Elon Musk’s longtime attorney Alex Spiro has been named chairman of a new Dogecoin (DOGE) digital asset treasury (DAT) seeking to raise at least $200 million, according to a Fortune report on Friday that cited people familiar with the matter.

The initiative, currently being pitched to investors, would create a publicly traded company designed to accumulate Dogecoin on its balance sheet. Investors are closely watching whether the initiative could act as a catalyst for Dogecoin’s price appreciation.

Celebrity Lawyer’s Meme Coin Treasury Effort

Spiro, a partner at Quinn Emanuel Urquhart & Sullivan, has been identified in investor materials as the planned chairman of the new entity. He has represented Musk in numerous high-profile cases and previously worked with celebrity clients such as Jay-Z and Alec Baldwin.

The Doge project, backed by House of Doge and launched in early 2025, is being marketed as the next major push for mainstream Dogecoin adoption. While aiming to raise $200 million, the Doge treasury has yet to disclose details about its launch date or strategy.

Meanwhile, Dogecoin traded at $0.214 on Friday, down 4.8% over the prior 24 hours. That price represents a decline of roughly 52% from the one-year high of $0.446.

Dogecoin has remained range-bound since mid-March, fluctuating between $0.15 and $0.25.

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Author: Sangho Hwang

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