Elon Musk’s Lawyer to Chair $200M Dogecoin Funding Car

Elon Musk’s longtime lawyer, Alex Spiro, is about to chair a brand new publicly traded firm that goals to boost $200 million to construct a Dogecoin treasury, in accordance with a Fortune report citing a number of sources acquainted with the matter.

Key Takeaways:

• Elon Musk’s lawyer Alex Spiro will chair a brand new $200M public firm geared toward constructing a Dogecoin treasury.
• The enterprise, backed by the Dogecoin Basis’s Home of Doge, affords DOGE publicity with out direct token possession.
• It joins a rising checklist of companies including Dogecoin to company stability sheets amid rising institutional curiosity.

The enterprise is being pitched to buyers as a devoted Dogecoin holding car backed by the Home of Doge, the company entity created by the Dogecoin Basis in early 2025.

Headquartered in Miami, Home of Doge has emerged because the central pressure in institutionalizing the memecoin.

New Public Car to Provide Dogecoin Publicity With out Direct Possession

The corporate plans to supply stock-market publicity to Dogecoin with out requiring direct token possession from buyers.

Whereas nonetheless within the pitch section, investor supplies identify Spiro, companion at Quinn Emanuel Urquhart & Sullivan and Musk’s authorized consultant in a number of high-profile instances, because the incoming chairman.

This improvement comes amid a wave of companies rebranding as crypto treasury firms, elevating capital to amass digital belongings.

Dogecoin, initially launched in 2013 as a joke, has progressively discovered a foothold amongst a small however rising group of company backers.

In February, Vancouver-based Neptune Digital Property disclosed a 1 million DOGE buy at a median worth of $0.37.

The agency additionally holds Bitcoin and has expanded its treasury by means of derivatives. In the meantime, Nasdaq-listed Bit Origin revealed plans in July to boost $500 million in financing to construct its DOGE-focused stability sheet, changing into the primary US-listed firm to take action.

Tesla, the electrical car firm chaired by Musk, has additionally acknowledged Dogecoin holdings and accepts the token for choose merchandise purchases.

Whereas Tesla hasn’t disclosed the scale of its DOGE reserves, its public endorsement has lengthy been thought-about a key catalyst for the token’s recognition.

Musk’s relationship with Dogecoin has been each promotional and controversial. A 2019 tweet calling Dogecoin his “fav cryptocurrency” helped propel the coin into mainstream visibility.

In 2021, his Saturday Night time Dwell look, the place he referred to as Dogecoin a “hustle,” triggered a steep worth drop after a hype-fueled rally.

Spiro defended Musk in a 2022 lawsuit alleging Dogecoin market manipulation. That lawsuit was dismissed in 2024.

Eliza Labs Sues Elon Musk’s X Corp, Alleging Monopoly Abuse

As reported, Eliza Labs has filed a lawsuit towards X Corp, accusing the Elon Musk-owned firm of abusing its dominant place to suppress competitors and replicate its know-how.

The criticism claims that X used its platform energy to extract delicate technical knowledge from Eliza Labs earlier than suspending the agency’s account with out warning.

Final week, Ex Populus, the corporate behind the Ethereum-based gaming platform XAI,additionally filed a trademark infringement lawsuit towards Elon Musk’s synthetic intelligence firm, xAI.

The authorized dispute facilities on alleged market confusion between Ex Populus’s federally registered “XAI” trademark and Musk’s equally named enterprise, launched shortly after.

Ex Populus claims Musk’s xAI crossed into its territory when he introduced plans to launch an AI sport studio in late 2024, amplifying confusion amongst customers.

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