Dogecoin (DOGE) hit a yearly high of $0.39 following the announcement of the U.S. Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy. The agency, revealed by President-elect Donald Trump on Nov. 13, aims to streamline government by reducing waste and regulations.
Coinbase CEO Brian Armstrong voiced support for DOGE, highlighting its potential to enhance economic freedom. In a Nov. 17 post, Armstrong proposed constitutional amendments to cap government spending at 10% of GDP and suggested creating a sovereign wealth fund to provide citizens with dividends from budget surpluses. He emphasized the need for incentives to prevent government overspending and ensure long-term efficiency.
Source: Cointelegraph
