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.
U.S. cryptocurrency companies have played a major role in President Donald Trump’s 2024 re-election campaign, contributing over $144 million.
Recent reports suggest that China and several Middle Eastern nations are contemplating Bitcoin acquisition strategies, signaling a growing interest in the cryptocurrency as a strategic asset.
Timothy Peterson, a prominent analyst, has warned that the cryptocurrency market might soon face a downturn.
Charles Hoskinson, the founder of Cardano (ADA), addressed the controversy surrounding his absence from the White House Crypto Summit.