Dogecoin News Today: Elon Musk's Lawyer to Lead $200M Dogecoin Treasury Push

A new initiative is set to bring Dogecoin (DOGE) into the public markets through a treasury company, with Elon Musk’s personal attorney, Alex Spiro, slated to serve as chairman. According to multiple sources, the company is seeking to raise at least $200 million, positioning it as a public vehicle to hold Dogecoin on its balance sheet. This structure would allow traditional investors to gain exposure to the memecoin via stock market investments, bypassing direct ownership of the digital asset. The entity is backed by the House of Doge, a Miami-based corporate body established in early 2025 by the Dogecoin Foundation, tasked with promoting and developing the cryptocurrency [1].

House of Doge has reportedly endorsed the treasury initiative as the “official” Dogecoin vehicle, a move that aligns with similar strategies used by other cryptocurrency foundations to enhance legitimacy. The company, still in the pitching phase, has not disclosed its structure or launch timeline. Details about Musk’s potential involvement remain unclear, with neither Musk’s X team nor House of Doge commenting on the matter [1].

This development is part of a broader trend in which publicly traded companies are rebranding as crypto treasuries. The strategy gained traction when data analytics firm MicroStrategy, now known as Strategy, announced in 2020 that it would add Bitcoin to its corporate holdings. Since then, over 184 public companies have made similar moves, collectively allocating nearly $132 billion to cryptocurrency assets, as of January 2025 [1]. While this trend provides traditional investors with indirect access to crypto, it has also raised concerns about potential insider trading and corporate mismanagement.

Dogecoin, the original memecoin created in 2013, has long been influenced by public sentiment and, notably, by Elon Musk’s social media activity. Musk’s frequent mentions of Dogecoin, including during a 2021 appearance on Saturday Night Live, have historically driven sharp price movements. The token’s value is closely tied to its online popularity, and Musk’s personal enthusiasm for the Doge meme even led him to name his government efficiency initiative the Department of Government Efficiency, or DOGE [1].

The legal landscape surrounding Dogecoin also remains contentious. In 2022, investors filed a lawsuit alleging that Musk was manipulating the market by posting about the memecoin on social media. Spiro, who represented Musk in the case, successfully defended him in court, with the lawsuit dismissed in August 2024 [1]. The legal victory was seen as a significant win for both Musk and the broader Dogecoin community.

As the Dogecoin treasury initiative gains momentum, it reflects the growing intersection between traditional finance and the volatile crypto market. While the structure offers a novel way for investors to engage with Dogecoin, it also raises questions about regulatory oversight and market integrity. With Alex Spiro at the helm, the new entity could signal a shift in how memecoins are perceived and integrated into mainstream investment portfolios [1].

Source:

[1] Elon Musk's lawyer Alex Spiro set to chair $200 million Dogecoin treasury company (https://fortune.com/crypto/2025/08/29/elon-musk-alex-spiro-dogecoin-house-of-doge-crypto-treasury-company/)

[2] Elon Musk’s lawyer to chair $200M Dogecoin treasury (https://cointelegraph.com/news/elon-musk-s-lawyer-to-chair-200m-dogecoin-treasury-fortune-reports)

[3] Elon Musk's lawyer Alex Spiro set to chair $200 million Dogecoin treasury (https://finance.yahoo.com/news/elon-musk-lawyer-alex-spiro-202216063.html)