in the U.S. government. He expressed confidence in Elon and Vivek’s ability to lead efforts in cutting excessive regulations, eliminating unnecessary spending, and dismantling cumbersome government bureaucracy.
Department of Government Efficiency
The merch will be 🔥🔥🔥
— Elon Musk (@elonmusk) November 13, 2024
“Together, these two extraordinary Americans will pave the way for my administration to dismantle government bureaucracy, reduce excessive regulations, cut wasteful spending, and restructure federal agencies,” Trump wrote in his announcement.
Trump stated that D.O.G.E will operate independently of the government while working closely with the White House and the Office of Management and Budget to support his reform agenda. This approach, according to Trump, is unprecedented in scale and aims to enhance government efficiency through a more inclusive and innovative framework.
D.O.G.E originated as an idea proposed by Elon during a campaign rally supporting Trump a few months ago. At the time, he suggested that the U.S. establish such an agency with the acronym “DOGE.”
In addition to being a Trump supporter, Elon is well-known as a key figure behind the popularity of Dogecoin, which coincidentally shares its acronym with the new agency. This sequence of events appears far from coincidental, as the Twitter CEO is also famously regarded as the “father” of Dogecoin.
Interestingly, news of D.O.G.E’s creation did not positively impact Dogecoin’s price. According to analytics firm Coingecko, DOGE’s value actually dropped by 11% over the past 24 hours. Instead, the token benefitting from this announcement is a project called Department Of Government Efficiency (D.O.G.E) on the Ethereum mainnet, which surged by 100% in the same time frame.
Source: Volubit.id