Elon Musk and Ramaswamy to Lead the DOGE Efficiency Department

TL;DR

• Donald Trump has confirmed that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).

• DOGE is up nearly 8% in the last 24 hours and trades above $0.38.

Musk to Lead the Department of Government Efficiency

U.S. President-elect Donald Trump has confirmed that Tesla CEO Elon Musk and Strive Enterprises co-founder Vivek Ramaswamy will lead the Department of Government Efficiency ( DOGE).

In his announcement, Trump stated that,

“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 added that the new department will provide guidance to ensure large-scale structural reform from outside of the U.S. government. The department will also adopt an entrepreneurial approach, working alongside the White House and Office of Management and Budget.

Elon Musk, the world’s richest man, previously talked about creating the government body titled “DOGE.” He has been a long time admirer of Dogecoin and investors would be hoping that the creation of the DOGE department could push the coin’s price higher.

Vivek Ramaswamy previously competed against Trump for the Republican presidential nomination but later endorsed the president-elect.

DOGE, Dogecoin’s native coin, is 7% in the last 24 hours and trades just above the $0.38 mark.