Elon Musk claims that the US government doesn’t intend to utilize Dogecoin.

Elon Musk claims that the United States government has no intention of using Dogecoin despite being one of its most important organizers.

At a town hall held on March 30 in Green Bay, Wisconsin, Musk made a point about the Dogecoin cryptocurrency from the federal Department of Government Efficiency ( D. O. G. E. ).

According to him,” as far as I know, there are no programs for the government to apply Dogecoin.” They do indeed have similar names, but in reality, we’re only trying to make the federal 15 % more effective.

Musk claimed that the title derived from virtual recommendations. He said,” I was going to call it Government Efficiency Commission, but that’s a really boring name.” Therefore, according to the internet, Department of Government Performance is required. I thought,” The Internet is best.”

Despite this, Dogecoin’s Shiba Inu mascot was briefly displayed on the official website of D. O. G. E.’s company in February, easing rumours of a bitcoin tie-in and leading to a$ 58 billion market cap increase. &nbsp,

The SEC has been looking into Musk’s prior attempts to promote Dogecoin. He was the subject of a complaint involving market adjustment in 2023.

Musk’s new remarks, in contrast, have had little of an impact. Potrivit to CoinGecko, Dogcoin has fallen 3.3 % over the past 24 hours to close at$ 0.1654.

The D. O. G. E. action, which was first teased in August 2024, has become a focal point of President Donald Trump’s effort to reduce the size of the federal government. The project aims to reduce federal agency restructuring, reduce regulation clash, and cut spending.

The office has conducted extensive layoffs and reduce funding for programs involving diversity, equity, and inclusion since its official launch. &nbsp,

The Social Security Administration ( SSA ), the Consumer Financial Protection Bureau ( CFPB), and the United States Agency for International Development ( USAID ) are among the organizations affected. D. O. G. E. is now facing a number of complaints that attempt to reduce its authority.

Musk’s established position is still up for debate. Trump has officially described him as the agency’s head, while the White House maintains that he is acting as a senior consultant without plan authority. &nbsp,

Musk has stated that he is not being compensated for his job with the organization.

edited by Sebastian Sinclair