NewsBTC
3 September 2025
13 0

Dogecoin Launches First Foundation-Backed Treasury Valued at $175 Million

Dogecoin supporters established the first official DOGE treasury, raising $175 million to acquire Dogecoin and enhance institutional interest. The fund was created through a private placement of 175,000,420 pre-funded warrants priced at $1 each.

Funding and Structure

  • The total financing reached $175 million.
  • Participation included over 80 institutional and crypto-native investors such as Pantera, GSR, FalconX, Mythos, and Borderless.
  • The offering is projected to close around September 4, 2025, pending regulatory approvals.

CleanCore Solutions partnered with House of Doge for this initiative. Following the announcement, CleanCore's stock dropped approximately 60%, from $6.85 to around $2.69, due to concerns about dilution and market perception of a corporate move centered on a meme token.

Leadership and Governance

  • Alex Spiro, attorney for Elon Musk, will serve as Chairman of the Board at CleanCore.
  • Timothy Stebbing, Director at the Dogecoin Foundation, will join CleanCore’s board.
  • Marco Margiotta, CEO of House of Doge, will act as Chief Investment Officer at CleanCore.
  • 21Shares will advise on governance, capital allocation, and strategy for the treasury.

The initiative aims to transition Dogecoin from a meme currency to an asset usable in corporate reserves and for financial transactions. The treasury plans to purchase DOGE with raised funds, potentially creating institutional-grade products.