Elon Musk to lead new efficiency department named after his favourite crypto

Elon Musk has been appointed to lead the newly established Department of Government Efficiency (DOGE) under Donald Trump's administration. This department, named after Musk's favored cryptocurrency, Dogecoin, aims to reduce government bureaucracy and regulations. Musk will co-lead DOGE with Vivek Ramaswamy, a Trump ally and entrepreneur. Trump described the initiative as potentially transformative, likening it to the Manhattan Project, and emphasized its goal of creating a more efficient government. Musk stated that the department would expose government waste and promised transparency by posting all actions online. The initiative is expected to conclude by July 4, 2026, coinciding with the 250th anniversary of the Declaration of Independence. Musk's close ties to Trump and his significant financial support for Trump's campaign have positioned him as a key figure in the administration. The announcement comes as Trump rapidly assembles his Cabinet, with several key appointments already made.

- Elon Musk appointed to lead the Department of Government Efficiency (DOGE).

- The department aims to reduce bureaucracy and government waste.

- Musk will co-lead with Vivek Ramaswamy, a Trump supporter.

- The initiative is expected to conclude by July 4, 2026.

- Trump's administration is quickly forming its Cabinet with various key appointments.