CleanCore Solutions, a U.S.-based manufacturer of ozonated water cleaning systems, announced that it will raise $175 million through a public private equity investment (PIPE) to build the world's first official Dogecoin treasury sponsored by the Dogecoin Foundation. (Synopsis: Grayscale has applied to the SEC for Dogecoin spot ETF, throwing meme shock bombs) (Background added: Dogecoin is dangerous!) Qubic paralyzed Monroe's "community voted Dogecoin", and decentralization collapsed completely? CleanCore Solutions (ticker: ZONE), a U.S.-based manufacturer of ozonated water cleaning systems, announced on September 2 that it will raise $175 million through a public private equity investment (PIPE) to build the world's first official Dogecoin treasury sponsored by the Dogecoin Foundation. Musk's lawyer becomes chairman of CleanCore Solutions According to official statements, the Dogecoin treasury plan has two notable features. First of all, it is the only official Dogecoin treasury in the world sponsored by the Dogecoin Foundation, with the full support of the Dogecoin Foundation and its commercial arm, House of Doge, to promote the institutional adoption of Dogecoin and transform it from a memecoin to a digital asset with actual payment, tokenization, and daily use value. Second, renowned lawyer Alex Spiro will immediately become chairman of CleanCore Solutions' board of directors and will lead the implementation of this strategy. In fact, last week, Fortune magazine reported that Alex Spiro was about to become chairman of a Dogecoin treasury, and now CleanCore Solutions' announcement officially confirms this news. Alex Spiro has a big start: Now a partner in the New York office of Quinn Emanuel Urquhart & Sullivan law firm, he has advised celebrities such as Tesla founder Elon Musk and rapper Jay-Z. His ties to Dogecoin date back to 2022, when investors filed a lawsuit against Musk, accusing him of manipulating the Dogecoin market through tweets and public remarks, causing price volatility and causing losses to investors. As Musk's defense lawyer, Spiro successfully got the case dismissed by the court at the end of 2024 on the grounds that there was insufficient evidence for the allegations. This background has given Spiro some influence in the Dogecoin community and the cryptocurrency space, and his appointment as chairman of the board has been interpreted as a major step by CleanCore Solutions to strengthen the credibility of the Dogecoin treasury. CleanCore Solutions Stock Price Performance However, CleanCore Solutions' transformation initiative has not received an enthusiastic response from the market. According to Google Finance data, on the day of the announcement of the establishment of the Dogecoin treasury, the share price of CleanCore Solutions fell sharply, from $6.86 to $2.91, and the market value shrank to about $40 million, down as much as 54% in the past 5 days. Is it difficult for a Dogecoin treasury strategy to succeed? In fact, CleanCore Solutions isn't the only company experimenting with Dogecoin as a reserve asset in 2025. According to public information, there are other publicly listed companies that have announced similar Dogecoin treasury strategies, but the overall market has not performed well, for example, Dogecoin Cash, a former cannabis and telemedicine company, bought 1 billion Dogecoin in July 2025 through its subsidiary Dogecoin Treasury, but its stock was not incentivized, falling from $0.04 in July to $0.028 currently. In this context, some analysts believe that Dogecoin's inflation mechanism and the nature of relying on social media sentiment make it difficult to become a stable corporate reserve asset, unlike cryptocurrencies such as Bitcoin and Ethereum, listed companies choose volatile meme coins as asset reserves, I am afraid it is difficult to succeed. Related Stories BNB vs. SOL Reserve Company: Asia and Wall Street in the United States each side? Microstrategy plunged 17% in August, when the "bitcoin position premium" disappeared, BTC reserve leader MSTR faced a test Nakiki SE plans to raise tens of millions of euros to buy bitcoin, aiming to become Germany's first pure BTC reserve listed company (Musk lawyers at the helm! CleanCore announced the establishment of a $175 million Dogecoin treasury, but the stock price was cut down" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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Elon Musk's lawyer at the helm! CleanCore announces the establishment of a $175 million DOGE treasury, but the stock price suffers a 50% Slump.
