Trump Administration Ended DOGE Project Sooner Than Expected

A development that has caught the attention of crypto investors and economists has occurred. According to a report by Reuters, the Department of Government Efficiency project, or DOGE, initiated by former U.S. President Donald Trump, was shut down eight months earlier than expected. This situation indicates that the Trump administration's efforts to increase efficiency have turned into a certain fiasco.

Launched in January, DOGE was at the center of Trump's plan to reduce bureaucracy. The project stood out with ambitious steps such as the restructuring of many federal agencies, budget cuts, and increasing government efficiency. However, as announced by Scott Kupor, Director of the Office of Personnel Management, DOGE can no longer sustain its existence. This initiative, which was thought to lead to significant changes nationwide, came to an end with a quiet closure.

Elon Musk's participation in DOGE initially garnered significant public interest in the project. Musk had attracted attention with his social media posts and performances at public events. He had described DOGE as "the chainsaw of this bureaucracy." However, the expected financial savings and efficiency increases were not supported by a detailed report.

Even though DOGE has closed, some individuals who worked on the project have moved to new positions. For example, Joe Gebbia, co-founder of Airbnb, has been appointed to lead the National Design Studio, which improves the design of government agencies. It has been reported that other DOGE employees have strengthened various federal agencies such as the Department of Health and the Office of Oceanic Research with new roles.

Although the Trump administration has announced that the goal of reducing public spending continues, the closure of the DOGE project reignites discussions about how effective Washington has been in achieving these targets. Investors can observe how such developments will reflect the U.S. government's financial policies on crypto assets and the markets more generally.