Elon Musk’s longtime legal professional Alex Spiro has been named chairman of a brand new Dogecoin (DOGE) digital asset treasury (DAT) in search of to lift a minimum of $200 million, in accordance with a Fortune report on Friday that cited folks conversant in the matter.
The initiative, at the moment being pitched to traders, would create a publicly traded firm designed to build up Dogecoin on its stability sheet. Buyers are intently watching whether or not the initiative may act as a catalyst for Dogecoin’s worth appreciation.
Movie star Lawyer’s Meme Coin Treasury Effort
Spiro, a associate at Quinn Emanuel Urquhart & Sullivan, has been recognized in investor supplies because the deliberate chairman of the brand new entity. He has represented Musk in quite a few high-profile circumstances and beforehand labored with celeb purchasers resembling Jay-Z and Alec Baldwin.
The Doge venture, backed by Home of Doge and launched in early 2025, is being marketed as the following main push for mainstream Dogecoin adoption. Whereas aiming to lift $200 million, the Doge treasury has but to reveal particulars about its launch date or technique.
In the meantime, Dogecoin traded at $0.214 on Friday, down 4.8% over the prior 24 hours. That worth represents a decline of roughly 52% from the one-year excessive of $0.446.
Dogecoin has remained range-bound since mid-March, fluctuating between $0.15 and $0.25.
Doge Treasury Corporations Emerge, However Battle With Efficiency
The rise of token-focused company treasuries has grow to be one of many greatest crypto phenomenon in 2025. A number of Nasdaq-listed corporations have rebranded or shifted their enterprise fashions to build up cryptocurrencies resembling Solana, SUI, Toncoin, and World Liberty Monetary’s WLFI governance token.
Michael Saylor’s MicroStrategy stays essentially the most outstanding DAT, with practically $70 billion in Bitcoin holdings. The mannequin has impressed different corporations to comply with swimsuit.
Dogecoin-specific efforts are starting to emerge. In July 2025, Nasdaq-listed Bit Origin introduced it had secured as much as $500 million in fairness and debt financing to launch a company Dogecoin treasury.
Earlier within the 12 months, Vancouver-based Neptune Digital Belongings acquired 1 million Dogecoin via a strategic by-product buy at a mean of $0.37 per token, together with 20 Bitcoin to diversify its portfolio.
Nonetheless, the share efficiency of those corporations has to date remained weak. Bit Origin’s inventory (BTOG) climbed to a peak of $1 on July 18 however had fallen to $0.39 by the shut on August 29.
Neptune Digital Belongings (ticker NDA) lists on Canada’s TSX Enterprise Trade, and likewise trades internationally through OTC (ticker NPPTF) and Frankfurt’s Xetra alternate (ticker 1NW).
The corporate’s Canadian-listed shares (NDA • CVE) reached a peak of C$2.78 earlier this 12 months. However since February, the worth fell round 62%.
Quiet ‘Dogefather’ Musk Retains Distance From Doge
Elon Musk, usually referred to by supporters because the “Dogefather,” has lengthy been related to Dogecoin. His public remarks have traditionally moved the token’s worth.
Not too long ago, nevertheless, he has made no vital statements about Dogecoin itself. As an alternative, he continues to stipulate his imaginative and prescient of remodeling X into an excellent app with built-in funds.
Buyers are watching intently, with many anticipating Dogecoin may play a task in these future plans.
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