Dogecoin had been climbing alongside other cryptocurrencies, but it gained an extra 5% earlier today following President-elect Donald Trump’s formal announcement of the creation of the Department of Government Efficiency, a.k.a. “D.O.G.E,” in a bid to foster “more efficiency and less bureaucracy” and ultimately “drive The American Dream.”
This has fueled further enthusiasm and added to the OG meme coin’s post-election rally, which is currently trading above $0.376.
“The Manhattan Project” of Government Reform?
Trump appointed Tesla chief Elon Musk to lead the newly-created Department of Government Efficiency (D.O.G.E.) alongside American entrepreneur Vivek Ramaswamy. This new department will focus on eliminating bureaucratic inefficiency, reducing government spending, and cutting excess regulations. Trump emphasized that the D.O.G.E. initiative aligns with his “Save America” movement and aims to bring transformative change to the federal bureaucracy.
He called it potentially “The Manhattan Project” of the current era, with the focus on a leaner, more productive government. Collaborating with the White House and the Office of Management & Budget, D.O.G.E intends to establish a new era of entrepreneurial governance.
“I look forward to Elon and Vivek making changes to the Federal Bureaucracy with an eye on efficiency, and at the same time, making life better for all Americans. Importantly, we will drive out the massive waste and fraud which exists throughout our annual $6.5 Trillion Dollars of Government Spending. They will work together to increase our Economy, and at the same time, shrink what has not worked – the FEDERAL PEOPLE.”
D.O.G.E will officially start operating on July 4, 2025, the 250th anniversary of the Declaration of Independence.
“Tragic and Entertaining”
Chiming in on the development, Musk revealed that the priority will be on transparency and will therefore include publicly posting all of its actions online. He also encouraged public input, inviting citizens to voice concerns if they believe critical programs are at risk or if wasteful spending persists unchecked.
Adding a unique twist, Musk revealed plans for a “leaderboard” highlighting the most absurd examples of government spending, a feature he described as both “tragic” and “entertaining.”
The post Trump’s D.O.G.E. Promises to Slash Bureaucracy: Here’s What You Need to Know appeared first on CryptoPotato.