Billionaire Elon Musk, a fervent supporter of the Dogecoin crypto, and entrepreneur Vivek Ramaswamy were chosen by Donald Trump to lead a new agency aimed at modernizing and streamlining the functioning of the American federal state.
Trump appoints Elon Musk as head of DOGE agency
It was during an official announcement on DOGE).
This new agencywhose acronym echoes Musk's favorite crypto, will have the mission of profoundly restructuring the American administrative apparatus, with a federal budget of 6.5 trillion dollars in its sights.
The mandate is clear: reduce bureaucracy, eliminate unnecessary spending and modernize the operation of federal agencies. “ Together, these two wonderful Americans will lead the way in dismantling government bureaucracy“, declared Trump, thus setting as a symbolic deadline July 4, 2026, the date of the 250th anniversary of American independence.
On X, Elon Musk has already announced the online publication of all the agency's actions “for maximum transparency”. In a move characteristic of his provocative style, the Tesla CEO also promised to establish a “ ranking of the stupidest expenses » of American taxpayers, which he himself describes as “ extremely tragic and entertaining“.
An immediate impact on crypto markets
This appointment comes in a particular context for the crypto market, in particular for Dogecoin, of which Musk is a fervent defender. The Shiba Inu dog memecoin has seen a dramatic rise since Trump's election, currently trading at $0.38, after reaching a peak of $0.43 on Tuesday.
The announcement effect of the appointment was immediately felt on the markets. Despite a slight correction of 9.3% from its Tuesday peak, Dogecoin maintains an impressive 112% gain over the week, according to CoinGecko data. As a reminder, its historic record of $0.73 was reached on May 8, 2021.
The entire crypto ecosystem reacted positively to this news. This excitement testifies to the considerable influence that political decisions now exert on the crypto universe, while the border between technological innovation and traditional governance continues to blur.
In short, the appointment of Elon Musk as head of the DOGE agency marks a turning point in the history of the American administration. This unprecedented fusion between technological entrepreneurship and federal governance could redefine the standards of administrative efficiency, while creating unexpected synergies with the crypto world.
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