Elon Musk is one of the most visible promoters of Dogecoin, but says that the U.S. Government has no plans to use it.
On March 30, The town hall Musk, in Green Bay Wisconsin at a meeting of his America PAC hosted by the Department of Government Efficiency of the United States (D.O.G.E. ), distanced itself from Dogecoin, a cryptocurrency. Dogecoin, the cryptocurrency created by Dogecoin, was distanced from Musk at a Green Bay event in Wisconsin hosted by his America PAC.
He said, “As far as I’m aware, there are no plans to have the government use Dogecoin.” It’s just that they have the same names. We are actually trying to improve government productivity by 15%.
Musk said that the idea for the name came from suggestions made online. “I was going to call it Government Efficiency Commission, but that's a super boring name,” he said. “Then, the internet told me it needed to be Department of Government Efficiency. I was like, ‘The Internet is right.'”
In February D.O.G.E.Official website of D.O.G.E. Just a brief display Dogecoin’s Shiba-Inu Mascot has fueled rumors about a cryptocurrency tie up and sent the coin to an increase of 14%, bringing it to $58 Billion in market capitalization.
Musk was investigated for his attempts at promoting Dogecoin. Musk was sued for market manipulation in 2023.
Musk’s latest comments had little effect. Dogecoin has fallen 3.3% in the last 24 hours to $0.1654, says CoinGecko.
The show was first teased on August 20, 2024. D.O.G.E. D.O.G.E. It has now become the centerpiece of Donald Trump’s drive to reduce federal spending. This project is intended to reduce spending, eliminate regulatory overlap and restructure the federal agencies.
Since the official launch of its department, it has made mass cuts to funding programs relating to climate research, diversity and equity, inclusion and scientific research.
The U.S. Agency for International Development and Social Security Administration both have a stake in this. D.O.G.E. The D.O.G.E.
Musk’s role as an official is still a matter of controversy. Trump publicly referred to him as department leader, while the White House insists that Musk is merely a senior adviser without any policy authority.
Musk said that he was not paid by the Department for his services.
Sebastian Sinclair edited the book
