Dogecoin Treasury Raises $2B with Alex Spiro as Proposed Chairman

A prospective Dogecoin (DOGE) treasury company aims to raise at least $2 billion, with Alex Spiro poised to chair the 'House of Doge'. The fundraising proposal has been circulated to investors through a public company, with details on the listing entity and timing undisclosed. The DOGE Foundation reportedly formed the company in early 2025, based in Miami.

A new Dogecoin (DOGE) treasury company, led by Elon Musk's lawyer Alex Spiro, is set to raise at least $2 billion. The initiative, backed by the DOGE Foundation's official corporate entity, House of Doge, is being pitched to investors as a public vehicle to hold Dogecoin on its balance sheet. Details regarding the listing entity and launch timeline remain undisclosed. This move follows a trend of publicly traded companies adopting crypto treasury strategies to generate returns and attract investor interest [1, 2, 3].

House of Doge, launched in early 2025 and headquartered in Miami, has signed off on the treasury play to enhance the project's legitimacy. The company aims to offer stock-market exposure to Dogecoin without requiring direct ownership. Alex Spiro, who also represents high-profile clients like Jay-Z and Alec Baldwin, is set to serve as the chairman. The initiative mirrors similar efforts by companies such as Strategy (formerly MicroStrategy), which began accumulating Bitcoin in 2020 and saw significant gains in both Bitcoin and its stock price. Since then, over 184 publicly traded companies have announced cryptocurrency purchases totaling nearly $132 billion [2].

Dogecoin, a memecoin created in 2013, has long been associated with Elon Musk, whose public comments have historically influenced its price. Musk's involvement has contributed to periods of significant price volatility. In 2022, Musk faced a lawsuit alleging that he manipulated Dogecoin prices through social media posts. Spiro successfully defended Musk in court, leading to the lawsuit's dismissal in late 2024 [2].

The growing interest in Dogecoin treasury structures has also been reflected in recent corporate actions. For instance, Vancouver-based Neptune Digital Assets acquired 1 million Dogecoin in February 2025, and Nasdaq-listed company Bit Origin announced a plan to build a DOGE treasury in July 2025 [2].

Critics warn of regulatory risks, while proponents highlight reduced volatility for traditional investors seeking crypto exposure through institutional structures. The House of Doge's initiative is the latest in a series of moves by crypto investors to convince publicly traded companies to add cryptocurrencies to their balance sheets [1, 2, 3].

References:
[1] https://www.aol.com/elon-musk-lawyer-alex-spiro-202216766.html
[2] https://cointelegraph.com/news/elon-musk-s-lawyer-to-chair-200m-dogecoin-treasury-fortune-reports
[3] https://www.ainvest.com/news/dogecoin-news-today-elon-musk-lawyer-lead-200m-dogecoin-treasury-play-2508/