Dogecoin News Today: CleanCore’s Dogecoin Bet Sparks Skepticism, Skeptical Market Reaction

CleanCore Solutions has completed a $175 million private placement to establish the first official Dogecoin (DOGE) treasury in partnership with the Dogecoin Foundation and the House of Doge, the foundation’s commercial arm. The funding, raised through a private investment in public equity (PIPE) offering, will be used to acquire Dogecoin, which will serve as the company’s primary treasury reserve asset. The transaction involved over 80 institutional and crypto-native investors, including notable names like Pantera, GSR, FalconX, and Mythos. The offering is scheduled to close on September 4, 2025, pending regulatory approvals [1].

The move marks a significant shift for CleanCore, which is transitioning from a Nebraska-based cleaning products firm to a digital asset-focused company. The firm will use the net proceeds of the offering to acquire Dogecoin and contribute it to its treasury operations. The initiative is backed by the Dogecoin Foundation and the House of Doge, with the latter providing strategic oversight and advisory services on treasury management and institutional-grade investment products tied to DOGE [2].

Alex Spiro, a prominent attorney known for representing Elon Musk and other high-profile clients, has been appointed as chairman of CleanCore’s board of directors. Spiro’s involvement underscores the broader institutional interest in Dogecoin, particularly given its association with Musk, a long-time advocate of the meme-based cryptocurrency. Timothy Stebbing, a director of the Dogecoin Foundation, and Marco Margiotta, CEO of House of Doge, have also joined CleanCore’s leadership team, with Margiotta taking on the role of chief investment officer [3].

Despite the institutional backing, the announcement sent CleanCore’s stock tumbling more than 50% on Tuesday. The sharp decline came as investors reacted to the company’s pivot toward a volatile digital asset. Shares of CleanCore, however, remain up 152.2% year-to-date, driven largely by a rally in August following the firm’s announcement that it had achieved $1 million in sales for the first time in its fourth quarter. The decision to anchor Dogecoin as a legitimate asset for payments and tokenization reflects a broader industry trend of exploring use cases for altcoins beyond their meme origins [4].

The development also comes amid growing interest in altcoin-based treasuries, with several public companies in recent months announcing plans to hold and manage digital assets such as Solana (SOL), SUI, and World Liberty Financial’s WLFI governance token. CleanCore’s move to focus on Dogecoin sets it apart from most other firms, which have primarily concentrated on Bitcoin and Ethereum. The company aims to integrate Dogecoin into its corporate strategy, potentially exploring staking-like yield features with exchanges to generate returns on its holdings [5].

CleanCore’s pivot into digital assets has drawn attention from both crypto enthusiasts and traditional financial analysts, with some expressing skepticism about the long-term viability of using Dogecoin as a reserve asset. The cryptocurrency has struggled to regain its 2021 peak, with its price dropping more than 70% from its high of $0.73. Despite broader market gains for crypto assets, Dogecoin remains below its 2021 peak, trading at roughly $0.21 as of late August 2025. Experts have pointed to the lack of real-world utility and economic fundamentals as key challenges for the coin [6].

Source: [1] CleanCore in $175M Deal to Establish a Dogecoin Treasury (https://www.coindesk.com/business/2025/09/02/cleancore-in-usd175m-deal-to-establish-a-dogecoin-treasury-shares-tumble-60) [2] CleanCore Solutions, Inc. Closes PIPE Financing to Establish Official Dogecoin Treasury in Partnership with Dogecoin Foundation and House of Doge (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) [3] CleanCore Completes $175M Investment; Establishes DOGE Treasury (https://ktla.com/business/press-releases/cision/20250905LN66660/4-11-trillion-crypto-market-hits-record-as-corporate-america-embraces-digital-treasuries) [4] 80 investors backed a Dogecoin treasury firm — its stock just ... (https://finance.yahoo.com/news/80-investors-backed-dogecoin-treasury-210146228.html) [5] $4.11 Trillion Crypto Market Hits Record as Corporate ... (https://ktla.com/business/press-releases/cision/20250905LN66660/4-11-trillion-crypto-market-hits-record-as-corporate-america-embraces-digital-treasuries) [6] Bitcoin and Ethereum Hit New Highs—Why Not Dogecoin? (https://decrypt.co/338172/bitcoin-ethereum-hit-new-highs-why-not-dogecoin)