The logo of the top memecoin Dogecoin (DOGE) is now the face of an official US government website.
The official website of the Department of Government Efficiency (D.O.G.E.), a newly created department aimed at reducing unnecessary public costs, boasts the face of Kabuso, the deceased Shiba Inu who inspired Dogecoin.
[adinserter block="1"]The D.O.G.E. will reportedly be headed by tech billionaire and Trump supporter Elon Musk, who has also been one of Dogecoin’s biggest backers.
The department was originally co-chaired by Musk and Vivek Ramaswamy but Musk reportedly ousted Ramaswamy from the agency.
Dogecoin has seen very little price movement off the news. DOGE is worth $0.38 at time of writing and is up 3.3% in the last 24 hours.
Many crypto advocates have shown support for the proposed department. Coinbase CEO Brian Armstrong recently called the new department a “once in a lifetime opportunity” to “cut the size of government back to health.”
Said Armstrong,
“To future-proof this, we may need a constitutional amendment capping total government expenditure (at say 10%), or a way to align incentives…
You’d ideally have a way to temporarily dial up burn (say in wartime), but still have the right incentives to not let spending get totally out of control longer term.
An example would be a US sovereign wealth fund, where every citizen gets a share (maybe people can buy more if they want), and any budget surplus pays a dividend.
Every citizen then has skin in the game. Maybe Congress gets a slightly larger stake.”
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