Dogecoin has its first official treasury worth 175 million USD

On September 2nd, CleanCore Solutions (Nasdaq: ZONE) announced a partnership with House of Doge to establish the first official Dogecoin treasury, with plans to raise 175 million USD. This capital will be used to purchase $DOGE , making Dogecoin a strategic reserve asset for the company.

This is an important milestone, marking Dogecoin's gradual escape from the image of "memecoin" to become a part of the traditional financial system. The project involves several prominent figures:

Alex Spiro (lawyer for Elon Musk) serves as Chairman of the Board #CleanCore .

Timothy Stebbing (Dogecoin Foundation) participates in the Board.

Marco Margiotta (CEO House of Doge) becomes CIO of CleanCore.

21Shares – the world’s largest crypto ETP management organization – acts as a supervisory partner.

This treasury is sponsored by the Dogecoin Foundation, setting a precedent for memecoins to become strategic treasury assets. More than 80 institutional investors have participated, including Pantera, GSR, and FalconX.

This event occurs amid many large companies and funds, such as Bit Origin and Grayscale, also pushing for DOGE-related products. Despite concerns about risks, this move shows that #Dogecoin‬⁩ is getting closer to institutional capital and the global financial market.

⛔ Risk warning: The cryptocurrency market is highly volatile; Dogecoin, even when included in an official treasury, still carries many risks. Investors need to carefully consider before participating.