Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Binance Announced New Measures to Address Major Manipulations in the Altcoin Market

31/03/2026

UAE breaks to the top in terms of tokenized real estate global rankings

31/03/2026

Bitget Wallet expands stablecoin payments with Visa, Mastercard, and Ripple integration

31/03/2026
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Ethereum Price Faces Downside Risk, Bears Prepare for Fresh Move

    30/03/2026

    Will Ethereum Price Crash Below $2,000 Again Amid Whale Sell-Offs

    30/03/2026

    Targets $2,500 as Recovery Gains Strength

    29/03/2026

    Ethereum price drops below $2,200, but a bullish reversal is brewing

    29/03/2026

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Courtyard Dominate Top 10 Weekly NFT Performers by Sales Volume

    31/03/2026

    ZNS Connect Unveils New NFT Collection for Free on Soneium

    29/03/2026

    Pudgy Penguins and Floki Lead NFT Social Activity as Engagement Hits New 2026 Heights

    26/03/2026

    NFT buyers surge 100% weekly, Ethereum dominates sales volume

    25/03/2026

    Binance Announced New Measures to Address Major Manipulations in the Altcoin Market

    31/03/2026

    UAE breaks to the top in terms of tokenized real estate global rankings

    31/03/2026

    Bitget Wallet expands stablecoin payments with Visa, Mastercard, and Ripple integration

    31/03/2026

    EY warns firms they must own the wallet to keep their customers

    31/03/2026
  • Blockchain

    Google launches Gemini 3.1 Flash Lite as fastest and cheapest Gemini 3 model

    31/03/2026

    Onyx Launches Goliath Mainnet With 100K TPS

    30/03/2026

    DePINed Joins Kaizen Finance to Drive Launch of No-Code Tokens

    30/03/2026

    Last Chance Migrate BEP2 Tokens Before Beacon Chain Sunset!

    30/03/2026

    Ethereum and BNB Chain Dominate

    30/03/2026
  • DeFi

    Aave rolls out v4 on Ethereum, aiming to expand DeFi into real-world credit markets

    31/03/2026

    MixMax and GamePad.co Join Forces to Tackle DeFi Scalability and Performance Challenges

    31/03/2026

    Inside Aave’s governance battle as DeFi giant prepares for upgrade

    30/03/2026

    Nova.AI Joins Forces With Spores Network To Advance DeFi User Experience Through AI and Web3 Integration

    30/03/2026

    Crypto’s CLARITY Act could be a headwind for DeFi tokens ring-fencing yield, analyst says

    30/03/2026
  • Metaverse

    Mark Zuckerberg’s Meta launches new AI initiative after metaverse retreat

    25/03/2026

    Meta partners with Arm to develop new CPUs for AI deployments

    24/03/2026

    Land values capitulate as $24M metaverse plot collapses to just $9,000

    20/03/2026

    Meta to shutter Horizon Worlds metaverse on VR in favor of mobile

    18/03/2026

    Meta expands AI agent push with Moltbook acquisition

    10/03/2026
  • Regulation

    UAE breaks to the top in terms of tokenized real estate global rankings

    31/03/2026

    EY warns firms they must own the wallet to keep their customers

    31/03/2026

    ‘Be Greedy When Others Are Fearful,’ Metaplanet CEO Quotes Buffett as Crypto Fear Goes Extreme

    31/03/2026

    RWA Perpetuals Surge in 2026 as Gold and Silver Hit Record Volatility

    31/03/2026

    Japan’s Crypto Industry Faces Critical Test Ahead of Snap Election

    31/03/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Binance Announced New Measures to Address Major Manipulations in the Altcoin Market

    31/03/2026

    Bitget Wallet expands stablecoin payments with Visa, Mastercard, and Ripple integration

    31/03/2026

    Is Pengu card the next step for Pudgy Penguins’ real-world utility?

    31/03/2026

    Binance Vietnam expands presence with new general manager role amid crypto pilot program

    31/03/2026

    South Korea Poised to Lift Ban on Domestic ICOs After 7 Years

    19/12/2025

    Why 2025’s Token Boom Looks Both Familiar and Dangerous

    31/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    World of Elements v1.12 introduces skill trees, Hubitz location

    30/03/2026

    PlaysOut Taps CacheWallet to Drive Secure Web3 Gaming Framework

    26/03/2026

    Zach Lowe: Celtics’ offense struggles since Tatum’s return, Luka Doncic’s historic scoring season, and LeBron’s pivotal role in Lakers’ surprise playoff success

    23/03/2026

    Controversial Statements from the Solana Foundation President: “These Altcoins Are Dead”

    20/03/2026

    Bitcoin hashrate posts first-quarter drop for first time in 6 years as miners pivot to AI

    31/03/2026

    Will the bitcoin hashrate stall as miners pivot to AI and reshape decentralization?

