The logo of top memecoin Dogecoin (DOGE) is now the face of an official US government website.
The official website of the Department of Government Efficiency (DOGE), a newly created department aimed at reducing unnecessary public costs, shows off the face of Kabuso, the late Shiba Inu who inspired Dogecoin.
The DOGE will reportedly be led 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 removed Ramaswamy from the agency.
Dogecoin has seen very little price movement outside of the news. DOGE is worth $0.38 at the time of writing and is up 3.3% in the last 24 hours.
Many crypto proponents have expressed support for the proposed department. Coinbase CEO Brian Armstrong recently called the new department a “once in a lifetime opportunity” to “restore the size of government to health.”
said Armstrong,
“To make this future-proof, we may need a constitutional amendment that limits overall government spending (e.g. 10%), or some way to align incentives…
Ideally, you would have a way to temporarily increase combustion (e.g. in wartime), but still have the right incentives to keep spending from spiraling completely out of control in the longer term.
An example would be a US sovereign wealth fund, where every citizen gets a share (perhaps people can buy more if they want), and any budget surplus pays a dividend.
Every citizen then has a role in the game. Maybe Congress will take on a little more importance.”
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Generated image: Midjourney