On March 30, during a town hall meeting hosted by its America PAC in Green Bay, Wisconsin, Elon Musk clearly distinguished the Federal Government Efficiency Department (D.O.G.E.) from Dogecoin. He stated:
“To my knowledge, the government has no plans to use Dogecoin or anything similar. The similarity in names is purely coincidental; our goal is simply to improve government efficiency by 15%.”
Musk explained that the name of the department originated from a suggestion on the internet. He initially intended to call it the Government Efficiency Commission but found it too dull. Later, a netizen suggested the name Government Efficiency Department, which he decided to adopt.
The D.O.G.E. is set to be proposed for the first time in August 2024 and is a core initiative of U.S. President Donald Trump to downsize the federal government, aiming to cut spending, reduce regulatory overlap, and reorganize federal agencies. Since its official launch, the department has undergone massive layoffs and cut funding for climate change, scientific research, and diversity, equity, and inclusion-related projects.
Affected agencies include the United States Agency for International Development (USAID), the Consumer Financial Protection Bureau (CFPB), and the Social Security Administration (SSA). Currently, the D.O.G.E. is facing multiple lawsuits attempting to restrict its powers. Additionally, Musk’s specific role remains controversial. The White House claims he is merely a senior advisor without policy-making authority, while Trump has publicly referred to him as the leader of the department. Musk stated that he has not received any compensation from this position.
Despite Musk distancing D.O.G.E. from Dogecoin, the official D.O.G.E. website briefly displayed the Dogecoin Shiba Inu mascot in February of this year, prompting speculation about its connection to the cryptocurrency, which once drove Dogecoin’s price up by 14%, reaching a market value of $58 billion.
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