Faint hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dented on Sunday as the department’s figurehead Elon Musk squashed any plans of adding the memecoin.

«There are no plans for the government to use dogecoin or anything,” Musk said during a speech at the America PAC town hall in Green Bay, Wisconsin.

“I was going to call it Government Efficiency Commission, but that’s a super boring name. Then the internet said it needs to be the Department of Government Efficiency. I was like Internet is right,” he added.

DOGE prices are down 3.5% in the past 24 hours, in line with a broader market drop. While there have been no firm plans to include the token in the controversial non-governmental agency, its introduction in August had sparked several namesake tokens and birthed the start of a multi-month rally in dogecoin.

The official site even sported a dogecoin logo for a few hours on the day after Trump’s inauguration, giving more credence to rumors of the joke token playing a role in the new agency.

D.O.G.E seeks to make government spending of taxpayer money more efficient while streamlining departments that handle spending. It has saved an estimated $130 billion after a formal start in January, data shows, with an average $840 saving for taxpayers.

Bitcoin (BTC) traders just over $81,500 in Asian morning hours Monday as a weekend slide saw major tokens lose momentum on last week’s brief rally.

XRP and Cardano’s ADA led losses among majors with a 5% drop in the past 24 hours, with Solana’s SOL, dogecoin (DOGE) and ether (ETH) down between 2-3%.

The CoinDesk 20, a measure of the performance of the largest digital assets, is down 2.6%

Weekly inflows to the BTC ETF finished last week at $196 million, according to SoSoValue, while ETH ETFs had a net outflow of just over $8 million.

Stock markets opened lower Monday, their fourth consecutive day of decline, as investors around the globe brace for President Donald Trump’s upcoming announcement of new tariffs, set to be revealed on April 2, amid growing fears of a global trade war’s economic fallout.

Hong Kong’s Hang Seng index was down 1.7% in the morning session, while the Nikkei 225 was down 3.8%, and Korea’s KOPSI index in the red by 3% as export-heavy economies worry about market access to the U.S.

Futures for U.S. and European stock indexes also fell. In contrast, safe-haven assets like gold reached an all-time high, and U.S. Treasury yields dropped due to increased demand.

Globally, portfolio managers are adopting cautious strategies, either reducing risk or avoiding large investments, unsettled by the impending «reciprocal tariffs» and their potential economic toll.

Elsewhere in crypto, data from Tokenomist.ai shows that $751.2 million in unlocks are scheduled this week, including SUI and DYDX, putting the weekly unlock cycle in the middle of the pack. Unlocks are scheduled to pick up in May, when roughly $4.4 billion (at current market prices) in tokens will be unlocked.

Bitcoin is making its way from trading desks to corporate treasuries, and by the end of the decade, it could be standard practice, according to one analyst.

“Across all the different strategies and implementations, I anticipate that by 2030, a quarter of the S&P 500 will have BTC somewhere on their balance sheets as a long-term asset,” Elliot Chun, a partner at Architect Partners, wrote in a market snapshot.

The strategy—holding bitcoin as a treasury reserve asset—was unorthodox when Strategy, formerly known as MicroStrategy, first adopted it in August 2020. The firm framed BTC as a hedge against inflation, a diversification tool, and a way to distinguish itself in the market.

Then CEO Michael Saylor’s highly public embrace of bitcoin transformed the company into a de facto proxy for BTC exposure. Since then, MicroStrategy stock has surged more than 2,000%, far outpacing both the S&P 500 and bitcoin over the same period, Chun pointed out.

GameStop is the latest company to follow suit, announcing this week that it would raise $1.3 billion through a convertible note to acquire bitcoin. Its stock initially surged following the announcement but has since endured a correction, falling nearly 15% for the week.

Chun argued that treasurers may soon face career risk not for buying bitcoin, but for ignoring it altogether. “Doing nothing is no longer a defensible strategy,” he wrote.

According to BitcoinTreasuries data, publicly listed companies currently hold 665,618 BTC, around 3.17% of the cryptocurrency’s total supply. Strategy holds the lion’s share, 506,137 BTC.

Read more: U.S. Listed Firms Continue Bitcoin (BTC) Treasury Adoption