Summary
- Alex Spiro, a close associate of Elon Musk, will serve as chairman of a newly listed company formed to invest in Dogecoin.
- The company said it is seeking to raise at least $200 million in funding.
- It said investors will be able to indirectly invest in Dogecoin through shares of the listed company without owning the coins directly.
A close associate of Elon Musk is set to serve as chairman of a newly listed company formed to invest in Dogecoin (DOGE).
On the 30th (local time), Cointelegraph reported that Elon Musk's lawyer Alex Spiro will serve as chairman of the newly listed company formed to invest in Dogecoin, and the company is seeking to raise at least $200 million in funding.
The entity is reported to have the backing of House of Doge, a corporation the Dogecoin Foundation established in Miami earlier this year. The company will buy Dogecoin in large quantities and hold it as an asset, allowing investors to indirectly invest in Dogecoin through shares of the company listed on the stock market without owning the coins directly.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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