Brian Armstrong, CEO of U.S.-based cryptocurrency giant Coinbase, has backed the future efforts of the Department of Government Efficiency (D.O.G.E.), which uses Musk and Ramaswamy’s ideas to cut government bureaucracy and government spending.

Coinbase CEO Brian Armstrong Praises Elon Musk’s DOGE Proposal, Considers Possible Outcomes

The Department of Government Efficiency (DOGE), a proposal to cut US government spending by at least $2 trillion, is gaining attention from those in the crypto world.

Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the United States, recently praised DOGE, mentioning the potential actions that this organization must pioneer to achieve its goals.

This department, co-led by SpaceX CEO Elon Musk and former Republican presidential candidate Vivek Ramaswamy, has been praised for its ability to control U.S. spending and ensure efficiency in managing public funds.

Regarding the idea of DOGE, Armstrong noted that this is "a once-in-a-millennium opportunity to enhance economic freedom in the U.S. and reduce the size of government back to a healthy level." He emphasized that while the Founding Fathers built the nation, they may have overlooked the complexities of the democratic system, which promotes the expansion of government to sustain itself in elections.

Armstrong emphasized that "We may need a constitutional amendment to limit total government spending (for example, 10%) or a way to adjust incentives," while suggesting different ideas to achieve DOGE's goals. He believes that establishing a sovereign fund where citizens share and can participate in the game could help steer DOGE in the right direction to cut these costs.

Even with these statements, the true scope of DOGE remains a question mark, as its future status as an official government entity is being debated by some due to the unpredictable scope of DOGE's actions. Ramaswamy claimed that entire government agencies could be eliminated, as President Milei did when he began his actual term by dissolving and disarming several ministries in Argentina.

President Milei previously commented that their Chainsaw model, which includes moves to deregulate and streamline state bureaucracy, is similar to what Musk hopes to implement in the U.S.