- Ramaswamy exits D.O.G.E to focus on the Ohio governor campaign.
- Musk’s dissatisfaction with Ramaswamy escalates after a social media post.
- Dogecoin price sees sharp decline following leadership change.
Vivek Ramaswamy has officially left his position as co-leader of the D.O.G.E. initiative, citing a shift in focus to his political future in Ohio. His exit has set off a chain of reactions, including a dramatic 7% decline in Dogecoin’s value.
Ramaswamy resigns from D.O.G.E
Vivek Ramaswamy has resigned as co-leader of the Department of Government Efficiency (D.O.G.E), an initiative created by Elon Musk and backed by President Donald Trump. Ramaswamy’s resignation comes amid growing speculation that he will soon announce a run for governor of Ohio. His departure marks a shift in D.O.G.E. leadership, which has already seen tensions rise following his recent comments.
Ramaswamy’s exit was driven by his political ambitions, which he confirmed in a statement. He emphasized his intent to focus on Ohio as he continues to support Trump’s political agenda. He expressed confidence in the future of D.O.G.E., under the leadership of Musk and his team, to streamline government operations.
However, reports indicate that there were tensions between him and Musk, especially after a controversial post by Ramaswamy on social media. Musk reportedly became dissatisfied with the timing of Ramaswamy’s comments, which included critiques of American work culture and tech hiring practices.
In his post on X, Ramaswamy suggested that the tech industry’s preference for foreign workers reflected a culture of mediocrity. Musk’s dissatisfaction with the post and Ramaswamy’s focus on Ohio reportedly contributed to the decision to exit.
Speculations about Ramaswamy’s political future have intensified. Sources privy to Ramaswamy’s ambitions confirm that his decision to step down was influenced by imminent announcement for the candidacy for governor of Ohio.
The D.O.G.E initiative which aims to reduce federal spending through budget cuts and firings has drawn both support and criticism. Influential figures in the crypto world, such as Coinbase CEO Brian Armstrong, have backed the initiative, citing its importance. However, the initiative has also faced legal challenges from consumer advocacy groups.
Several lawsuits, filed soon after Trump’s inauguration, argue that D.O.G.E. violates the Federal Advisory Committee Act. Critics claim that the initiative gives private individuals like Musk too much influence over government decisions without adequate oversight.
Impact on Dogecoin price
However, the D.O.G.E project gained attention during Trump’s inauguration, when Musk made a playful remark about taking Dogecoin to Mars. The statement led to a temporary surge in Dogecoin prices, although the market soon corrected, dropping by over 7%. Ramaswamy’s resignation from D.O.G.E. has further contributed to the volatility in Dogecoin’s value.