Dogecoin: Musk lawyer launches DOGE treasury

INFBusiness
03.09.2025
News

The commercial arm of the Dogecoin Foundation, House of Doge, is partnering with publicly traded cleaning company CleanCore Solutions to establish a treasury for the memecoin. Elon Musk's personal lawyer, Alex Spiro, will become the company's chairman.
As part of the partnership, CleanCore (ZONE) has entered into a $175 million private placement (PIPE) securities purchase agreement. House of Doge and the financial institution 21Shares will advise the company going forward.
“This is the first foundation-backed treasury strategy for Dogecoin, and it's designed to do more than just hold DOGE,” said Marco Margiotta, CEO of House of Doge and newly appointed CIO of CleanCore. He added that staking-like yield opportunities will also be explored.
“This foundation will help build trust among investors, Dogecoin holders, exchanges, and companies that might integrate Dogecoin for payments or tokenization,” Margiotta said.
ZONE's stock fell nearly 53 percent to $3.23 by the close on Tuesday. However, it's still up 145 percent year-to-date.
Tesla founder Elon Musk has been closely associated with Dogecoin for years. The controversial entrepreneur's social media posts have regularly caused DOGE price surges.
Dogecoin holders subsequently filed a $258 billion lawsuit alleging that Musk intentionally manipulated the market. Spiro defended Musk in the case, which was dropped last November.
House of Doge was founded to promote global adoption of the dog token, originally conceived as a mere joke. The company previously helped place the coin's iconic Shiba Inu mascot on an Indy 500 race car.
The DOGE price barely reacted to the news, rising by only around 1.3 percent over the past 24 hours.

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