The commercial arm of the Dogecoin Foundation – House of Doge – joins forces with the publicly listed cleaning agent company CleanCore Solutions to create a treasury of memecoin. The personal lawyer of Elon Musk, Alex Spiro, becomes chairman of the company.

As part of the partnership, CleanCore (ZONE) has entered into a securities purchase agreement for a private placement (PIPE) of USD 175 million. House of Doge and the financial institution 21Shares will advise the company in the future.

“This is the first foundation-based treasury strategy for Dogecoin, and it is supposed to do more than just hold DOGE,” said Marco Margiotta, CEO of House of Doge and newly appointed CIO of CleanCore. Accordingly, staking-like return possibilities are to be explored.

“This foundation will help build trust with investors, dogecoin keepers, stock markets and companies that could integrate Dogecoin for payments or tokenization,” says Margiotta.

ZONE’s shares fell by almost 53 percent to USD 3.23 until the close of trading on Tuesday. However, since the beginning of the year, it has stood at an increase of 145 percent.

Tesla founder Elon Musk has been closely associated with Dogecoin for years. The social media posts of the controversial entrepreneur regularly caused course leaps at DOGE.

Dogecoin holders had subsequently filed a complaint amounting to 258 billion US dollars, in which they claimed that Musk had deliberately manipulated the market. Spiro defended Musk in the case. It was dropped last November.

House of Doge was founded to promote the global acceptance of the dog token, which was originally intended for mere fun. Previously, the company had helped place the coin’s iconic Shiba Inu mask pothouse on an Indy500 racing car.

The DOGE course hardly reacted to the news. In the last 24 hours, it will only be recorded in around 1.3 percent in the increase.