On Tuesday, an unexpected announcement sent Dogecoin prices soaring, turning a popular meme-driven narrative into a real-life initiative.
President-elect Donald Trump revealed his selection of Vivek Ramaswamy and tech entrepreneur Elon Musk to head up a new Department of Government Efficiency (DOGE), aimed at optimizing government spending and reducing administrative waste.
Tasked with reimagining government processes from the outside, Musk and Ramaswamy are set to push for major reforms, applying an “entrepreneurial approach” to streamline the federal structure.
Trump, in his Truth Social announcement, praised the duo as the right figures to cut bureaucracy, simplify regulations, and reduce wasteful expenditures, framing their work as a key part of his “save America” mission.
The two leaders will be focused on this project through July 2026. Musk, in a post on X, emphasized the importance of transparency, pledging that DOGE’s actions will be publicly accessible. He even suggested a leaderboard to track “the most absurd tax dollar spending,” promising a mix of insight and entertainment for the public.
Geopolitical conflict rattles markets, but history shows panic selling crypto in response is usually the wrong move.
Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a bold prediction on silver, calling it the “best asymmetric buy” currently available.
Bitcoin-focused investment firm Strategy Inc. (formerly MicroStrategy) is facing mounting legal pressure as at least five law firms have filed class-action lawsuits over the company’s $6 billion in unrealized Bitcoin losses.
Fresh data on Personal Consumption Expenditures (PCE) — the Federal Reserve’s preferred inflation gauge — shows inflation ticked higher in May, potentially delaying the long-awaited Fed rate cut into September or later.