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

Dogecoin Dev Clarifies How DOGE Merge Mining Works

15/08/2026

Trump Media launches Truth API amid SEC scrutiny

15/08/2026

Prediction markets hit record $50.6B July volume

15/08/2026
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

    Bitcoin price tops $65K ahead of key U.S. CPI report

    15/08/2026

    The Most Critical Level to Watch Has Been Revealed

    15/08/2026

    Dormant Bitcoin wallet moves 26.96 BTC, sitting on $1.73M gain

    15/08/2026

    Bitcoin BIP editor seeks Luke Dashjr’s removal

    15/08/2026

    Ethereum staking hits record high – Will EIP-8363 slow ETH issuance?

    14/08/2026

    Fidelity moves to add staking, quarterly payouts to near $900 million ether ETF

    14/08/2026

    Bitmine Adds $289.4M in ETH to Staking, Now Controls 4.2% of Ethereum Supply

    14/08/2026

    Jeffrey Huang Loses $2.5M in ETH Long Liquidations, Reopens High-Leverage Position

    14/08/2026

    Dogecoin Dev Clarifies How DOGE Merge Mining Works

    15/08/2026

    A Large Number of Token Unlocks Are Scheduled for 18 Altcoins This Week—Here’s the Day-by-Day, Hour-by-Hour Listat

    15/08/2026

    Ripple (XRP) ETFs Resume Inflow Streak, but There’s an Elephant in the Room

    15/08/2026

    Grayscale is setting up a quarterly cash showdown between Ethereum and Solana staking

    15/08/2026

    Artprice’s AI-First Shift Raises the Stakes for NFT and Tokenized Art Valuation

    15/08/2026

    Robinhood Chain NFT Volume Surges Past Ethereum, But Analysts Warn of FOMO

    14/08/2026

    Jeffrey Huang Sells BAYC NFT at Loss to Sustain ETH Long Position

    14/08/2026

    Spritehood NFTs raise $1.28M on Robinhood Chain

    12/08/2026

    Dogecoin Dev Clarifies How DOGE Merge Mining Works

    15/08/2026

    Trump Media launches Truth API amid SEC scrutiny

    15/08/2026

    Prediction markets hit record $50.6B July volume

    15/08/2026

    Conflux sets v3.1.0 hard fork for Aug. 25 with seven CIPs

    15/08/2026
  • Blockchain

    Conflux sets v3.1.0 hard fork for Aug. 25 with seven CIPs

    15/08/2026

    BOLTS CEO says all modern encryption is ‘a good guess’ and quantum will call the bluff

    15/08/2026

    Erik Zhang outlines OneGate vision for decentralised identity, digital rights

    15/08/2026

    Wall Street’s private blockchain obsession is a ‘race to the bottom,’ Ethereum advocate Raman warns

    15/08/2026

    Quantum Computing Not an Immediate Threat to Crypto Holders

    15/08/2026
  • DeFi

    Neutrl pauses NUSD redemptions over undisclosed reserve issue

    14/08/2026

    Uniswap Founder Says Team Renounced Creator Fees From Employee Testing

    14/08/2026

    SushiSwap-Backed Pools.fun Announces Protocol Token Launch with Buyback and Airdrop Plans

    13/08/2026

    ‘DeFi doesn’t exist anymore,’ just onchain finance: Andre Cronje

    13/08/2026

    Ether.fi rolls out next-generation neobank services

    13/08/2026
  • Metaverse

    Is Solana Gaming Back? Kintara Activity Fuels Renewed Optimism in Onchain MMOs

    24/06/2026

    The Sandbox launches AI game engine ‘The Sandbox Studio’ for next-generation creators

    10/06/2026

    Meta commits $13M in funding for Oversight Board through 2028

    29/05/2026

    Why Animoca’s Yat Siu says the future is 100 billion AI agents

    07/05/2026

    ‘8,000 Jobs’—Polymarket Sees Tech Layoff Surge As Meta AI Push Bites

    18/04/2026
  • Regulation

    Fireblocks Says 99% of EU Firms Back Crypto Rules as Funding Accelerates

    15/08/2026

    Jump Capital bets on enterprise AI with new $350M Fund VIII

    15/08/2026

    How Would Investors Respond to the Upcoming NFP Data?

    15/08/2026

    MSCI Proposal Could Push Strategy Out of Major Global Indexes

    15/08/2026

    Coinbase misses Q2 revenue – But analysts remain bullish as Ark Invest buys $8M COIN

    15/08/2026
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Prediction markets hit record $50.6B July volume

    15/08/2026

    AerodromeFi Unveils Major Upgrades Amid Emerging Market Developments

    15/08/2026

    Pumpfun Surpasses HyperliquidX in Weekly Revenue for Two Weeks

    15/08/2026

    Bithumb sets 2028 IPO target with governance overhaul plan

    15/08/2026

    ICO market slows sharply with only six completions in 2026

    30/04/2026

    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

    GameShame Studios founder details Raijin Protocol’s roadmap in NeoPod’s sixth AMA

    13/08/2026

    How BC.GAME is turning players into stakeholders

    04/08/2026

    YGG Play Shuts Down Services as Yield Guild Pivots to AI Data

    01/08/2026

    why gameplay now beats crypto rewards

    29/07/2026

    Bitcoin Hashrate Slips 17% Off Record as Miners Chase AI

    15/08/2026

    Soluna has 6.3 GW of data center projects on paper, only 192 MW are operating

    14/08/2026

    Bitcoin miner stocks rally in 2026 – How AI infrastructure reshaped BTC’s outlook

    14/08/2026

    Riot Platforms Sells 4,300 BTC to Fund Operations

    13/08/2026

    Trump Media launches Truth API amid SEC scrutiny

    15/08/2026

    Digital Chamber CEO Lays Out What Happens Next

    15/08/2026

    SEC Pauses Nasdaq Bitcoin Options Listing Amid CME Jurisdiction Challenge

    15/08/2026

    SEC and CFTC Likely to Fast-Track Crypto Rules if CLARITY Act Stalls

    15/08/2026

    Dogecoin Dev Clarifies How DOGE Merge Mining Works

    15/08/2026

    Trump Media launches Truth API amid SEC scrutiny

    15/08/2026

    Prediction markets hit record $50.6B July volume

    15/08/2026

    Conflux sets v3.1.0 hard fork for Aug. 25 with seven CIPs

    15/08/2026
  • 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

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Related Posts

Trump Media launches Truth API amid SEC scrutiny

15/08/2026

Digital Chamber CEO Lays Out What Happens Next

15/08/2026

SEC Pauses Nasdaq Bitcoin Options Listing Amid CME Jurisdiction Challenge

15/08/2026

SEC and CFTC Likely to Fast-Track Crypto Rules if CLARITY Act Stalls

15/08/2026
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

Dogecoin Dev Clarifies How DOGE Merge Mining Works

15/08/2026

Trump Media launches Truth API amid SEC scrutiny

15/08/2026

Prediction markets hit record $50.6B July volume

15/08/2026
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.