2025-3-31 18:30 |
Elon Musk has put to rest persistent speculation linking Dogecoin (DOGE) to the newly formed US Department of Government Efficiency (D.O.G.E.), clarifying that the agency has no connection to the meme-based cryptocurrency. Speaking at a town hall hosted by his America PAC in Green Bay, Wisconsin, Musk said the similarity in naming was coincidental and driven by public input, not by any intention to integrate the digital asset into government operations.
“The names are similar, but they are doing two different things,” Musk explained. “So, in fact, I was going to call it the Government Efficiency Commission but that’s a super boring name. Then the internet said it needs to be the Department of Government Efficiency. I was like Internet is right. So we changed the name from Government Efficiency Commission to Department of Government Efficiency but there are no plans for the government to use Dogecoin or anything, as far as I know.”
There Is No Dogecoin In D.O.G.E.The clarification comes amid ongoing rumors and social media speculation that DOGE could play a role in the operations of D.O.G.E., a semi-governmental body tasked with streamlining federal expenditures and eliminating bureaucratic inefficiencies. The agency has reported estimated savings of $130 billion since its official launch in January, translating to an average of $840 per taxpayer, according to internal data.
Musk’s naming of the department—whether by design or coincidence—has proven consequential in crypto markets. Dogecoin surged in the months following D.O.G.E.’s informal announcement in August 2024, fueled by hopes that the token might be adopted in some capacity by the agency. The effect was further amplified when, in a symbolic gesture, the D.O.G.E. website briefly featured a Dogecoin logo in the days following Donald Trump’s 2025 inauguration, an incident that lent temporary credibility to the speculative link between the agency and the token.
However, Musk’s comments on Sunday at the town hall appear definitive. “There are no plans for the government to use dogecoin or anything,” he reiterated in an unambiguous dismissal of the theory.
The denial coincided with a modest retreat in DOGE markets. The token is down 3.8% over the past 24 hours, consistent with broader declines across the crypto sector in light of US President Donald Trump’s “Liberation Day.” Though no formal ties between Dogecoin and the government have ever been substantiated, the token’s recent rally—up nearly 70% since August—has been partially attributed to the D.O.G.E. narrative and Musk’s ongoing public support for Dogecoin in other contexts.
At press time, DOGE traded at $0.16.
origin »Dogecoin (DOGE) на Currencies.ru
|
