DOGE aims to “reduce overregulation and reduce wasteful spending,” President Trump said in a statement, saying the new agency should complete its work no later than July 4, 2026. Following the news, Dogecoin rose to $0.4121.
President-elect Donald Trump announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”
In a post on Truth Social, President Trump said Tesla CEO Musk and entrepreneur Ramaswamy would “dismantle government bureaucracy, cut excessive regulation, and cut wasteful spending.” , will reorganize federal agencies essential to the ‘Save America’ movement.”
According to President Trump, DOGE’s goals have been dreamed of by Republicans for a “very long time.”
The new agency aims to provide advice and guidance outside of the U.S. government and work with the White House and Office of Management and Budget to “eliminate massive waste and fraud” within the $6.5 trillion federal budget. It is.
According to a statement, President Trump said their work would be finished by July 4, 2026 at the latest.
In a post on X, Musk said all DOGE actions “will be posted online to ensure maximum transparency.”
To ensure maximum transparency, all activities of the Ministry of Government Efficiency are published online.
Whenever the public thinks we’re cutting back on what’s important or not cutting back on what’s useless, please let us know.
There will also be the stupidest leaderboard… https://t.co/1c0bAlxmY0
— Elon Musk (@elonmusk) November 13, 2024
Musk was a familiar face during Trump’s campaign, but has now become an influential figure within the Trump administration.
Since Trump’s campaign, Musk has played a “key role” in shaping Trump’s administration, even appearing in a photo of Trump’s family on election night, ABC News reported.
Mr. Musk has donated about $119 million to pro-Trump spending groups, according to federal spending records.
Following the news of the new DOGE agency, Dogecoin price rose to $0.4121, according to data from CoinMarketCap. Altcoins have risen nearly 95% in the past seven days as prices in the cryptocurrency market have increased following Trump’s election victory.
