House of Doge Inc. said Tuesday it has partnered with CleanCore Solutions to form the “official” Dogecoin digital asset treasury. The DAT is launching with a $175 million private placement offering.
Elon Musk’s personal lawyer, Alex Shapiro, will act as Chairman of the Board of Directors at the new DAT, according to a statement.
“To establish the treasury … CleanCore has entered into securities purchase agreements for a private investment in public equity (PIPE) for the offer and sale of 175,000,420 Pre-Funded Warrants at a price of $1.00 per Pre-Funded Warrant,” the statement said. “The transaction consisted of a group of over 80 marquee institutional and crypto native investors including, but not limited to, MOZAYYX, Pantera, GSR, FalconX, Borderless, Mythos and Serrur & Co. LLC.”
CleanCore is listed on the New York Stock Exchange under the ticker ZONE. House of Doge, which is billed as “the official corporate arm of the Dogecoin Foundation,” will work with ETF issuer 21Shares to oversee the new DAT’s operations.
ZONE’s shares were down over 60% in pre-market trading, according to Yahoo Finance.
Fortune first reported last week the possibility of Musk’s lawyer chairing the Dogecoin DAT.
Bit Origin (ticker BTOG) announced in July the initial purchase of about 40.5 million DOGE tokens, becoming the first public company to establish a corporate treasury stacking the Shibu Inu-based memecoin.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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