“Together, these two great Americans will pave the way for my administration to dismantle red tape, cut redundant regulations, cut waste and restructure federal agencies,” Trump said.
In English, the new unit is called the Department of Government Efficiency. The abbreviation Doge coincides with the name of the cryptocurrency that both Trump and Musk promote, Dogecoin.
Not a ministry
Despite the name, it is not a public state agency, according to the AP news agency. According to a press release from Trump’s transition staff, Musk and Ramaswamy will work outside the public administration to provide advice and guidance to the White House. They will work with the Office of Management and Budget to drive large-scale structural reform and create an entrepreneurial approach to administration that has never been seen before, it says.
According to Trump, this will send shock waves through the public.
It is currently unclear how the organization will operate. It could fall under federal advisory committee laws, which regulate how outside groups that advise the government can operate.
Federal employees are generally required to disclose their assets and any conflicts of interest, as well as to dispose of significant investments related to their work. But because Musk and Ramaswamy will not be official federal employees, they will not be subject to these requirements or ethical restrictions.
The world’s richest
Vivek Ramaswamy is a businessman who, among other things, founded the biotechnology company Roivant Sciences. Earlier this year, he tried to become the Republican presidential candidate.
Elon Musk has founded companies such as Tesla, SpaceX and Neuralink. An estimated fortune of 308 billion dollars places him by a good margin at the top of Forbes ‘ list of the world’s richest.
Musk established his own election campaign organization – America PAC – to support Trump. Among other things, it has created a lottery where every day from October 19 until the election on November 5, 1 million dollars, or approximately NOK 11 million, was awarded to a Trump supporter. The person must also have signed a petition supporting freedom of speech and the right to bear arms. An attempt by a state attorney to stop the invention was rejected by a judge.
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**Interview with Crypto Expert, Dr. Emily Carter**
**Interviewer:** Thank you for joining us today, Dr. Carter. Recent headlines indicate that Dogecoin has outpaced Bitcoin amid speculation fueled by Trump and Musk. What are your thoughts on this phenomenon?
**Dr. Carter:** Thank you for having me. It’s interesting to see how political figures can influence cryptocurrency market dynamics. Dogecoin, initially a meme-based currency, has garnered significant attention, especially with endorsements from high-profile individuals like Elon Musk.
**Interviewer:** Indeed, and now with Trump’s recent remarks about the “Department of Government Efficiency,” which shares the acronym “Doge,” how do you think this will affect Dogecoin’s popularity?
**Dr. Carter:** The coincidence of the name can certainly generate buzz. It reinforces the connection between political events and cryptocurrency speculation. People often look for social and cultural cues when diving into investment, and this could spur interest in Dogecoin even further.
**Interviewer:** But we should clarify that this Department isn’t an official agency, correct? How does this affect the perception of the cryptocurrency?
**Dr. Carter:** Yes, you’re right. The fact that it’s not an official state agency might dampen some expectations, but the association with influential figures still enhances visibility. Investors and enthusiasts often thrive on speculation, and this kind of news can create FOMO—fear of missing out—across the market.
**Interviewer:** With Dogecoin’s rise, do you think we’ll see more cryptocurrencies aligned with specific political agendas or individuals in the future?
**Dr. Carter:** It’s very possible. As we’ve seen with cryptocurrencies like Dogecoin, political endorsements can bring waves of speculation and new investors. If this trend continues, we may see more coins being created or marketed with specific political themes or figures in mind.
**Interviewer:** Fascinating insights, Dr. Carter. Thank you for your expertise on the intersection of cryptocurrency and politics.
**Dr. Carter:** My pleasure! Always happy to discuss these evolving dynamics in the crypto space.
