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- 🌕 Gate Square · Mid-Autumn Creator Incentive Program is Live!
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The Dogecoin Foundation will create a treasury of $175 million to purchase DOGE.
The official corporate structure of the Dogecoin Foundation — the company House of Doge Inc. — announced the establishment of an official treasury for the meme coin. The total investment amount for purchasing DOGE will be around $175 million.
A reserve will be created in partnership with CleanCore Solutions. The project will also be managed by 21Shares — a crypto-ETF issuer with over $12 billion in assets under management. The companies will engage in fund distribution, investment opportunities, and corporate governance.
To finance the initiative, CleanCore will issue shares worth $175 million. All proceeds will be directed towards the acquisition of DOGE.
"By creating infrastructure for institutional investments together with 21Shares, we are laying the groundwork for the recognition of Dogecoin as a serious currency, beyond its meme origins," noted House of Doge CEO Marco Margiotta.
Alex Spiro, Elon Musk's personal attorney, will take over as the chairman of the board of CleanCore.
The first company with a corporate DOGE reserve was Bit Origin, which announced on July 17 the attraction of $500 million in investments in Dogecoin.
The meme coin's price did not react to the news. Over the last 24 hours, its price has decreased by 2.6%.