Yigit Taha OZTURK 
U.S. President Donald Trump has established the Department of Government Efficiency (DOGE) to cut federal spending and streamline regulations. Billionaire Elon Musk and Vivek Ramaswamy have been appointed to lead this agency, coincidentally sharing its acronym with the popular cryptocurrency Dogecoin (DOGE).
DOGE and Economic Freedom Potential
Coinbase CEO Brian Armstrong believes the newly established DOGE could boost the country’s economic freedom. He proposed constitutional amendments to cap government expenditures, suggesting a limit of 10% of GDP. Armstrong also introduced the idea of a sovereign wealth fund that distributes budget surpluses as dividends to all U.S. citizens, aligning governmental incentives with long-term fiscal discipline.
Might interest you: Who Could Replace Gary Gensler as SEC Chairman?
He stated, “DOGE could realign federal spending and enhance economic liberty.” Such reforms could pave the way for a more efficient financial structure in the U.S.
Dogecoin Price Spike
After the agency’s announcement, Dogecoin (DOGE) surged to a yearly high of $0.44 before a minor correction. While the agency isn’t connected to the cryptocurrency, its shared name triggered excitement in the crypto community.
This isn’t the first time Musk has been linked to DOGE price volatility. Although he faced accusations of market manipulation in 2022, he recently emerged victorious in court.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.