$200M Dogecoin treasury firm names Elon Musk’s lawyer as chair
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Elon Musk’s attorney Alex Spiro is preparing to lead a new public crypto company backed by the DOGE meme coin. According to people familiar with the matter, the firm plans to raise $200 million. So far, investors have cast the enterprise as a Dogecoin treasury platform and an endorsement of House of Doge, the Miami entity formed in early 2025 by the Dogecoin Foundation. Musk has influenced Dogecoin’s popularity and price in the past The company aims to raise at least $200 million to be listed as a publicly traded company that holds Dogecoin or its relevant derivatives on its balance sheet. The idea is to offer investors a way of entering the stock market to gain exposure to Dogecoin without needing to hold it directly. For now, though, the plan is still at the pitch stage, with no specific details yet on structure or timing. Investor materials and conversations indicate the group intends to name Alex Spiro, a Quinn Emanuel partner known for representing high-profile clients like Elon Musk, Jay-Z, and Alec Baldwin, as chairman. Musk himself has had long-standing connections with Dogecoin. In 2019, he called it his favorite cryptocurrency in a post that helped catapult the token into the spotlight. Then again, during his May 2021 Saturday Night Live appearance, Musk described Dogecoin as a “hustle,” a comment that quickly erased weeks of gains and dragged the token down from record levels. The price seemed to shift each time the billionaire posted about Dogecoin, sparking worries from regulators and investors about his outsized impact. He even faced a market-manipulation lawsuit in 2022, but in 2024, the case was dismissed, thanks in part to Spiro’s defense. For now, it is still unclear whether Musk will be involved with the new company. Representatives for X have not replied to…
