Donald Trump, who was elected president in the US and will enter the White House in January, is implementing the “Department of Government Efficiency” or DOGE Administration, which Elon Musk talked about a lot during the election period. The institution, which can be translated into Turkish as the Public Efficiency Institution, plans to control government spending.

Vivek and Musk will be at the forefront

This institution, abbreviated as DOGE, will not be affiliated with the government and will receive support from outside. Trump stated in a statement he released late at night that Elon Musk and Vivek Ramaswamy will lead the institution. Trump said that Republicans have long been keen on DOGE and that this institution will eliminate excessive government spending, harsh regulations that harm the system and dysfunctional state bureaucracy. The two names were among the businessmen who supported Trump the most. Ramaswamy had also withdrawn from the presidential race in favor of Trump.

The American media, on the other hand, began to question how much an institution led by two businessmen who also support Republicans in a Congress where Republicans are strong can manage spending. There is also criticism that the moves of the two businessmen may cause a conflict of interest.

It had raised Dogecoin

Donald Trump’s victory in the US presidential elections had also raised Dogecoin, like Bitcoin. The largest meme coin’s last month’s rise had reached 300%.

Elon Musk’s continued support for Dogecoin and the fact that the institution’s abbreviation is DOGE are also shown as the biggest reasons for the rise in the meme coin.

Dogecoin is trading at $0.39 at the time the news was written.