Key Takeaways
Elon Musk confirms that the US government has no plans to use Dogecoin.
The Department of Government Efficiency aims to improve operational efficiency by 15%.
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Elon Musk clarified today that the US government has no plans to use Dogecoin, addressing speculation that links the popular crypto asset—which he has long endorsed—to the Department of Government Efficiency (DOGE) project he is currently leading.
“There are no plans for the government to use Dogecoin or anything, as far as I know,” Musk said, speaking at an America PAC town hall in Green Bay, Wisconsin, on Sunday.
Musk revealed he initially planned to name the initiative the “Government Efficiency Commission” but changed it to “Department of Government Efficiency” following public input.
“I was going to call it the Government Efficiency Commission, but that’s a super boring name,” he said.
The project aims to improve government operational efficiency by 15%, according to Musk. “Really, it’s just we’re just literally trying to make the government 15% more efficient,” he stated.
The government efficiency initiative was established by President Trump to cut federal spending and streamline operations. While Musk’s involvement has sparked speculation about crypto-related initiatives, DOGE’s primary focus is on government efficiency, not crypto adoption.
The confusion arises from the playful naming of the department, which coincides with Musk’s well-known association with Dogecoin as a meme crypto.
Tesla’s CEO has consistently expressed enthusiasm for Dogecoin through his tweets and public statements. He previously defended Dogecoin’s inflationary model, calling it “a feature” that supports its usability for everyday transactions.
Musk to step down after leading $1 trillion government spending cut
Musk said in a recent interview with Fox News that he will step down from his role in the Trump administration after achieving a $1 trillion reduction in the US federal deficit.
The tech mogul is confident that most of the work required for this cost-cutting goal could be completed within 130 days. He estimated that his tenure could end at the end of May.
DOGE, a small team of engineers and entrepreneurs, has aggressively cut government spending since their establishment, laying off thousands of federal employees and eliminating what they call waste, fraud, and inefficiency.
One key target was federal credit card usage, where DOGE found that the government issued 4.6 million cards despite having only 2.3 to 2.4 million employees. Musk called this oversight “absurd” and pushed for immediate reductions.
The tech billionaire described his efforts as one of the most significant overhauls of federal spending in American history. “This is a revolution,” he said, noting that his reforms would leave America in a much stronger financial position.
While some praise Musk’s efficiency-driven approach, critics argue that DOGE operates with too much power and lacks proper oversight.
Opponents claim that federal contracts and programs have been cut without congressional approval. In response, Musk defended his team’s actions, stating that all decisions were carefully considered and adjusted when necessary.
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