CleanCore plunges 60% after unveiling $175M Dogecoin treasury strategy
CleanCore’s pivot to Dogecoin is being spearheaded by its newly appointed board chairman, Alex Spiro, a longtime attorney for Elon Musk.
CleanCore Solutions, a Nebraska-based maker of aqueous ozone cleaning systems, saw its shares plunge over 60% Tuesday after announcing plans to become a Dogecoin treasury company.
The company disclosed a $175 million private placement backed by over 80 institutional and crypto-native investors, including Pantera, GSR, FalconX and Borderless.
Proceeds will be used to acquire Dogecoin (DOGE) as CleanCore’s primary reserve asset, with the initiative led by newly appointed board Chairman Alex Spiro, Elon Musk’s longtime attorney.