Elon Musk’s lawyer, Alex Spiro, will preside over a new public company that aims to raise $ 200 million to invest in Dogecoin, according to a fortune report that quotes six people familiar with the agreement.
The initiative is throwing investors as a Dogecoin (Doge) treasure veh reported Friday.
The company seeks to raise at least $ 200 million as a public vehicle to maintain Dogecoin in its general balance, which provides investors to exposure to the market shares to the token without direct property.
The effort remains in the launch stage, with details about its structure or launch time has not yet been revealed.
Spiro, a quinn partner Emanuel Urquhart and Sullivan who has represented high profile clients, including Elon Musk, Jay-Z and Alec Baldwin, have been appointed in materials and conversations of investors such as the planned president of the entity.
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Dogecoin Treasury companies are growing
This year has seen an increase in companies that are quoted in the stock market rename as cryptographic treasury companies, collecting funds to buy and maintain digital assets in their balances. While Dogecoin (Doge), a memory created in 2013, is much less widely adopted than Bitcoin (BTC) or Ether (ETH), has attracted some dedicated sponsors.
In February 2025, Neptune Digital Assets, based in Vancouver, revealed the acquisition of 1 million Dogecoin through a strategic derivative purchase at an average price of $ 0.37 per Token, which adds to its growing cryptographic holdings. He also bought 20 bitcoin, reinforcing his diversified asset strategy.
In July, the Bit Origin company, which is quoted at Nasdaq, announced that it had assured up to $ 500 million in debt and capital financing to build its Dux Treasury. The measure caused the first company quoted in the United States to plan openly so that Dogecoin is its central asset of the balance sheet.
The Musk electric car company, Tesla, has also revealed Dogecoin Holdings, although it has never specified its position size. The firm began accepting Doge for select purchases of goods in early 2022.
Musk has a long history with Dogecoin. In 2019, he published that Dogecoin “could be my favorite cryptocurrency”, a comment that pushed the tokens to the headlines.
In May 2021, musk was the host Saturday Night Live And in a joke he called Dogecoin a “hustle”, sending the very low price after weeks of hype that had helped take the currency to a historical maximum.
His publications about Memecoin have been events that move in the market, causing investors and regulators to analyze their influence.
In 2022, he was sued by investors who alleged that he manipulated the Dogecoin market. That case was dismissed at the end of 2024, with Alex Spiro leading the defense.
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