#cryptonews
President-elect Donald Trump announced late Tuesday that he appointed Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency, also known as DOGE.
Musk and Ramaswamy “will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” Trump said in a statement posted to Truth Social.
“Together, these two wonderful Americans will pave the way for my administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies — Essential to the “Save America” Movement,” he said, likening the endeavor to a modern-day “Manhattan Project.” Musk said in the same statement: “This will send shockwaves through the system, and anyone involved in Government waste, which is a lot of people!”
Trump appears to have established the DOGE department to conduct an extensive audit of the federal government’s financial health and operational performance, aiming to propose necessary reforms. The initiative specifically focuses on reducing waste and boosting efficiency.
Musk and Ramaswamy served as some of the most prominent surrogates for Trump during the 2024 presidential race, which Trump ultimately won last week.
Trump’s New DOGE Department Aims to Cut Government Waste with Musk’s Operational Expertise
However, Musk’s companies, SpaceX and Starlink, hold secured contracts with the US Armed Services. This has raised questions about how he will handle potential conflicts of interest regarding these contracts.
Musk endorsed Trump and donated at least $119m to his campaign through a pro-Trump political action committee, America PAC. As a result, he was seen as a supportive ally whose influence could help advance policies promoting innovation and reducing regulatory burdens—issues Musk has long championed.