CleanCore Solutions, a U.S.-based manufacturer of ozonated water cleaning systems, announced that it will raise $175 million through a public private equity investment (PIPE) to build the world's first official Dogecoin treasury sponsored by the Dogecoin Foundation. (Synopsis: Grayscale has applied to the SEC for Dogecoin spot ETF, throwing meme shock bombs) (Background added: Dogecoin is dangerous!) Qubic paralyzed Monroe's "community voted Dogecoin", and decentralization collapsed completely? CleanCore Solutions (ticker: ZONE), a U.S.-based manufacturer of ozonated water cleaning systems, announced on September 2 that it will raise $175 million through a public private equity investment (PIPE) to build the world's first official Dogecoin treasury sponsored by the Dogecoin Foundation. Musk's lawyer becomes chairman of CleanCore Solutions According to official statements, the Dogecoin treasury plan has two notable features. First of all, it is the only official Dogecoin treasury in the world sponsored by the Dogecoin Foundation, with the full support of the Dogecoin Foundation and its commercial arm, House of Doge, to promote the institutional adoption of Dogecoin and transform it from a memecoin to a digital asset with actual payment, tokenization, and daily use value. Second, renowned lawyer Alex Spiro will immediately become chairman of CleanCore Solutions' board of directors and will lead the implementation of this strategy. In fact, last week, Fortune magazine reported that Alex Spiro was about to become chairman of a Dogecoin treasury, and now CleanCore Solutions' announcement officially confirms this news. Alex Spiro has a big start: Now a partner in the New York office of Quinn Emanuel Urquhart & Sullivan law firm, he has advised celebrities such as Tesla founder Elon Musk and rapper Jay-Z. His ties to Dogecoin date back to 2022, when investors filed a lawsuit against Musk, accusing him of manipulating the Dogecoin market through tweets and public remarks, causing price volatility and causing losses to investors. As Musk's defense lawyer, Spiro successfully got the case dismissed by the court at the end of 2024 on the grounds that there was insufficient evidence for the allegations. This background has given Spiro some influence in the Dogecoin community and the cryptocurrency space, and his appointment as chairman of the board has been interpreted as a major step by CleanCore Solutions to strengthen the credibility of the Dogecoin treasury. CleanCore Solutions Stock Price Performance However, CleanCore Solutions' transformation initiative has not received an enthusiastic response from the market. According to Google Finance data, on the day of the announcement of the establishment of the Dogecoin treasury, the share price of CleanCore Solutions fell sharply, from $6.86 to $2.91, and the market value shrank to about $40 million, down as much as 54% in the past 5 days. Is it difficult for a Dogecoin treasury strategy to succeed? In fact, CleanCore Solutions isn't the only company experimenting with Dogecoin as a reserve asset in 2025. According to public information, there are other publicly listed companies that have announced similar Dogecoin treasury strategies, but the overall market has not performed well, for example, Dogecoin Cash, a former cannabis and telemedicine company, bought 1 billion Dogecoin in July 2025 through its subsidiary Dogecoin Treasury, but its stock was not incentivized, falling from $0.04 in July to $0.028 currently. In this context, some analysts believe that Dogecoin's inflation mechanism and the nature of relying on social media sentiment make it difficult to become a stable corporate reserve asset, unlike cryptocurrencies such as Bitcoin and Ethereum, listed companies choose volatile meme coins as asset reserves, I am afraid it is difficult to succeed. Related Stories BNB vs. SOL Reserve Company: Asia and Wall Street in the United States each side? Microstrategy plunged 17% in August, when the "bitcoin position premium" disappeared, BTC reserve leader MSTR faced a test Nakiki SE plans to raise tens of millions of euros to buy bitcoin, aiming to become Germany's first pure BTC reserve listed company (Musk lawyers at the helm! CleanCore announced the establishment of a $175 million Dogecoin treasury, but the stock price was cut down" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".