CleanCore Solutions said on Sept. 2 it secured a $175 million private placement to build a corporate treasury focused on Dogecoin (DOGE). The financing sold 175 million pre-funded warrants at $1 each, with more than 80 investors participating, including Pantera, GSR and FalconX. Proceeds will be used to acquire DOGE for the company treasury and to support operations. The offering is expected to close Sept. 4, pending regulatory approvals.
The company’s stock plunged about 60% after the announcement, signaling investor concern about committing corporate capital to a highly volatile memecoin. CleanCore said the plan is supported by the Dogecoin Foundation and its corporate arm, House of Doge.
Alongside the financing, CleanCore named high-profile attorney Alex Spiro as chairman of the board effective immediately. Dogecoin Foundation director Timothy Stebbing joined the board and Marco Margiotta, CEO of House of Doge, will serve as chief investment officer. The company said House of Doge and digital-asset manager 21Shares will advise CleanCore on treasury strategy and management.
This move follows a growing trend of public firms raising capital to accumulate crypto reserves — most often bitcoin or ether — but CleanCore’s choice to anchor reserves in DOGE highlights a shift toward smaller, more volatile altcoins. CleanCore also said it may pursue staking-like or exchange-based yield features to generate returns on its holdings.
Why it matters: making DOGE a primary treasury asset raises both price and regulatory risk for shareholders. The stock reaction underscores market skepticism, and the transaction remains subject to regulatory approvals. Investors should note that memecoins can produce outsized gains or losses and that treasury strategies concentrated in a single, high-volatility token can increase corporate financial risk.
Source: CleanCore investor release. Read the original coverage for full details.