The website of newly created U.S.
“To restore competence and effectiveness to our federal government, my administration will establish the brand-new Department of Government Efficiency,” Trump declared during his speech after the swearing-in.
An
Dogecoin and parody DOGE tokens showed mixed movements alongside a broader market decline, bucking a historic tendency of the tokens to move higher on such mentions.
DOGE was down as much as 5% in the past 24 hours, before reversing losses, tracking a nearly 5% drop in the broad-based
Musk first raised the idea of DOGE in October as a non-governmental agency to make government spending more efficient. That has since fueled expectation among traders that there could be more chatter of “DOGE” in mainstream media and retail trading circles, fueling attention and interest in dogecoin, as a CoinDesk analysis
DOGE isn’t appreciated in government quarters and
It says the department has an unclear legal structure. Public Citizen, another watchdog, is demanding more details about how the group will function.
UPDATE (Jan. 21, 12:40 UTC): Rewrites first paragraph to mention the logo, moves tokens movements to fourth paragraph, adds Musk dogecoin tweets in third.