Elon Musk’s lawyer Alex Spiro is expected to chair a new public company which aims to raise $ 200 million to invest in Dogecoin, according to a makeshift report invoking six people familiar with the agreement.
The initiative is presented to investors as a Dogecoin cash vehicle (DOGE) with the approval of House of Doge, the business entity launched in early 2025 by the Dogecoin Foundation and whose headquarters are in Miami, Fortune reported on Friday.
The company is looking to raise at least $ 200 million as a public vehicle to hold Dogecoin to its balance sheet, giving an exposure to investors of the scholarship market to the token without direct property.
The effort remains at the pitch stadium, with details on its structure or a launching calendar not yet disclosed.
Spiro, a partner of Quinn Emanuel Urquhart and Sullivan who represented high-level customers, notably Elon Musk, Jay-Z and Alec Baldwin, was appointed in investors and conversations as the planned president of the entity.
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Dogecoin cash companies grow up
This year has seen a wave of listed companies Rebrands as cryptographic cash companies, raising funds to buy and have digital assets on their balance sheets. While Dogecoin (Doge), a same created in 2013, is much less adopted than Bitcoin (BTC) or ether (ETH), he drew some dedicated donors.
In February 2025, Neptune’s digital assets, based in Vancouver, revealed the acquisition of 1 million Dogecoin via a strategic derivative purchase at an average price of $ 0.37 per token, adding to its increasing cryptographic operations. He also bought 20 bitcoin, strengthening his diversified asset strategy.
In July, the company listed at the Nasdaq Bit Origin announced that it had obtained up to $ 500 million in indebted and stock funding to build its Dogey Treasury. This decision made it the first company negotiated in the United States to openly plan that Dogecoin is its main assessment assets.
Musk’s electric car company, Tesla, has also disclosed Dogecoin Holdings, although he has never specified the size of his position. The company began to accept DOGE for certain goods purchases at the beginning of 2022.
Musk has a long story with Dogecoin. In 2019, he posted that Dogecoin “could be my favorite cryptocurrency”, a remark that pushed the token in the big titles.
In May 2021, Musk hosted Saturday Night Live And jokingly, Dogecoin was a “stampede”, sending the price highly lower after weeks of media threshing that had helped drive the room to a record level.
His messages on the same have been events that mobilize the market, which prompted investors and regulators to examine its influence.
In 2022, he was prosecuted by investors who allegedly allegedly manipulated the Dogecoin market. This case was rejected at the end of 2024, Alex Spiro leading the defense.
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