Elon Musk's Attorney Designated to Oversee Dogecoin's $200 Million Reserve, as Stated in a Report

In a recent development, a new Dogecoin treasury company is making waves in the crypto world. The company, yet to be listed, is being led by Alex Spiro, personal lawyer to Tesla CEO Elon Musk, who has been appointed as the chair of the company. The new CEO is Clayton Adams, currently the head of CleanCore Solutions.

The company is planning to invest in Dogecoin's native token, DOGE, with an aim to raise a substantial $200 million to form the Dogecoin treasury. This move mirrors a growing trend among listed companies, creating "digital asset treasuries" to offer traditional investors exposure to cryptocurrencies.

However, it's important to note that the new Dogecoin treasury company is not explicitly stated to be listed, unlike Bit Origin, which holds approximately 70 million DOGE, valued at nearly $17 million.

Meanwhile, Thumzup Media Corporation, a company in which Alex Spiro is also a shareholder alongside Donald Trump Jr., recently announced the acquisition of Dogecoin and Litecoin mining firm Dogehash in a $50 million all-stock deal. Yet, Thumzup Media Corporation has not been previously mentioned as being involved in the new Dogecoin treasury company, and the Unchained Daily newsletter did not provide information about any potential future acquisitions or partnerships between the two entities.

Investors are already being pitched on the treasury firm, but the Unchained Daily newsletter did not provide information about the timeline for the new Dogecoin treasury company's fundraising efforts or its plans for investing in specific companies beyond DOGE.

It's also worth mentioning that some investors have noted that Dogecoin's official corporate entity, House of Doge, has already signed off on the treasury play. However, the exact role Alex Spiro would play in the new Dogecoin treasury company remains unclear.

As the crypto market continues to evolve, the formation of this new Dogecoin treasury company adds another interesting chapter to the ongoing narrative. Stay tuned for more updates as they become available.