The Dogecoin Foundation’s commercial arm, House of Doge, has partnered with publicly traded CleanCore Solutions (ZONE) to establish what they call the first official Dogecoin (DOGE) treasury. Alex Spiro, known as Elon Musk’s attorney, will serve as CleanCore’s chairman as part of the initiative.
Under the deal CleanCore agreed to a securities purchase agreement for a $175 million private investment in public equity (PIPE) to back the treasury. Institutional firms including Pantera, GSR and FalconX participated, with advisory support from House of Doge and 21Shares.
House of Doge says the treasury will go beyond custody: it aims to enable formal governance, institutional-grade reporting and the “exploration of staking-like yield opportunities,” according to CEO Marco Margiotta, who will also be CleanCore’s CIO. Timothy Stebbing, CTO of House of Doge and a Dogecoin Foundation director, joins the CleanCore board.
The market reacted sharply: CleanCore shares plunged nearly 53% to $3.23 on the announcement, though the stock is still up about 145% year-to-date. DOGE’s price was essentially flat on the day—down roughly 0.1% in 24 hours but up about 117% over the past year and still some 71% below its 2021 high.
Why it matters: placing a foundation-backed DOGE treasury in a public company could help attract institutional partners and merchant integrations, but it also links the token’s fortunes to corporate finance events and investor sentiment.
Risk note: investors should consider market volatility in both equities and crypto, potential governance complexities, and that promotional language like “official” may not change intrinsic token risk.
Source: Decrypt. Read the original coverage for full details.
