Coinbase CEO Pushes for Blockchain In Treasury Amid Elon Musk D.O.G.E. Success

Elon Musk, a billionaire entrepreneur, has a big goal: to make the U.S. government spend money wisely. The Department of Government Efficiency (D.O.G.E.), led by Musk, has already saved taxpayers $36.7 billion. 

This development has led to talks about using blockchain technology to make government spending more open. Crypto industry leaders believe blockchain could help track spending better and prevent waste.

The $100 Billion Problem: What Elon Musk Found

Musk’s project recently set sight on the U.S. Treasury and found a shocking revelation. Every year, about $100 billion in payments went to people without Social Security numbers or valid IDs. Musk called this very suspicious. 

Even worse, when government officials guessed that at least half of these payments, about $50 billion a year, could be fraud. Shockingly, that is $1 billion lost every week. Many payments had no apparent reason recorded, making it impossible to audit them. 

D.O.G.E.’s first fix is ensuring every government payment has a category code and explanation. Another problem is the outdated “DO-NOT-PAY” list, which helps block fraud. Right now, it is only updated once a year. Musk wants updates every week or day to stop scammers faster.

Can Blockchain Fix Government Spending?

DO..G.E.’s savings so far are just 1.8% of Musk’s big goal. In a recent interview, he revealed he has plans to cut the U.S. government spending by up to $2 trillion. Since then, his agency has found massive money leaks that cost taxpayers billions.

Musk’s plan has impressed many people, including Brian Armstrong, Coinbase CEO and co-founder. In an X post, Armstrong praised D.O.G.E.’s work. He pointed out that blockchain could help track government spending in real-time, making it easier for the public to see where money goes.

Jean Rausis, co-founder of the crypto platform Smardex, also shared this sentiment. However, Rausis warned that the system must be open to everyone for absolute transparency, not controlled by just a few people.

Some experts think Musk’s idea to put government spending on a blockchain could make the U.S. a leader in new financial technology. If the government uses a genuinely open and honest system, it could make America’s economy stronger and fairer.

What’s Next for DOGE?

The agency has made significant changes since D.O.G.E.’s website launched on January 21. Musk’s team will keep working until July 4, 2026, aiming to make the government’s budget smaller, cheaper, and more efficient. 

This final stage of D.O.G.E.’s work will align with the 250th anniversary of the Declaration of Independence. This event would mark a historic moment for America’s future.

Musk has already revolutionized industries like automobiles and space travel. Now, he is trying to change government spending. Whether he succeeds, D.O.G.E. has begun a meaningful conversation about making government money matters clear for everyone.