DOGE and USUAL Stablecoin Fake News Unveiled: Trump's Influence

DOGE and USUAL Stablecoin Partnership: What Happened and What’s Next?

Elon Musk Department of Government Efficiency (DOGE) Partners with USUAL?

The announcement earlier today by Vivek Ramaswamy, co-leading the Department of Government Efficiency (DOGE) alongside Elon Musk, caught many by surprise. According to the official X account, DOGE has partnered with USUAL, a notable stablecoin issuer, with the goal of supporting Donald Trump government’s crypto initiatives aimed at reducing the federal fiscal deficit. This partnership signals a significant step towards integrating digital assets into government financial management and promoting efficiency in federal spending. 

However, the post was quickly deleted after it was revealed that Ramaswamy’s X account had been hacked. James Fishback, founder of Invest Azoria, confirmed the hack and noted the partnership was a scam.

False Alarm: DOGE and USUAL Partnership is a Scam 

Minutes after posting, Vivek Ramaswamy’s team deleted the statement about the DOGE and USUAL partnership. James Fishback clarified that Ramaswamy’s account was compromised, leading to the dissemination of false information. 

He stated, “I just spoke with Vivek. He has been hacked. He is locked out of his account. This is a scam.”

This incident highlights the increasing prevalence of hacked accounts promoting scams in the crypto space.

Elon Musk’s Big Government Plans with DOGE  

Elon musk is pushing forward with the Department of Government Efficiency’s mission to reduce federal spending. DOGE’s latest focus is on cutting down the IT budget, which currently spends $100 billion annually on outdated systems. Musk emphasized, “Time to clean up this humongous mess,” signaling his commitment to modernizing government operations. The tech billionaire also suggested that DOGE could be the solution to ending US inflation. Tesla CEO Elon Musk mentioned that “government overspending” is the primary driver of inflationary pressures in the country. He further claimed that “if government waste is stopped, there will be no inflation”.