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CleanCore Solutions stated they planned a $175 million private placement to form the first Dogecoin (DOGE) treasury of a publicly traded corporation. Over 80 institutional investors, such as Pantera Capital, GSR Markets, and FalconX, joined the round. The project turns Dogecoin into a meme coin that is formally registered on the books of corporate finance.
It will have a treasury that is run by 21Shares, a digital funds manager based in Switzerland. CleanCore will use its resources to buy Dogecoin, stake in the currency, and increase its use in home payment systems. Others who have taken part include the Dogecoin Foundation and House of Doge Inc. House of Doge CEO Marco Margiotta will serve as Chief Investment Officer, with lawyer Alex Spiro coming on board as the chair to assist with regulatory problems.
This has been growing with trends in the broader adoption of digital assets. This happened after Bit Origin, a NASDAQ-traded company, purchased 40.5 million DOGE coins on behalf of its corporate treasury. However, the extended funding line and public market coverage CleanCore enjoys make it bigger and more visible.
Even with such institutional involvement, CleanCore shares declined by 60% after the treasury announcement. Investors mentioned risks associated with Dogecoin's inflationary design and overdependence on retail investors' sentiment. Critics note that the volatility of a meme coin could be at odds with a corporate treasury approach to issues.
Doubt has also arisen around financial data. Based on the 2025 network loss of 6.74 million, CleanCore has a reported expenditure of 1.1 million in quarterly revenue. Analysts observe that such a financial context begs questions about how sustainable it is to base the performance of companies on an unstable cryptocurrency. The development has prompted a discussion about whether meme coins can have a significant role in corporate finance beyond involving speculation on a short-term basis.
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The move by CleanCore comes after the US Securities and Exchange Commission decided in 2025 that Dogecoin would be treated as a commodity. This decision helped loosen the belt on companies that want to base DOGE on their balance sheets. By positioning Dogecoin in the institutional framework of commodity regulations, the government has allowed regulators to use it like Bitcoin when handling reserves.
The use of social media-controlled movements of Dogecoin and the endless availability of this crypto asset still contribute to uncertainty surrounding its usage as a corporate resource. Even as institutional support increases, industry observers emphasize that striking a balance between innovation and sustainability implementation will be the key to whether meme coins will become integrated in corporate finance.
