CleanCore Solutions has partnered with House of Doge to create the first official Dogecoin treasury with a fundraising size of up to $175 million.
CleanCore and House of Doge Launch $175 Million Dogecoin Treasury
CleanCore Solutions (Nasdaq: ZONE) announced on September 2 that it has partnered with House of Doge , the legal entity representing Dogecoin (Doge) , to conduct a PIPE offering that is expected to raise approximately $175 million. The proceeds will be used to purchase Dogecoin and make Doge the company’s primary treasury reserve asset.
House of Doge, Dogecoin Foundation & CleanCore Solutions (NYSEAM: ZONE) launch 175M Dogecoin Treasury. https://t.co/XMQGQqLZec
— Dogecoin Foundation (@DogecoinFdn) September 2, 2025
Why is this news important?
- This is the first official Dogecoin treasury sponsored by the Dogecoin Foundation.
- The event marks Dogecoin moving beyond memecoin to become an official institutional reserve asset.
- Not only does this set a precedent for Doge , it could also spur a similar trend with other memecoins, turning them into strategic treasury assets.
Key figures involved
- Alex Spiro , Elon Musk's personal attorney, serves as Chairman of the Board of Directors of CleanCore.
- Timothy Stebbing, Director at the Dogecoin Foundation and CTO of House of Doge, joins the CleanCore Board of Directors.
- Marco Margiotta, CEO of House of Doge, becomes CIO (Chief Investment Officer) at CleanCore.
- 21Shares – the world’s largest crypto ETP issuer with over $12 billion AUM – will Vai as custodian and advisory partner.
- Over 80 institutional and crypto investors participated, including MOZAYYX, Pantera, GSR, FalconX, Borderless, Mythos and Serrur & Co. LLC.
- In addition, having his personal lawyer take the lead Vai leaves Elon Musk’s involvement with the project unclear. The billionaire may be trying to keep his distance, especially since he has been sued multiple times for allegedly promoting Dogecoin too much.
Upcoming itinerary
- Closing date: expected September 4, 2025, subject to additional listing conditions from NYSE American.
- The Capital raised are not only for the purpose of accumulating Doge, but are also allocated for working Capital and general business needs.
- CleanCore and House of Doge said they are working with several major exchanges to implement a Staking like reward mechanism and generate additional yield for the Doge in the treasury.
CleanCore CEO Clayton Adams emphasized:
“By using Dogecoin as the foundation for our treasury, we want to show how a public company can innovate and set a new standard for a foundation-backed digital treasury.”
DAT Altcoin Wave
- In July 2025, Bit Origin (BTOG) became the first listed company to purchase 40.5 million Doge to create its own treasury. In parallel, Grayscale is also in the process of applying for approval for a Dogecoin ETF. These moves show that Dogecoin is gradually entering the traditional financial market, paving the way for huge institutional Capital flows.
- However, experts still warn that if too many companies rely on crypto fluctuations to "inflate" their value, DAT could turn into a new systemic risk , a "time bomb", easily exploited to "escape" or inflate prices.
- However, it is undeniable that crypto is increasingly intertwined with traditional Capital markets, and DAT can become both a growth lever and a financial defense tool for businesses during volatile times.
Evidence
- Immediately after this news was announced, ZONE stock reacted negatively, falling more than 52.7 % to $3.2.
- Doge price also did not record too much fluctuation, increasing slightly by 1.5% in the past 24 hours, currently fluctuating around $0.21.
ZONE stock price movement in the last 24 hours, screenshot on Google Finance at 08:40 AM on 03/09/2025
Doge price movement in the last 24 hours, screenshot on CoinGecko at 8:40 AM on 03/09/2025
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