Coinbase’s Brian Armstrong threw his weight behind the newly launched Department of Government Efficiency (DOGE). This fresh federal agency, led by Tesla’s Elon Musk and entrepreneur Vivek Ramaswamy, aims to cut red tape and slash costs across U.S. government operations. President-elect Donald Trump, who suggested Musk for a prominent role back in August, officially announced the agency on Nov. 13, charging it with a mission to trim federal fat.
Armstrong jumped on board, viewing DOGE as a chance to restore America’s economic agility. On Nov. 17, he voiced his support on X, championing the new agency’s potential to “increase economic freedom” while advocating for a leaner, meaner government machine.
A Call for Fiscal Restraint and Citizen Stake
Armstrong didn’t just cheer from the sidelines. The Coinbase CEO got bold, hinting at the need for some serious constitutional tweaks. He proposed a spending cap—no more than 10% of the U.S. GDP—saying the Founding Fathers “may have missed the adverse incentives” fueling government bloat. For Armstrong, long-term stability means tethering spending to the right motivations, to keep things from spiraling beyond control.
Going a step further, Armstrong floated the idea of a sovereign wealth fund for the U.S., where every citizen holds a share. Any budget surplus, he suggested, could pay out dividends to this pool of shareholders, giving Americans a personal stake in fiscal health. Congress, he added, might snag a slightly bigger slice of the pie.
DOGE Coin Jumps Despite No Link to Meme Token
While this new government branch borrows the same ticker as the famed Dogecoin, there’s no official tie-in to the meme token. Nonetheless, the DOGE ticker still riled up the crypto crowd. A day after Musk’s announcement, Dogecoin rocketed to $0.39—a yearly peak—before pulling back slightly.
Musk, no stranger to DOGE-fueled speculation, navigated past a 2022 lawsuit that claimed he manipulated Dogecoin’s value. Despite the legal woes, the memecoin has maintained its enigmatic allure, especially with Musk’s knack for stirring the pot whenever DOGE hits the news cycle.
The fresh DOGE agency aims to bring real-world efficiency, but its meme cousin isn’t ready to leave the spotlight anytime soon.
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