According to U.S. officials on Monday, billionaire Elon Musk will become the sole leader of the Department of Government Efficiency (D.O.G.E) after co-founder Vivek Ramaswamy announced his resignation to focus on his campaign for governor of Ohio.
D.O.G.E was established in November 2024 by Musk and Ramaswamy as part of President Donald Trump’s “Save America” initiative. The organization is tasked with reducing waste, streamlining regulations, and overhauling the federal bureaucracy.
Ramaswamy played a crucial role in building D.O.G.E, but his decision to run for governor required him to step down in compliance with newly enacted regulations, according to spokesperson Anna Kelly in a statement to the Associated Press.
The abbreviation “D.O.G.E” has drawn significant attention due to its association with Dogecoin (DOGE), the meme cryptocurrency ardently supported by Musk, known as the “Dogefather.” The price of DOGE surged last year after Musk was announced as the leader of D.O.G.E.
Initially, D.O.G.E aimed to cut $2 trillion in government spending. However, Musk recently revised this target to $1 trillion, acknowledging that the original goal was overly ambitious.
To support this initiative, President Trump signed an executive order temporarily halting federal civilian hiring. The Office of Management and Budget has been tasked with developing a plan to streamline the federal workforce through efficiency measures.
Unlike traditional federal agencies, D.O.G.E operates independently of the government, relying on private-sector expertise and support from Republican lawmakers. The organization has attracted attention for its connections to the tech elite, with advisors such as Palantir co-founder Joe Lonsdale and investor Marc Andreessen.
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The blend of policy and meme culture is evident in campaign merchandise featuring Musk, Trump, and the Shiba Inu mascot of Dogecoin. These items have become a quirky highlight of the initiative, sparking both intrigue and debate within the cryptocurrency community.
