Coinbase CEO Brian Armstrong Highlights DOGE, Here's The Idea!

Coinbase CEO Brian Armstrong highlighted DOGE (Photo; Doc. Coin Codex)

JAKARTA - Coinbase CEO Brian Armstrong expressed his support for a new concept aimed at addressing the fiscal challenges of the United States. He praised the establishment of the Department of Government Efficiency (D.O.G.E.), a project led by Elon Musk and Vivek Ramaswamy, as a major step towards economic reform that increases the financial freedom and efficiency of the government. Although not directly related to Dogecoin (DOGE), the name of the agency has sparked great attention to the meme coin in the crypto market.

Quoted from Crypto News Flash, Armstrong stated that one of the fundamental weaknesses in the democratic system is the government's tendency to continue to enlarge the budget for electoral purposes. He noted that the current system creates negative incentives for legislators to increase spending to promise more benefits to voters.

To address this issue, Armstrong proposed structural changes, including constitutional amendments that limit government spending to 10% of Gross Domestic Product (GDP). If implemented, this rule will force legislators to prioritize unnecessary efficiency and cut expenses.

Armstrong also supports Warren Buffet's idea of banning re-election for members of Congress who support unbalanced budgets. These steps, according to him, will create fiscal discipline and optimize government incentives to meet people's needs in a sustainable manner.

In addition to focusing on spending efficiency, Armstrong suggested establishing a Sovereign Wealth Fund. In this scheme, every citizen will own shares in the fund, which will distribute profits from the government budget surplus. This aims to involve the people directly in state financial management, as well as encourage transparency.

However, Armstrong realizes that flexibility remains necessary in certain situations, such as war or major crises, where a temporary increase in government spending may not be avoided. Therefore, this system must accommodate emergency needs without sacrificing long-term fiscal accountability.

Interestingly, announcements related to DOGE indirectly provide encouragement to Dogecoin. While there is no official relationship between DOGE and the agency, similar names have sparked market interest. Dogecoin, which is trading around US$0.3645 (Rp5,777) at the time of writing, recorded a 60.50% increase in the past seven days.