One picture shows you Musk and the "Department of Gover...

One picture shows you Musk and the "Department of Government Efficiency DOGE"

Introduced by Elon Musk in 2023, this DOGE is a private-sector initiative (not an official government agency) aimed at proposing ways to improve government efficiency. It’s a conceptual effort to reduce waste and apply tech-driven solutions to bureaucracy.

Elon Musk: The leader of Tesla, SpaceX, and Dogecoin's top supporter, known for his bold innovation, will lead the plan without taking a salary.

Vivek Ramaswamy: This entrepreneur, a former Republican presidential candidate who supported Trump after dropping out, is a key figure in promoting DOGE due to his business background and advocacy for "small government."

Cut the majority of federal employees (with a target of up to 75%).

Restructure or reduce certain government agencies, such as the Department of Education, the FBI, etc.

Streamline regulatory processes and reduce federal budget waste.

DOGE is named in tribute to Dogecoin, a meme-based cryptocurrency that gained attention through Elon Musk's endorsements. Its market value surged to a three-year high following Musk's support of Trump and the official launch of the DOGE project.

Uncertain Practical Impact: It remains to be seen whether the reform proposals put forward by DOGE can be adopted without direct budget authority.

Battle with Congress: The scope of DOGE's reforms may face resistance from Congress, especially regarding proposals related to layoffs and agency restructuring.

Sustained Impact on the Crypto Economy: The price volatility of meme assets like Dogecoin could be further influenced by the success or failure of DOGE.