President-elect Donald Trump has tapped Elon Musk and Vivek Ramaswamy to head what he’s calling the “Department of Government Efficiency” (DOGE) — an acronym that is an apparent wink to the dog-themed cryptocurrency by the same name that started as a joke and skyrocketed after Musk promoted it.

Trump made the announcement in a statement Tuesday evening, indicating DOGE and its leadership, Musk and Ramaswamy, will focus on regulating government spending.