According to the most recent report, outstanding authorized legal professional Alex Spiro has been listed because the chairman of a brand new digital asset treasury agency that goals to boost $200 million to spend money on Dogecoin.
What Elon Musk Knows About The Dogecoin Treasury?
In an August 29 report, Fortune revealed that Alex Spiro, a lawyer who has represented standard figures like Elon Musk, Jay-Z, and Alec Baldwin, is about to chair a public firm seeking to spend money on Dogecoin. According to unnamed sources, this digital asset treasury intends to boost a minimum of $200 million to buy the biggest meme coin by market capitalization.
The initiative is being pitched to buyers as a Dogecoin public automobile with the endorsement of House of Doge to be able to increase its legitimacy. House of Doge, launched in early 2025 by the Dogecoin Foundation, is the official company entity behind the meme coin, burdened with its growth and promotion.
The Fortune report revealed that the Dogecoin treasury remains to be on the pitch stage and didn’t present any particulars on the construction or potential launch date of the general public automobile. While his private lawyer Spiro has been listed as chairman of the general public firm in an investor pitch, there was no indication of Musk’s potential position within the initiative.
It is value noting that Musk has been a vocal supporter of DOGE way back to 2019, claiming the meme coin to be his favourite cryptocurrency. Showing his help for the meme token, the world’s richest man designed a DOGE-only cost system for his electrical automobile firm, Tesla.
Musk’s posts about Dogecoin have all the time brought on the token’s worth to maneuver, resulting in a scrutiny of his market affect by buyers and the crypto neighborhood. In 2022, the Tesla founder was defended in court docket by Spiro after buyers sued him for allegedly manipulating the market.
As of this writing, the value of DOGE stands at round $0.2134, reflecting an over 3% decline previously 24 hours. The meme coin is down by practically 10% within the final seven days.
Crypto Treasury Firms Taking Center Stage?
Crypto treasury companies have continued to realize recognition within the digital asset business in 2025, with new public automobiles popping up over the previous few months. These publicly-traded firms maintain digital belongings on their books, providing their shareholders publicity to the crypto belongings with out straight proudly owning them.
In July 2025, Bit Origin revealed that it had raised round $500 million in loans and fairness to construct its DOGE treasury. This initiative made it the primary publicly traded firm within the United States to brazenly make Dogecoin the core asset on its steadiness sheet.
The worth of DOGE on the each day timeframe | Source: DOGEUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
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