President-elect Donald Trump recently announced that Elon Musk and Vivek Ramaswamy will lead a new "Department of Government Efficiency" (D.O.G.E.) in his administration.

The goal of this newly created department is to overhaul the U.S. federal government by reducing bureaucratic red tape, cutting down on wasteful spending, and restructuring federal agencies.

Trump has set a completion goal for this initiative by July 4, 2026, emphasizing a drive for "drastic reform" in government operations.

Elon Musk, the billionaire CEO of Tesla and SpaceX, has been a vocal supporter of Trump's reelection, contributing significant funds and advocating for regulatory cuts that align with his business interests.

Ramaswamy, known for his venture into politics and background in biotechnology, shares a deregulatory vision that Trump sees as essential to achieving greater government efficiency.

This initiative, while largely symbolic and unprecedented, also sparked reactions in financial markets, with Dogecoin seeing a brief surge after the acronym “D.O.G.E.” ($DOGE )