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    Brian Armstrong supports Elon Musk and Vivek Ramaswamy’s government efficiency initiative under Trump administration

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    Brian Armstrong, CEO of Coinbase, endorses the Department of Government Efficiency (DOGE) initiative headed by Elon Musk and Vivek Ramaswamy from President Trump. He believes the department, tasked with decreasing unnecessary regulations and expenses, can improve the country’s economy and possibly amend the government’s spending course. Armstrong also proposes a spending cap and establishing a sovereign wealth fund distributing budget surpluses amongst citizens. Dogecoin’s value peaked a day after Musk’s announcement about DOGE, but there is no official connection.

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    Brian Armstrong, the CEO of Coinbase is pretty stoked about the new Department of Government Efficiency (DOGE) led by Elon Musk and Vivek Ramaswamy. Donald Trump, who’s set to become president in 2025, initially suggested Musk might be part of his team back on Aug. 20. Then, on Nov. 13, it became official.

    Trump has given both big names the mammoth task of running a government agency aimed at cracking down on unneeded regulations and pointless expenses. Basically, making the government more efficient.

    Armstrong reckons this is a great way to help improve the country’s economic freedom. He went on to share his thoughts that this new department could even help put the government back on track.

    He noted that while the founding fathers were pretty smart, they may not have anticipated how governments can swell over time with the promise of free stuff to win votes.

    Other big ideas from Armstrong included maybe tweaking the constitution to cap the amount the government can spend, suggesting 10% as a potential figure. His thought process is centered around getting the government’s spending under control.

    He also threw around the idea of a sovereign wealth fund – where all US citizens get a share. Any budget surpluses could then be paid back as dividends to the people.

    The name of the department, DOGE, has a cheeky link to Dogecoin, even though there’s no actual connection. Interestingly, Dogecoin’s value shot up just after the US elections and the creation of the DOGE. The day after Musk’s post about the department, Dogecoin’s value spiked to a yearly high of $0.39.

    Musk has found himself in hot water before for supposedly messing around with Dogecoin prices back in 2022, but he fought off the lawsuit.

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