Brian Armstrong's thoughts on D.O.G.E.
Coinbase CEO Brian Armstrong pointed out that President Donald Trump's newly announced Department of Government Efficiency (D.O.G.E.) is a golden opportunity to reform the bloated government in the United States. He declared: "D.O.G.E. is an opportunity to increase economic freedom in the United States and reduce the size of government to a healthy state." At the same time, Brian also proposed some ideas of his own. For example, through a constitutional amendment, government spending would be limited to 10% of GDP. He believes that "the founding fathers had extraordinary wisdom, but they may not have expected that democratic governments would win elections by promising free benefits, which would cause some problems over time." To avoid this, he suggested adjusting the incentive mechanism and even considering prohibiting members of Congress who approve unbalanced budgets from being re-elected as a punishment. In addition, he proposed the establishment of a US sovereign wealth fund, in which every citizen has a share and dividends are paid to citizens when the budget is in surplus. "This way everyone has a stake in the country's finances," he explained, and he also mentioned that Congress could hold more shares to ensure fiscal discipline.
Trump’s arrangement with D.O.G.E.
Just a week after Trump won a second term, he announced D.O.G.E. as part of his plan to cut federal waste. To lead the effort, he hired two billionaires, Elon Musk, the chief executive of Tesla, and Vivek Ramaswamy, a biotech entrepreneur. Trump made clear that he was excited about the results, describing D.O.G.E. as a powerful tool to cut excessive regulation, reduce wasteful spending and reorganize federal agencies.
Still, the fact that D.O.G.E. is not an official government department raises questions about how much power Elon and Ramaswamy actually have, since Congress controls federal spending. Even so, Trump’s choice is clear. Elon’s profile on X now reads: “The people voted for major government reform.” Ramaswamy is no slouch, and at a Mar-a-Lago event hosted by the America First Policy Institute, he made a splash with his bold plan: “We’re going to purge millions of unelected bureaucrats from Washington, D.C. Elon isn’t here to fix things, he’s here to make big changes, and it’s going to be a sea change.” And Trump’s tight timeline for the initiative, which is due by July 4, 2026 — the 250th anniversary of the founding of the United States — leaves many unanswered questions, such as who will fund D.O.G.E. and whether Elon and Ramaswamy are actually serving for free. So far, Trump's campaign has remained largely silent on the issue, but an official D.O.G.E. account on X recently recruited "high-IQ small government revolutionaries" who would work more than 80 hours a week without pay. Elon also emphasized: "Zero pay."
The Dogecoin craze
While D.O.G.E. is primarily focused on cutting government waste, the meme-based cryptocurrency it subtly references, Dogecoin, has also seen its moment in the spotlight. Since Trump announced the initiative, Dogecoin has surged in value, currently trading at $0.38, having tripled in the past month. Its daily trading volume is as high as $21.7 billion. Trump's special association with Dogecoin in the D.O.G.E. initiative has undoubtedly driven its rise. Of course, Elon remains a key figure in the resurgence of Dogecoin, and his support, coupled with his role in D.O.G.E., has reignited the enthusiasm of retail and institutional investors. Analysts predict that Dogecoin's price may continue to fluctuate, with a potential price of $0.50 expected by the time of the inauguration. Currently, Dogecoin has a market capitalization of $52.38 billion, making it one of the most valuable cryptocurrencies, with its daily price fluctuating between $0.34 and $0.38.
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