U.S. President-elect Donald Trump announced that he has chosen Tesla CEO Elon Musk and Strive Enterprises co-founder Vivek Ramaswamy to lead the Department of Government Efficiency (DOGE).
“Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” Trump wrote in his announcement.
The president-elect added that the upcoming department will provide guidance to drive large-scale structural reform from outside of the U.S. government, and take an unprecedented “entrepreneurial approach” as it works together with the White House and Office of Management and Budget.
Previously, Musk discussed creating the government body titled “DOGE,” as he spent tens of millions of dollars to help former President Trump’s re-election in November, appearing at Trump’s campaign rallies.
Since Trump’s victory, Musk has been offering input on staffing decisions and stepped up to have a “significant role” in the upcoming administration, ABC News reported Tuesday.
Musk is also a long-time supporter of memecoin Dogecoin, which has a ticker same as the acronym of the upcoming department.
Meanwhile, the price of Dogecoin rose 12.2% in the past 24 hours to $0.406, surging 136% in the past week, according to The Block's price page. Its market capitalization currently sits at $60 billion.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
