The newly elected US President Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead the Trump administration’s ‘DOGE’ Initiative.
As we know, the 2024 US presidential election was won by former President Donald Trump, who benefited greatly from the influence of Tesla CEO Elon Musk. Vivek Ramaswamy also supported Trump, using his political influence to back the campaign. Prior to supporting Trump, Vivek had been in the presidential race himself, advocating for the adoption of Bitcoin and blockchain technology.
On November 12, 2024, Donald Trump officially confirmed that he appointed the world’s richest person, Elon Musk, and popular Indian-American businessman Vivek Ramaswamy to lead a new government agency, the Department of Government Efficiency (DOGE). Elon Musk shared a screenshot on his X account, confirming this official decision from Trump.
pic.twitter.com/Vnk4MCAofY
— Elon Musk (@elonmusk) November 13, 2024
It’s important not to confuse Dogecoin with DOGE. In this case, DOGE stands for “Department of Government Efficiency”. Musk will lead this department, which is aimed at reducing federal spending and cutting regulations.
DOGE’s name resembles Dogecoin ($DOGE), and many see this as Musk’s way of promoting Dogecoin. While Musk has not linked DOGE directly to Dogecoin, the crypto community is aware of his strategy to support Dogecoin publicly while avoiding legal conflicts.
According to recent media reports, Trump is also considering nominating Scott Bessent as the new Treasury Secretary. Bessent has a positive stance on cryptocurrencies; in the past, he stated that “cryptocurrency is about freedom” and believes Bitcoin can attract young people, new investors, and help cultivate a progressive culture in the US market.
US President-elect Donald Trump is considering nominating Scott Bessent as the new Treasury Secretary. Previously, investor John Paulson announced his withdrawal from the candidate list due to the complexity of his personal financial affairs. Bessent has a positive attitude…
— Wu Blockchain (@WuBlockchain) November 12, 2024
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