Automotive and Transportation Automotive and Transportation

Elon Musk's DOGE agency is at the centre of controversy in the US. So what is it?


Published on 2025-02-15 22:20:38 - rnz
  Print publication without navigation

  • Elon Musk's DOGE has been making global headlines recently, but, what is this new agency - so why has the world's richest person decided to centre himself in US politics?

Elon Musk's involvement with Dogecoin, a cryptocurrency he has frequently promoted on social media, has led to significant controversy in the United States. Musk's actions, including tweeting about Dogecoin and changing Twitter's logo to the Dogecoin symbol, have been scrutinized in a class-action lawsuit filed by Dogecoin investors. The lawsuit accuses Musk of running a "pyramid scheme" to artificially inflate Dogecoin's value, from which he allegedly profited over $95 million. This legal action highlights the broader implications of influential figures like Musk engaging with cryptocurrencies, raising questions about market manipulation and the regulatory oversight of digital currencies. The case underscores the tension between the decentralized ethos of cryptocurrencies and the potential for manipulation by high-profile individuals.

Read the Full rnz Article at:
[ https://www.rnz.co.nz/news/on-the-inside/542018/elon-musk-s-doge-agency-is-at-the-centre-of-controversy-in-the-us-so-what-is-it ]