Elon Musk has been tapped to co-lead the Department of Government Efficiency (DOGE) after years of hyping up cryptocurrency Dogecoin.

Musk has been a big proponent of dogecoin over the years. Amid the post-election stock market boom, Musk's new position as co-head of DOGE sent the cryptocurrency soaring on Wednesday. It's remained high with slight fluctuations since then.

Elon Musk's Department of Government Efficiency said it is already recruiting people to work on the new initiative to cut federal spending.

Both men have voiced ambitious ideas for how to use their new powers, whatever they may turn out to be. Musk boasted that DOGE, a reference to his favored cryptocurrency Dogecoin, will send "shockwaves through the system,

Key Takeaways Donald Trump's new Department of Government Efficiency (DOGE), headed by Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy is hiring, according to an X post.The office is looking for "super high-IQ small-government revolutionaries" who are willing to take on a tedious volunteer opportunity.

Since winning back the presidency, Donald Trump has been busy selecting members of his cabinet. On Tuesday (Nov. 12), the Republican politician shared that entrepreneurs Elon Musk and Vivek Ramaswamy will lead a new branch dubbed the Department of Government Efficiency,

Elon Musk said in a post on the social platform X on Thursday that the brand new Department of Government Efficiency (DOGE) — an advisory group under President-elect Trump focused on slashing government costs and restructuring federal agencies — will require “tedious work” with “zero” compensation.