Elon Musk’s lawyer Alex Spiro, has been appointed president of a new digital treasure Asset Digecoin (Doge) that seeks to raise at least $ 200 million, according to a fortune report on Friday that cited people familiar with the matter.
The initiative, currently launched to investors, would create a company that is quoted in the stock market designed to accumulate Dogecoin in its balance sheet. Investors closely observe if the initiative could act as a catalyst for the appreciation of Dogecoin prices.
Treasury effort of the currency of celebrity lawyer
Spiro, a member of Quinn Emanuel Urquhart & Sullivan, has been identified in investor materials as the planned president of the new entity. He has represented Musk in numerous high profile cases and previously worked with famous clients such as Jay-Z and Alec Baldwin.
The Doge project, backed by House of Dege and launched in early 2025, is marketed as the next important impulse for the adoption of conventional Dogoin. Although it aims to raise $ 200 million, Doge’s treasure has not yet revealed details about its launch date or strategy.
Meanwhile, Dogecoin quoted at $ 0.214 on Friday, 4.8% less than the previous 24 hours. That price represents a decrease of approximately 52% from the maximum of one year of $ 0.446.
Dogecoin has remained in rank since mid -March, fluctuating between $ 0.15 and $ 0.25.
Doge Treasury companies emerge, but they fight with performance
The emergence of corporate treasure bonds centered on tokens has become one of the largest cryptographic phenomena in 2025. Several companies that quote in Nasdaq have renamed or changed their business models to accumulate cryptocurrencies such as Solana, Sui, Toncoin and Worly Liberty Financial Wlfi Wlfi Token.
Michael Saylor Microstrategy remains the most prominent DAT, with almost $ 70 billion in Bitcoin Holdings. The model has inspired other companies to do the same.
Dogecoin’s specific efforts are beginning to arise. In July 2025, Bit Origin, on the Nasdaq list, announced that it had assured up to $ 500 million in capital and debt financing to launch a Dogecoin corporate treasure.
At the beginning of the year, Neptune Digital Assets, based in Vancouver, acquired 1 million Dogecoin through a purchase of strategic derivative at an average of $ 0.37 per Token, together with 20 bitcoin to diversify its portfolio.
However, the performance of the shares of these companies has so far remained weak. Bit Origin shares (BTOG) rose to a peak of $ 1 on July 18, but had fallen to $ 0.39 at the end of August 29.
Neptune Digital Assets (Ticker Nda) lists in the TSX Venture Exchange in Canada, and also trades internationally through OTC (NPPTF Ticker) and Xetra Exchange of Frankfurt (Ticker 1NW).
The shares that quote in Canada (NDA • CVE) of the company reached a peak of C $ 2.78 earlier this year. But since February, the price fell around 62%.
Quiet Musk ‘Dogefather’ maintains Doge’s distance
Elon Musk, often referred to by followers as the “Dogefather”, has long associated with Dogecoin. His public comments have historically moved the price of the file.
Recently, however, he has not made significant statements about Dogecoin itself. Instead, he continues to describe his vision of transforming X into a super application with integrated payments.
Investors are watching closely, and many expect Dogecoin to play a role in those future plans.
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