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3w ago

CleanCore Launches $175 Million Dogecoin Treasury Backed by Dogecoin Foundation

The offering awaits a planned Sept. 4 close, with shares down roughly 50%–60% on the news.

Cleancore in $175m deal to establish a dogecoin treasury; shares tumble 60%
Elon Musk's lawyer part of $175 mln Dogecoin treasury - But it's not helping DOGE
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Overview

  • The financing consists of 175,000,420 pre‑funded warrants at $1 each, drawing participation from more than 80 backers including Pantera, GSR, FalconX and Borderless.
  • House of Doge and 21Shares will advise on allocation, governance and institutional‑grade reporting for the new treasury.
  • Alex Spiro was named chairman of CleanCore, with Dogecoin Foundation director Timothy Stebbing joining the board and House of Doge CEO Marco Margiotta becoming chief investment officer.
  • Proceeds will be used to purchase DOGE for the company’s treasury and support operations, with plans to explore staking‑like rewards through exchange integrations.
  • CleanCore’s stock fell roughly 50%–60% after the announcement, while DOGE traded near $0.21, and the PIPE remains subject to closing and regulatory approvals expected around Sept. 4.