DOGE Department: Musk’s next mission under Trump
Musk and Ramaswamy set to overhaul government efficiency, targeting bureaucracy and excessive regulations
While Elon Musk has actively posted about Dogecoin on X, few could have anticipated a government office inspired by the memecoin—or that the prominent CEO would be named as a leader in its early formation.
In a recent announcement, Donald Trump named Musk and Vivek Ramaswamy, CEO and founder of Roivant Sciences, as prospective heads of the planned Department of Government Efficiency (DOGE).
Musk, who has been vocal about his support for Trump, recently urged his followers on X to “put a Trump/Vance sign on your lawn and wear MAGA merch!” With MAGA also being the name of a Trump-inspired memecoin.
People need to know that they’re not alone.
— Elon Musk (@elonmusk) October 19, 2024
Put a Trump/Vance sign on your lawn and wear MAGA merch! https://t.co/RLnPXANcIm
On X, Musk shared the official announcement document, which includes Trump’s praise of “the Great Elon Musk” and “American Patriot Vivek Ramaswamy.” Trump stated that under their leadership, the department would aim to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.”
Trump’s new administration, set to take office in January, intends for DOGE to serve as a centerpiece of its efficiency agenda.
— Elon Musk (@elonmusk) November 13, 2024
At a recent rally in Madison Square Garden, Musk underscored this mission, saying, “Your money is being wasted, and the Department of Government Efficiency’s gonna fix that. We’re gonna get the government off your back and out of your pocketbook.”
Streamlining bureaucracy and regulations
The DOGE department, once established, would grant Musk influence over regulatory decisions, potentially affecting the crypto landscape and even his own companies, some of which are currently under federal investigation.
While details of DOGE’s future operations remain unclear, it’s possible the department could fall under the Federal Advisory Committee Act, which outlines protocols for government advisors.
NBC Washington reports that DOGE’s design might allow Musk and Ramaswamy to operate without Senate approval, providing them with the flexibility to work both within government and the private sector.
Responding to the appointment, Musk commented through Trump’s transition team that “this will send shockwaves through the system, and anyone involved in government waste, which is a lot of people.”
Musk’s past restructuring of Twitter, where he reduced the workforce by 80%, hints that DOGE could employ a similarly stringent approach. When Musk took over Twitter, departments like diversity, inclusion, design, product development, and content moderation faced deep cuts—a possible preview of DOGE’s efficiency-first agenda.
How is the community reacting?
Reactions in the crypto community have been mixed. Even before DOGE’s announcement, some users had migrated from X to Bluesky, attributing their departure to Musk’s public support for Trump. Steven Kelly, associate director for research at Yale’s Program on Financial Stability, remarked on Bluesky that DOGE seems off to a questionable start by “hiring two employees to do one job.”
The "Department of Government Efficiency" not off to a a great start, hiring two employees to do one job
— Steven Kelly (@stevenkelly49.bsky.social) November 13, 2024 at 5:27 AM
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Meanwhile, the crypto market responded as well, with the price of Dogecoin rising amid the news. An anonymous X user speculated that the new office might be a “crypto pump and dump scheme,” alleging that “they want to pump DOGE coin up to $10, which is why gold is tanking and stocks are dropping.”
And yes, the new Department of Government Efficiency (DOGE) is a crypto pump and dump scheme. They want to pump DOGE coin up to $10, which is why gold is tanking and stocks are dropping. They're getting rich while you suffer.
— Anonymous (@YourAnonNews) November 13, 2024
Others are more optimistic. Market intelligence firm Messari noted that “Elon’s new role in the Department of Government Efficiency has sparked renewed interest, boosting both DOGE and the broader meme market.” However, the Department of Government Efficiency Community has clarified on X that the DOGE memecoin, launched in August, is not affiliated with the planned office.
DOGE's price has more than doubled since the election, reaching $0.41.
— Messari (@MessariCrypto) November 13, 2024
Elon's new role in the Department of Government Efficiency has sparked renewed interest, boosting both DOGE and the broader meme market.
Explore what this could mean for the "Memecoin Middle Class" as we… https://t.co/anftWF137c pic.twitter.com/7eH2Dh5fE3
As DOGE’s establishment awaits Trump’s inauguration in January, Musk and Ramaswamy’s involvement has stirred speculation about a more crypto-friendly regulatory landscape. However, the long-term impact of this planned department on both government and the crypto community remains to be seen.
