Elon Musk, who had previously supported Trump’s re-election campaign, further solidified his backing by naming the department DOGE, after the popular cryptocurrency. As a supporter of Dogecoin, Musk chose this name because it aligns with the symbol of the coin. Following this move, the price of Dogecoin surged by 136%, reaching $0.406.

Following Trump’s announcement, Vivek Ramaswamy stated on the X platform, “We will not go gently in the transformation of the government.” Elon Musk also posted, “Not a threat to democracy, a threat to bureaucracy!”

Democratic Senator Elizabeth Warren criticized these appointments, finding it inefficient to have two people leading the department. She sarcastically remarked, “The Department of Government Efficiency entrusted to two people? This seems efficient!” Warren had recently won her Senate seat against John Deaton.

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Trump’s promises to eliminate bureaucratic obstacles and streamline government structures are drawing increased attention with these developments. Interest in Dogecoin and other cryptocurrencies continues to rise, and further market movements are expected.

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