Coinbase CEO Brian Armstrong Backs Donald Trump's Plan to Create a Department of Government Efficiency (DOGE)

Trump's plan for the U.S. Department of Government Efficiency (DOGE) is to reduce federal government spending and cut some unnecessary regulations.

Coinbase CEO Shows Support for Trump’s Department of Government Efficiency (DOGE) Plan

The idea of creating a new Department of Government Efficiency (DOGE) is a “once in a lifetime opportunity” to increase economic freedom in the U.S., according to Coinbase CEO Brian Armstrong.

Armstrong mentioned the agency in an X post on Nov. 17, adding that the agency could cut the size of government back to health.

“The founding fathers were geniuses but (with humility) may have missed the adverse incentives which grow the size of democratic government over a long period of time,” Armstrong noted, adding that government spending could be scrapped by only 10% of the gross domestic product (GDP).

“While the U.S. government used federal spending more than doubled in the past few years. The constitution needs to be amended.”

He mentions that the unbalanced federal budget makes the congress members who vote for it have no right to the next term election.

“For that reason, the government needs to have the right incentives to control the budget in the long term,” Armstrong said.

Armstrong also explored the idea of a U.S. sovereign wealth fund, where every citizen could contribute to the funding and they would have a share. The budget surplus from the fund could be used as a dividend.

Earlier last week, on Nov. 13, U.S. President-elect Donald Trump officially announced Elon Musk as the leader of a newly created agency, the Department of Government Efficiency (DOGE).

This brand-new agency was inspired by Dogecoin and Musk will be accompanied by American entrepreneur and Republican Vivek Ramaswamy.

Musk and Ramaswamy were expected to cut wasteful expenditures, restructure federal agencies, and cut unnecessary regulations. Trump mentioned that this agency would bring a shockwave to the system, but potentially would become “The Manhattan Project” of our time.

Since Trump won the election and announced the new agency, Dogecoin has seen a significant increase of 163% in the past month and a rise in the price from $0.13 to $0.36. The Dogecoin has already been projected to hit $1 in the future.