US EditionElon Musk Dismisses Dogecoin Use By Government, Clears The Air On DOGE Department: 'Two Very Different Things'
- At a town hall meeting in Green Bay, Wisconsin, on Sunday, Elon Musk stated that the U.S. Government has no plans to use Dogecoin.
- Speculation had arisen regarding potential government adoption of Dogecoin, fueled in part by the similar acronym of Musk's Department of Government Efficiency initiative launched by President Trump to cut federal spending and streamline operations.
- Musk clarified that the DOGE initiative, which aims for a 15% efficiency gain and a $1 trillion deficit reduction, is entirely separate from the meme-based cryptocurrency Dogecoin, despite the name coincidence.
- Musk stated, "But there are no plans for the government to use Dogecoin or anything as far as I know," and "Well the names are similar, but they’re doing two very different things."
- Following Musk's clarification, Dogecoin, already down 7% over the past week, experienced a further decline, highlighting the cryptocurrency's sensitivity to Musk's statements, though its long-term value is driven by its community, use in microtransactions, and broader market sentiment, independent of government adoption which faces regulatory and security hurdles.
54 Articles
54 Articles
Congressman Keeps It Real: DOGE 'Was Never About Efficiency'
Representative Dave Min (D-CA) joined MSNBC's The Weekend on Sunday and was direct and clear about what the Republicans are actually doing (and why they are doing it) in a way that struck me -- for both how straightforward it was, but also because how it was a different way than I had heard other politicians speak about it. He didn't sound like a politician. He didn't try to sway votes or speak to one party. He just...said it. Here is a bit of w…
Elon Musk, Dogecoin Proponent and U.S. Agency Figurehead, Says 'No DOGE in D.O.G.E.'
Faint hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dented on Sunday as the department’s figurehead Elon Musk squashed any plans of adding the memecoin."There are no plans for the government to use dogecoin or anything,” Musk said during a speech at the America PAC town hall in Green Bay, Wisconsin.“I was going to call it Government Efficiency Commission, but that's a super boring name. T…
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