Elon Musk’s longtime legal professional, Alex Spiro, is ready to chair a brand new publicly traded firm that goals to increase $200 million to construct a Dogecoin treasury, in accordance to a Fortune report citing a number of sources aware of the matter.
Key Takeaways:
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Elon Musk’s lawyer Alex Spiro will chair a brand new $200M public firm aimed toward constructing a Dogecoin treasury.
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The enterprise, backed by the Dogecoin Basis’s Home of Doge, gives DOGE publicity with out direct token possession.
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It joins a rising listing of companies including Dogecoin to company stability sheets amid rising institutional curiosity.
The enterprise is being pitched to buyers as a devoted Dogecoin holding automobile backed by the Home of Doge, the company entity created by the Dogecoin Basis in early 2025.
Headquartered in Miami, Home of Doge has emerged because the central drive in institutionalizing the memecoin.
The corporate plans to provide stock-market publicity to Dogecoin with out requiring direct token possession from buyers.
Whereas nonetheless within the pitch section, investor supplies title Spiro, companion at Quinn Emanuel Urquhart & Sullivan and Musk’s authorized consultant in a number of high-profile circumstances, because the incoming chairman.
This improvement comes amid a wave of companies rebranding as crypto treasury corporations, elevating capital to purchase digital property.
Dogecoin, initially launched in 2013 as a joke, has progressively discovered a foothold amongst a small however rising group of company backers.
In February, Vancouver-based Neptune Digital Property disclosed a 1 million DOGE buy at a median worth of $0.37.
The agency additionally holds Bitcoin and has expanded its treasury by means of derivatives. In the meantime, Nasdaq-listed Bit Origin revealed plans in July to increase $500 million in financing to construct its DOGE-focused stability sheet, changing into the primary US-listed firm to accomplish that.
Tesla, the electrical automobile firm chaired by Musk, has additionally acknowledged Dogecoin holdings and accepts the token for choose merchandise purchases.
Whereas Tesla hasn’t disclosed the scale of its DOGE reserves, its public endorsement has lengthy been thought-about a key catalyst for the token’s reputation.
Musk’s relationship with Dogecoin has been each promotional and controversial. A 2019 tweet calling Dogecoin his “fav cryptocurrency” helped propel the coin into mainstream visibility.
In 2021, his Saturday Evening Stay look, the place he known as Dogecoin a “hustle,” triggered a steep worth drop after a hype-fueled rally.
Spiro defended Musk in a 2022 lawsuit alleging Dogecoin market manipulation. That lawsuit was dismissed in 2024.
