Coinbase CEO Brian Armstrong Urges Overhaul of Government through D.O.G.E.

Brian Armstrong, the CEO of Coinbase, believes that President Donald Trump's recently announced Department of Government Efficiency (D.O.G.E.) presents a unique opportunity to transform the bloated American government.

"D.O.G.E. is a chance to enhance economic freedom in the U.S. and shrink the government to a healthy size," he stated.

Armstrong's Proposals for D.O.G.E.

Armstrong proposed several ideas for D.O.G.E., including:

• Capping government spending at 10% of GDP via a constitutional amendment
• Penalizing members of Congress who approve unbalanced budgets
• Establishing a U.S. sovereign wealth fund to distribute budget surpluses to all citizens

Trump Appoints Musk and Ramaswamy to Lead D.O.G.E.

A week after his reelection, President Trump unveiled D.O.G.E. as part of his plan to reduce federal waste. He appointed two prominent figures to lead the department: Tesla CEO Elon Musk and biotech entrepreneur Vivek Ramaswamy.

Trump emphasized the significance of results, describing D.O.G.E. as a tool to "cut excess regulations, wasteful expenditures, and restructure federal agencies."

Concerns about D.O.G.E.'s Authority

D.O.G.E. is not an official government department, raising questions about the extent of authority that Musk and Ramaswamy will possess. Congress ultimately controls federal spending. Despite these concerns, Trump's choices send a clear message.

Musk's Twitter bio now states, "The people voted for major government reform." Ramaswamy presented bold plans at an event hosted by the America First Policy Institute: "We'll be deporting millions of unelected bureaucrats out of D.C. Elon doesn't bring a chisel; he brings a chainsaw."

Questions Surrounding D.O.G.E.

The initiative's timeline, which concludes on July 4, 2026, America's 250th birthday, poses several questions. The source of funding for D.O.G.E. is unclear, as is the compensation structure for Musk and Ramaswamy.

Trump's campaign has remained largely silent on these matters. A recent announcement on X indicated the hiring of "super high-IQ small-government revolutionaries" willing to work unpaid for extended hours each week.

Dogecoin's Surge in Value

The meme cryptocurrency Dogecoin has experienced a surge in value since the announcement of D.O.G.E. trading at $0.38, a threefold increase over the past month. Daily trading volume has exceeded $21.7 billion.

Trump's reference to Dogecoin in the D.O.G.E. initiative has undoubtedly contributed to its resurgence. Musk's unwavering support for the cryptocurrency has reignited interest from investors. Analysts predict continued volatility for Dogecoin, with a potential price increase to $0.50 by the upcoming inauguration.

Dogecoin's market capitalization currently stands at $52.38 billion, making it one of the most valuable cryptocurrencies. Daily price movements have ranged between $0.34 and $0.38.