SpaceX CEO Elon Musk and entrepreneur Vivek Ramaswamy will helm a new U.S. government initiative aimed at lowering the federal budget deficit.

Called the Department of Government Efficiency (DOGE), the initiative—which has an acronym identical to the ticker of Musk’s favorite cryptocurrency, Dogecoin—will “slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” according to President-elect Donald Trump.

However, some details about the project remain unclear. Here’s everything we know so far about DOGE.

What is DOGE?

DOGE is an upcoming U.S. government initiative that Elon Musk first tweeted about last August.

While the project initially appeared to be a gag—created as a gag, and unsurprisingly pumping the price of Dogecoin whenever mentioned by Musk—Trump threw his support behind DOGE’s push to curtail government spending, suggesting the once fictitious department will actually become a real-life U.S. government-affiliated entity.

“Togeth

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Author: Liz Napolitano