The First Official Step for Dogecoin (DOGE) for $175 Million Has Been Taken! 'There's an Elon Musk Detail Too!'

As the corporate treasury strategy towards altcoins continues to grow, the latest news comes for Dogecoin (DOGE).

Accordingly, a company called CleanCore Solutions has formed a strategic partnership with House of Doge, the corporate arm of the Dogecoin Foundation, to create a Dogecoin treasury.

In this context, the first and only official Dogecoin Treasury supported by the Dogecoin Foundation will be established.

“DOGE will serve as the Company's primary treasury reserve asset.”

CleanCore Solutions announced it has raised $175 million in funding, backed by over 80 institutional and crypto investors, including Pantera, GSR, FalconX, and Borderless.

The proceeds from this funding round will be used to purchase Dogecoin.

Alex Spiro, Elon Musk's personal lawyer, will be the chairman of CleanCore's board of directors.

As part of the agreement, Dogecoin Foundation Director Timothy Stebbing and House of Doge CEO Marco Margiotta will take on board and executive roles at CleanCore.

House of Doge will provide support and advisory services to the treasury alongside 21Shares, the world’s largest crypto ETP issuer with experience in creating institutional-focused crypto investment products.

Together, House of Doge and 21Shares will oversee the strategic allocation, yield opportunities, and corporate governance of the official Dogecoin Treasury, ensuring transparency and routine reporting in line with corporate standards.

“By backing Dogecoin with a formal foundation-backed treasury strategy, we are setting a precedent for how public companies can align with foundations to build real utility around digital currency,” House of Doge CEO Marco Margiotta said in a statement.

Shares of CleanCore Solutions fell over 60% after announcing plans to become a Dogecoin treasury company.

*This is not investment advice.

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