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.
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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