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CleanCore's Dogecoin Gamble: Investors Flee as Stock Plummets

NYSE-listed CleanCore Solutions dives headfirst into Dogecoin as its primary treasury asset, sparking a massive sell-off despite backing from prominent crypto investors.

Branden Chen

Senior Crypto Analyst•September 3, 2025

CleanCore's Risky Dogecoin Bet Sends Stock Tumbling

CleanCore Solutions (NYSE: ZONE) surprised the market this week by announcing a bold move to make Dogecoin (DOGE) its primary treasury reserve. The reaction? A significant drop in the company's stock price.

Shares plummeted over 54% on Tuesday, closing at $2.69 after the announcement.

Key Players and the Strategy

The Dogecoin strategy is being led by Alex Spiro, Elon Musk’s attorney, who recently became CleanCore’s board chairman. CleanCore secured a $175 million private placement from over 80 investors, including Pantera, GSR, FalconX, and Borderless. The funds are earmarked for acquiring DOGE.

CleanCore has partnered with the Dogecoin Foundation and House of Doge. Timothy Stebbing (Dogecoin Foundation) and Marco Margiotta (House of Doge) are joining CleanCore’s leadership team, with Margiotta as chief investment officer.

Margiotta stated the aim is to "set a precedent for how public companies can align with foundations to build real utility around digital currency."

House of Doge and 21Shares will advise on staking-like yield opportunities and institutional investment products tied to DOGE.

Dogecoin's Growing Corporate Presence

CleanCore joins a small but growing list of companies incorporating DOGE into their balance sheets:

Bit Origin
Spirit Blockchain Capital
Neptune Digital Assets
Tesla

These companies cite Dogecoin's low transaction costs, high liquidity, and branding as attractive for engaging with crypto communities and experimenting with micropayments.

The Risks

Despite the potential benefits, the risks are substantial. Dogecoin's inflationary supply and price volatility are major concerns. Its limited smart contract functionality also restricts its utility compared to Ethereum.

Key Takeaways

CleanCore Solutions is betting big on Dogecoin as a treasury asset.
The market reacted negatively, with the stock price crashing over 50%.
Several other public companies have begun integrating DOGE, citing its utility for transactions and community engagement.
The risks associated with DOGE, including its inflationary supply and price volatility, are significant.

Investment Considerations

As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.

This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.