    31/03/2026

    Bitdeer Targets 180 MW Tydal Facility by 2026

    31/03/2026

    Bitcoin Mining Companies Are Shifting to the AI Sector Every Day

    29/03/2026

    Kalshi gets temporary Nevada ban in dispute over sports betting

    31/03/2026

    South Korea tax agency seeks private crypto custodian after security lapses

    31/03/2026

    What It Means for Your Portfolio

    30/03/2026

    The Last 1% May Be the Dangerous Part

    30/03/2026

    Binance Announced New Measures to Address Major Manipulations in the Altcoin Market

    31/03/2026

    UAE breaks to the top in terms of tokenized real estate global rankings

    31/03/2026

    Bitget Wallet expands stablecoin payments with Visa, Mastercard, and Ripple integration

    31/03/2026

    EY warns firms they must own the wallet to keep their customers

    31/03/2026
  • MarketCap
NBTC News
Home»Legal»What You Need to Know About the Department of Government Efficiency
Legal

What You Need to Know About the Department of Government Efficiency

NBTCBy NBTC08/01/2025No Comments7 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


SpaceX CEO Elon Musk and entrepreneur Vivek Ramaswamy will helm a new U.S. government initiative aimed at lowering the federal budget deficit.

Called the Department of Government Efficiency (DOGE), the initiative—which has an acronym identical to the ticker of Musk’s favorite cryptocurrency, Dogecoin—will “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” according to President-elect Donald Trump.

However, some details about the project remain unclear. Here’s everything we know so far about DOGE.

What is DOGE?

DOGE is an upcoming U.S. government initiative that Elon Musk first tweeted about in August.

While the project initially appeared to be a gag—created as a gag, and unsurprisingly pumping the price of Dogecoin whenever mentioned by Musk—Trump threw his support behind DOGE’s push to curtail government spending, suggesting the once fictitious department will actually become a real-life U.S. government-affiliated entity.

“Together, [Elon Musk and Vivek Ramaswamy] will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies—essential to the ‘Save America’ movement,” Trump said in a statement.

The project will be active until “no later than July 4, 2026,” Trump said; that’s the 250th anniversary of the Declaration of Independence.

President Donald J. Trump announces the Department of Government Efficiency (DOGE) — headed by @elonmusk and @VivekGRamaswamy pic.twitter.com/Ya2o45qlV8

— Trump War Room (@TrumpWarRoom) November 13, 2024

Notably, DOGE is not an official U.S. government department in the traditional sense, as only Congress—not the president—can approve the creation of new federal government departments, according to the U.S. Congress’ website.

Rather, Musk’s meme-linked brainchild will exist “outside” of the government system, Trump said. That means DOGE will likely not receive government funds. It also means that the project’s ability to directly control U.S. government agency budgets will be minimal, although DOGE’s directives could be implemented by Trump’s supporters in Congress.

Who will run DOGE?

Billionaires Elon Musk and Vivek Ramaswamy will lead the charge at the Department of Government Efficiency. Neither executive will receive compensation from their work, according to a Twitter post that Musk published.

Musk, of course, is the CEO of Tesla and SpaceX, and the owner of Twitter (aka X). Ramaswamy is an entrepreneur and one-time Republican presidential hopeful, who exited the race during the primaries and threw his support behind Trump.

Indeed, this will be tedious work, make lots of enemies & compensation is zero.

What a great deal! 😂 https://t.co/16e7EKRS6i

— Elon Musk (@elonmusk) November 14, 2024

The initiative will also tentatively be staffed by a number of “super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting,” according to the department’s official post. It is not yet known how many workers will be hired to staff the project, but the gigs will be unpaid, Elon Musk tweeted.

Billionaire Marc Andreessen of venture capital giant Andreessen Horowitz has been recruited to act as DOGE’s “key networker for talent recruitment,” the Washington Post reported, citing an anonymous source.

The initiative’s billionaire co-leaders have also allied with several Silicon Valley bigwigs to address “technical challenges to collecting data about federal employees and program”—a major problem that the initiative aims to resolve, according to the same report. Those advisors include Palantir co-founder Joe Lonsdale and hedge fund manager Bill Ackman, the paper reported, citing multiple people familiar with the matter.

Neither Ramaswamy nor Musk replied to Decrypt’s request for comment.

What will DOGE actually do?

DOGE’s mandate is to streamline the U.S. government by issuing reports that provide advice and guidance on trimming government regulations and spending, according to Trump.

“Your money is being wasted, and the Department of Government Efficiency is going to fix that. We’re going to get the government off your back and out of your pocketbook,” Musk said in October at a rally for Trump at New York City’s Madison Square Garden.

