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Tech mogul Elon Musk announced plans to shut down the Department of Government Efficiency (D.O.G.E.) by 4 July 2026.
This initiative, led by Musk and entrepreneur Vivek Ramaswamy, was designed to tackle inefficiencies in government spending. The initiative was also supposed to address national debt.
Most government projects should come with a clear expiry date. That’s why we set one for @DOGE: July 4, 2026.
— Vivek Ramaswamy (@VivekGRamaswamy) December 2, 2024
However, the proposed closure date has sparked a wave of reactions from top crypto influencers and enthusiasts. They believe that the timeline is insufficient for achieving its ambitious goals.
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Co-founder Of Dogecoin Takes A Jab
Billy Markus, co-founder of Dogecoin and known online as Shibetoshi Nakamoto, joined in on the fun by sharing a meme referencing self-destruction!
The announcement has resonated with Dogecoin supporters, who have long associated D.O.G.E. with their beloved meme cryptocurrency.
Some have taken a light hearted approach to the news, with @dogeofficialceo humorously predicting that Dogecoin will become the “global reserve currency” by 2026.
Despite the playful responses, there is an underlying seriousness in the community’s reaction.
Many see D.O.G.E. as a potential catalyst for meaningful change in government efficiency and fiscal responsibility. Importantly, it is a mission they believe should not be constrained by an arbitrary deadline.
Sean Ono Lennon, son of legendary musician John Lennon, voiced his concern on social media, stating that more time is needed for such a transformative initiative.
Gabor Gurbacs, strategic advisor at Tether, echoed these sentiments, suggesting that a permanent “DOGE Ombudsman” function might be necessary to ensure lasting reform in US government operations. His comments highlight the widespread belief among crypto enthusiasts that D.O.G.E.’s objectives require a longer-term commitment.
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The Birth Of D.O.G.E.
The Department of Government Efficiency, humorously abbreviated as D.O.G.E., was established following the election of a new US political leader. It aims to streamline government operations and reduce wasteful spending.
Moreover, Musk’s involvement in this project drew significant attention due to his influential role in both the tech and crypto sectors.
Musk’s announcement came via a retweet from Ramaswamy, who emphasized the necessity for government projects to have definitive expiration dates.
Interestingly, the chosen shutdown date coincides with the 250th anniversary of America’s independence.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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