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The Department of Government Efficiency dismissed news of its disbandment as “fake” on Monday, declaring that it would be back soon with “regularly scheduled” updates.
The official X account of the Department of Government Efficiency, or DOGE, stated that the agency terminated 78 “wasteful” contracts last week, resulting in savings of $335 million for taxpayers.
President Trump was given a mandate by the American people to modernize the federal government and reduce waste, fraud and abuse,” the post read. “We'll be back in a few days with our regularly scheduled Friday update.”
Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, reacted positively to the development, saying, “Long live DOGE.”
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
DOGE’s statement comes after Office of Personnel Management Director Scott Kupor said that DOGE is no longer a “centralized entity,” with the OPM absorbing many of DOGE’s duties.
Notably, Kupor also reposted DOGE’s latest post.
DOGE launched in January with Musk promising $2 trillion in savings, an idea that initially received full support from President Donald Trump. Musk later split with Trump in June over the president's tax-and-spending bill.
DOGE’s website shows roughly $214 billion in savings, with the last update on Oct. 4 following the federal government shutdown. However, a Politico review found the numbers inflated by counting maximum possible contract values and not actual spending reductions.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1508, up 2.22% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: mundissima on Shutterstock.com
Posted In: $DOGE
