Crypto Leaders Welcome D.O.G.E Initiative to Streamline US Governance

Key figures in the crypto industry, including Coinbase CEO Brian Armstrong and Gemini co-founder Cameron Winklevoss, have expressed strong support for the newly established Department of Government Efficiency (D.O.G.E).

Crypto industry leaders have welcomed the establishment of the Department of Government Efficiency (D.O.G.E) by the Trump administration, highlighting its potential to streamline US governance and address economic disparities.

Coinbase CEO Brian Armstrong voiced his support for the initiative, emphasizing the need to enhance economic freedom and reduce the government's size. He proposed constitutional amendments to cap government spending at 10% of GDP and align incentives to promote fiscal discipline. Armstrong also suggested creating a sovereign wealth fund with every citizen holding a share to foster fiscal accountability.

Meanwhile, Gemini co-founder Cameron Winklevoss expressed optimism about D.O.G.E's potential to tackle inflation and financial inequality. He described inflation as a "hidden tax" that disproportionately impacts lower-income households. By targeting inefficiency and waste, Winklevoss believes D.O.G.E can help reduce inflation and ease economic pressure on vulnerable communities.

Crypto Leaders Welcome D.O.G.E Initiative to Streamline US Governance

On November 17, Coinbase CEO Brian Armstrong highlighted the transformative potential of D.O.G.E. He described it as a unique opportunity to enhance economic freedom in the United States while reducing government size.

“The founding fathers were geniuses but (with humility) may have missed the adverse incentives which grow the size of democratic government over time (winning elections by promising more free stuff),” He wrote.

So, Armstrong suggested constitutional amendments to ensure the lasting impact of D.O.G.E. He proposed measures like capping total government spending at 10% of GDP or aligning incentives to promote fiscal discipline. Armstrong referenced Warren Buffett’s idea of disqualifying legislators who vote for unbalanced budgets from reelection.

The Coinbase CEO also acknowledged the need for flexibility during crises, such as wars, while emphasizing long-term controls to prevent runaway spending. Armstrong further proposed the creation of a sovereign wealth fund, where every citizen would hold a share. This, he argued, could enhance fiscal accountability and public engagement in financial decision-making.

Similarly, Gemini co-founder Cameron Winklevoss expressed his own optimism about D.O.G.E, emphasizing its potential to address inflation and financial inequality. He described inflation as a “hidden tax” that disproportionately impacts lower-income households.

Winklevoss believes that by targeting inefficiency and waste, D.O.G.E can play a crucial role in reducing inflation and easing economic pressure on vulnerable communities. He stressed that such reforms are essential to ensure a more equitable financial system.

“The importance of DOGE goes well beyond reigning in absurd government spending. It will lead to a decline in inflation which is a silent tax on all Americans that confiscates wealth and is also regressive, impacting low-income folks the most,” Winklevoss wrote.

Moreover, Ripple’s Chief Legal Officer Stuart Alderoty suggested that D.O.G.E focus on investigating spending inefficiencies within the Securities and Exchange Commission (SEC). Specifically, he inquired about the use of taxpayer money on the SEC’s public video series featuring SEC Chair Gary Gensler.