Elon Musk’s lawyer, Alex Spiro, plans to chair $ 200 million to the Caserie de Dogecoin company

The company plans to raise at least $ 200 million, according to two sources. The details of the structure of the public vehicle or when they were launched were not immediately available.

House of Doge, the official business entity behind the cryptocurrency, would have signed the treasury game as a “official” vehicle from Dogecoin, according to three sources-an approach that cash companies have adopted with the foundations of other cryptocurrencies to stimulate the legitimacy of projects. Launched at the beginning of 2025 by the Dogecoin Foundation and whose headquarters are in Miami, House of Doge is responsible for developing and promoting the popular same.

And Alex Spiro, Musk’s personal lawyer, plans to be president of the public company, according to land sent to a potential investor and five familiar sources with the issue.

It was not clear what role, if necessary, Musk would play in the new entity. A spokesperson for X, Musk’s social media network, did not respond. A spokesperson for House of Doge refused to comment. Spiro did not immediately respond to a request for comments.

Dogecoin is the original “same”-a cryptocurrency that refers to an online joke and has no underlying utility. The value of a same is often linked to its online popularity. Dogecoin refers to a popular meme featuring a photo of an Inu Shiba surrounded by an absurd text, like “So Amate”, in Comic without Font.

Since its launch in 2013, Dogecoin price movements have been increasingly correlated with Musk’s public remarks, which has frequently referred to the same, including during an appearance on Saturday Night Live In 2021. Often, when Musk published on the same or the same, the token jumped price. In fact, the richest man in the world has become so in love with the same Doge that he appointed his government washing initiative after that: the government’s ministry of efficiency, or DOGE.

Musk’s influence on the Dogecoin Prize was so extreme that some investors affirmed in a trial brought in 2022 that he manipulated the markets and cashed sales of the same after having posted on this subject on social networks. Spiro, a lawyer not only of Musk, but other celebrities like Jay-Z and Alec Baldwin, defended the billionaire in court. And in August 2024, Spiro helped win the trial rejection.

“It’s a very good day for Dogecoin,” said Spiro in a statement to several media after the decision.

Crypto Treasury boom

The field to create a Dogecoin cash company with Spiro at the helm is the last in a flood of cryptographic investor plans to convince listed companies to add cryptocurrencies to their balance sheets.

Strategy, a data analysis software company formerly called Microstrategy, was the first to popularize the movement. In 2020, Michael Saylor, co -founder and executive president of the strategy, announced that his business bought Bitcoin and added it to his business treasure. The merchants quickly considered the actions of the company as an indirect indicator of the largest cryptocurrency in the world, and as Bitcoin exploded in the price, the strategous actions have also done so.

The strategy has boomed up to a market capitalization of around $ 96 billion, and copies have since tried to reproduce the financial alchemy of Saylor. Since January, 184 public companies have announced that the purchases of Crypto of a collectively value of nearly $ 132 billion, according to data from architect Partners, an cryptography consulting and financing company.

These purchases include not only Bitcoin, but other cryptocurrencies like Ethereum, Solana and even the cryptocurrency of the Trump family, WLFI.

While supporters of cryptographic treasury bills say that public vehicles give traditional investors an exhibition to the cryptography market, it also opened the door to alleged corporate trades, with experts pointing to probable initiate trading before companies announced cryptographic pivots.