CleanCore Launches Dogecoin Reserve and Appoints Elon Musk’s Lawyer as Chairman!

Updated

September 5, 2025

Gambar CleanCore Launches Dogecoin Reserve and Appoints Elon Musk’s Lawyer as Chairman!

Jakarta, Pintu News – Nasdaq-listed CleanCore revealed its plans to join Bit Origin as a company managing Dogecoin reserves. The company has just completed a private placement, with plans to use the proceeds to accumulate the biggest meme coin.

In particular, Elon Musk’s lawyer, Alex Spiro, has been instrumental in realizing this initiative and will join the company as chairman of the board of directors.

CleanCore to Launch Dogecoin Reserve After Raising $175 Million in Funds

CleanCore Solutions has revealed their big move into the crypto world by raising $175 million to establish a Dogecoin Reserve. The initiative is backed by the Dogecoin Foundation and its commercial arm, the House of Doge, which places the meme coin at the center of CleanCore’s reserve strategy.

“By making Dogecoin part of a reserve strategy backed by an official foundation, we are creating a precedent for public companies to work with foundations to build real utility around digital currencies,” said Marco Margiotta, CEO of House of Doge and future Chief Investment Officer at CleanCore, via an official press release.

The company raised funds through the private sale of 175 million Pre-Funded Warrants at $1 each. More than 80 investors, including Pantera, GSR, FalconX, MOZAYYX, and Borderless, participated in this round.

Alex Spiro, Elon Musk’s lawyer and longtime Dogecoin ally, has been named Chairman of the Board of Directors. CoinGape previously reported that Spiro was looking to form a Dogecoin Reserve company by raising $200 million, which has now materialized in a deal with CleanCore.

“This new reserve facility is a fundamental step towards institutional adoption of Dogecoin,” added Timothy Stebbing, director of the Dogecoin Foundation and new CleanCore board member.

Building Dogecoin’s Institutional Future

House of Doge and 21Shares, a company that manages $12 billion in assets, will oversee the governance and allocation of Dogecoin’s reserves. Their plans include exploring rewards such as staking for ownership and expanding retail integration to increase real-world utility.

CleanCore CEO Clayton Adams described the move as a planned bet on the future of digital currencies.

“By making Dogecoin our reserve, in collaboration with the Dogecoin Foundation and the House of Doge, we are adopting a reserve strategy that looks to the future while proving how public companies can embrace big changes,” he said.

Dogecoin price is trading flat amid the emergence of this latest reserve company. TradingView data shows that the biggest meme coin is currently trading around $0.21, up less than 1% on September 2.

Meanwhile, Bloomberg analyst Eric Balchunas pointed out the decline in CleanCore shares after the announcement of the launch of the Dogecoin reserve. ZONE shares plunged by 59% and are currently down 50%, trading around $3.38, according to TradingView data.

However, ZONE stock is still up more than 200% in the past six months and 165% since the beginning of the year.

CleanCore Solutions $ZONE is converting to become the first ever Dogecoin Treasury company in partnership with the House of Doge. Stock immediately plummets 59%. What a world. pic.twitter.com/xqHYHXixYu
— Eric Balchunas (@EricBalchunas) September 2, 2025

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