Elon Musk clarified that the U.S. authorities has no intention of adopting Dogecoin, regardless of rumors sparked by the creation of the Division of Government Effectivity (DOGE). Talking at a city corridor in Inexperienced Bay, Wisconsin, Musk emphasised that the division and the meme coin weren’t linked. “There are not any plans for the federal government to make use of Dogecoin or something so far as I do know,” Musk acknowledged, explaining that though the names had been related, their functions had been very totally different. The main target of DOGE was merely to make the federal government extra environment friendly, he added.
The confusion started after the division’s official web site briefly displayed Dogecoin’s Shiba Inu mascot in February 2025, which brought about hypothesis that the cryptocurrency is likely to be concerned. The worth of Dogecoin surged by 14% after the show, however Musk shortly distanced the federal government division from the crypto token. “We’re simply actually attempting to make the federal government 15% extra environment friendly,” he stated, reinforcing that Dogecoin was not a part of the initiative.
The Trump administration’s DOGE, launched in late 2024, has been tasked with restructuring authorities businesses and lowering prices. It has been significantly centered on slicing spending and eliminating pointless regulatory overlap. A number of the businesses affected embrace the U.S. Company for Worldwide Growth (USAID) and the Client Monetary Safety Bureau (CFPB). The division’s efforts to scale back the scale and price of the federal authorities have been controversial, with a number of lawsuits filed in response to the mass layoffs and finances cuts, which additionally impacted applications addressing local weather change and scientific analysis.
Musk defined that the title of the division got here from solutions on the web. Initially planning to name it the Government Effectivity Fee, he opted for the DOGE title after public enter. “The web stated it must be the Division of Government Effectivity,” he recalled. This playful title had led to additional hypothesis that Dogecoin may play a job within the division, which Musk has now totally denied.
Regardless of Musk’s statements, Dogecoin’s worth fell by 3.2% within the 24 hours after the clarification, dropping to $0.16. This got here after the sooner surge when the Shiba Inu mascot was briefly proven on the DOGE web site.
Whereas Musk’s function within the division stays unclear, the White Home has described him as a senior advisor with out policymaking energy. President Trump, nonetheless, has referred to him because the division’s chief. Musk has additionally confirmed that he’s not receiving compensation for his involvement within the challenge. The division’s bigger aim is to scale back the federal authorities’s measurement and make it more cost effective, a mission that has turn into a central a part of Trump’s administration.
