Dogecoin News Today: CleanCore Bets Big on Dogecoin—Despite 60% Stock Freefall

CleanCore Solutions, a publicly traded company listed on the NYSE American, has announced a $175 million private placement to establish a Dogecoin (DOGE) treasury, marking a significant shift in its corporate strategy. The funding, sourced from over 80 institutional and crypto-native investors, including Pantera, GSR, FalconX, and Borderless, will be used to acquire Dogecoin, which will serve as the primary reserve asset for CleanCore’s treasury operations [1]. This initiative is backed by the Dogecoin Foundation and its commercial arm, House of Doge, with the latter’s CEO, Marco Margiotta, assuming the role of Chief Investment Officer at CleanCore [2].

The restructuring was led by Alex Spiro, a prominent attorney known for representing Elon Musk, who has been appointed as CleanCore’s board chairman. Spiro’s appointment was first reported by Fortune and underscores the growing influence of high-profile legal and investment professionals in shaping crypto-related corporate strategies [3]. The transaction is expected to close on September 4, pending regulatory approvals [2]. Despite the strategic alignment with Dogecoin, CleanCore’s stock has experienced a significant downturn, plummeting approximately 60% on the news [1].

This move by CleanCore reflects a broader trend among publicly traded firms exploring digital assets as part of their treasury strategies. Companies such as Bit Origin and Dogecoin Cash Inc. have previously announced plans to build Dogecoin treasuries in 2025, with mixed financial outcomes. For instance, Spirit Blockchain Capital has seen its stock decline by over 88% year-to-date, while Dogecoin Cash Inc. has dropped by 70% [1]. CleanCore’s approach, however, is notable for its collaboration with the Dogecoin Foundation, which aims to establish Dogecoin as a legitimate asset for payments and tokenization, moving beyond its origins as a meme coin [2].

House of Doge and 21Shares, a crypto-ETF issuer, will advise CleanCore on governance and treasury strategy, including the exploration of staking-like yield opportunities and institutional investment products tied to DOGE [1]. According to Timothy Stebbing, a director at the Dogecoin Foundation, this partnership is a key step in advancing institutional adoption of Dogecoin, aiming to build a foundation-backed treasury strategy that could anchor long-term utility and growth [3]. CleanCore’s management emphasized that the initiative aligns with its goal of providing investors with regulated and transparent exposure to Dogecoin while continuing to operate its core business in aqueous ozone cleaning systems [4].

CleanCore’s stock price has been significantly impacted by the announcement, with shares falling to $2.69 in early trading, a 54% drop from its closing price on Friday [1]. The market reaction highlights the volatility and skepticism often associated with digital asset-based corporate strategies. The company’s leadership has acknowledged the potential risks, including regulatory and market uncertainties, but remains committed to its vision of integrating digital assets into traditional corporate operations [4]. CleanCore’s efforts are part of a growing trend where public companies seek to leverage the growing interest in cryptocurrencies, despite the challenges posed by market dynamics and investor sentiment [1].

The broader cryptocurrency market has seen Dogecoin decline by approximately 33% in 2025, according to TradingView, reflecting the broader challenges faced by altcoins in a competitive and volatile market environment [1]. CleanCore’s strategy, however, positions it as a pioneer in exploring Dogecoin as a corporate reserve asset, a move that could influence other public companies to follow suit. As the company continues to navigate the complexities of digital asset integration, its success will depend on the execution of its strategic goals and the market’s acceptance of Dogecoin as a legitimate and stable asset [2].

Source:

[1] title1 (https://cointelegraph.com/news/cleancore-plunges-dogecoin-treasury-strategy)

[2] title2 (https://www.coindesk.com/business/2025/09/02/cleancore-in-usd175m-deal-to-establish-a-dogecoin-treasury-shares-tumble-60)

[3] title3 (https://www.theblock.co/post/369086/cleancore-solutions-and-house-of-doge-launch-official-dogecoin-treasury-with-175-million-offering)

[4] title4 (https://www.quiverquant.com/news/CleanCore+Solutions%2C+Inc.+Closes+PIPE+Financing+to+Establish+Official+Dogecoin+Treasury+in+Partnership+with+Dogecoin+Foundation+and+House+of+Doge)