The quasi-department plans to accomplish that task by pushing its cost-cutting proposals through Congress. Musk and Ramaswamy could also present their ideas directly to Trump, who has the power to circumvent Congress and issue executive orders that would call for the implementation of DOGE directives.

While critics have expressed doubts as to how much change DOGE will be able to effect, it has become increasingly likely that its budget-slashing measures will get at least some play in Congress.

In late November, GOP congressmen formed the Congressional Delivering Outstanding Government Efficiency (DOGE) Caucus, which will champion DOGE directives on Capitol Hill.

The group of House and Senate lawmakers is still growing, even onboarding its first Democratic member Rep. Jared Moskowitz (D-FL) in early December, according to The Hill. The Caucus’ formation is a sign that Musk and Ramaswamy’s efforts to rally lawmakers behind their extra-governmental agency are bearing fruit.

In November, Musk and Ramaswamy reportedly traveled to Washington D.C. and Mar-a-Lago, where they interviewed “seasoned Washington operators, legal specialists and top tech leaders,” to iron out their plans for the agency, according to the Washington Post, which cited five people familiar with the matter.

However, the quasi-department’s billionaire leaders have given differing statements over the extent to which the U.S. federal government’s spending should be slashed.

Musk has suggested reducing federal expenditures by $2 million—a third of the U.S. federal government’s total budget. Meanwhile, Ramaswamy has said he’d like to cut as much as 75% of the U.S. federal workforce, though the budget impact of such a cut is unclear.

Despite those differences, the DOGE leaders appear to be aligned on axing scores of federal government employees and several U.S. agencies, such as the Department of Education and the Federal Bureau of Investigation (FBI) to cut costs, according to recent public comments from Ramaswamy and Musk.

The magnitude of the waste is beyond what the public could possibly imagine

— Elon Musk (@elonmusk) November 15, 2024

“The magnitude of the [government funds] waste is beyond what the public could possibly imagine,” Musk tweeted, referencing U.S. federal government spending, which topped $6 trillion in 2023.

The Washington Post reported that Musk and Ramaswamy also plan to launch a podcast called the “DOGEcast,” offering weekly updates on their efforts.

Why is it called DOGE?

The faux department’s initialism, DOGE, appears to be a cheeky reference to the ticker for Dogecoin (DOGE), a high-market-cap meme coin beloved by Elon Musk. That link was reinforced by an official t-shirt sold by Trump featuring the president-elect, Musk, and a Shiba Inu dog.

BREAKING: Trump campaign launches D.O.G.E. merch. with a shiba inu on it. pic.twitter.com/lAPpDWAKtM

— DogeDesigner (@cb_doge) November 8, 2024

The meme, which is famous for its Shiba Inu mascot, was invented in 2013 by a pair of software engineers. Musk has said that he owns a “bunch” of Dogecoin, and he has tweeted and spoken about the coin routinely over the past years. He even called himself the “Dogefather” in 2021 and mentioned the coin while hosting Saturday Night Live.

Dogecoin’s value climbed amid Musk’s support for Trump on the campaign trail, and then skyrocketed after Trump’s win and amid the official announcement of DOGE leadership. The coin hit a three-year-high price recently and has helped spur other notable meme coins to surge in value, as well.

What’s the latest on DOGE?

Musk and Ramaswamy went to Capitol Hill on December 5 to discuss a concrete outline of DOGE’s objectives with a group of lawmakers.

In the private meeting, the mostly Republican senators pored over the businessmen’s 60-page cost-cutting proposal for the federal government, Fox News reported. The meeting was led by Sen. Joni Ernst (R-IA), chairman of the U.S. Senate’s newly created DOGE Caucus.

During the session, Musk told the lawmakers that he and Ramaswamy would maintain a “naughty and nice” list of politicians who support the billionaires’ budget slashing proposals and those who don’t, the Associated Press reported, citing lawmakers who attended the meeting.

In January, House Speaker Mike Johnson agreed to establish a task force of independent experts to liaise with the DOGE, further legitimizing the billionaires’ extra-governmental initiative. Johnson has since been reelected House Speaker.

Edited by Andrew Hayward

Editor’s note: This story was originally published on November 17, 2024 and last updated with new details on January 5, 2025.


Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Kalshi gets temporary Nevada ban in dispute over sports betting

31/03/2026

South Korea tax agency seeks private crypto custodian after security lapses

31/03/2026

What It Means for Your Portfolio

30/03/2026

The Last 1% May Be the Dangerous Part

30/03/2026
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Binance Announced New Measures to Address Major Manipulations in the Altcoin Market

31/03/2026

UAE breaks to the top in terms of tokenized real estate global rankings

31/03/2026

Bitget Wallet expands stablecoin payments with Visa, Mastercard, and Ripple integration

31/03/2026
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.