CleanCore bought 68 million USD worth of DOGE as reserves, and the stock price surged 40% after hours.

CleanCore, a US company, has invested $68 million to purchase DOGE, announcing the creation of the world's first publicly listed company "DOGE Treasury." Wall Street and the crypto market are both observing whether this experiment can rewrite the corporate asset allocation landscape. (Background: Why has DOGE remained stagnant during this bull run? Does the former meme coin king still have a chance?) (Context: CleanCore's gamble on DOGE to create the "DOGE Treasury" has seen its stock price plummet: a cautionary tale of meme coin transformation speculation.) On September 8, Eastern Time, CleanCore Solutions (NYSE American: ZONE) dropped a bombshell: the company has utilized private equity investments (PIPE) funds to officially incorporate DOGE( (Dogecoin, DOGE)) into their treasury core. The first batch of 285.4 million DOGE, valued at approximately $68 million, has been set with a goal to increase the holding to 1 billion coins within 30 days, ultimately accounting for 5% of the circulating supply. Following the announcement, ZONE's after-hours stock price surged over 40%, and DOGE's price also climbed about 7%. This cross-industry maneuver has once again brought the topic of corporate treasury management and crypto asset integration to the forefront. From cleaning products to "DOGE Treasury," CleanCore originally focused on environmentally friendly cleaning agents, with a relatively stable revenue structure. After introducing new funds through a total of $175 million PIPE, the company immediately shifted to a digital asset strategy. According to the company announcement, all coin purchase processes are entrusted to regulated custodians, and they will regularly disclose holding costs and fair value to investors. The board stated that this move "helps diversify assets and establish brand connections with younger demographics." Although the statements are cautious, the market still focuses on the potential excess returns from high fluctuation assets. Marco Margiotta, one of the PIPE investors and also the CEO of the DOGE Foundation's business division, House of Doge, has taken over as CleanCore's Chief Investment Officer, responsible for future coin strategies and risk management. He emphasized that the team will use batch buying, options hedging, and cold wallet tools to "reduce fluctuation risk to an acceptable level." Further pushing the institutionalization of DOGE, the external perception of DOGE has long been stuck in the realm of "meme, speculation, and community sentiment." However, starting in 2024, payment applications, staking services, and remittance pilots are gradually emerging, making the narrative of DOGE no longer solely a joke. CleanCore's entry is seen as the "first regulated publicly listed company to directly hold DOGE long-term," providing a ready-made case for potential future DOGE ETFs. On the same day, the new regulations of the Financial Accounting Standards Board (FASB) officially took effect, allowing companies to account for held cryptocurrencies at fair value and reflect them in their income statements. The reduction of accounting barriers makes it easier for companies to persuade auditors and investors to accept the concept of "putting digital assets on the balance sheet." This system, combined with CleanCore's actions, has been interpreted by many analysts as a node in the "digitalization of corporate treasuries." With $700 million in funds queued for entry, the risks remain significant. In addition to CleanCore, House of Doge is preparing a $200 million fund, and Bit Origin is also planning a $500 million DOGE ecosystem investment pool, totaling over $700 million in potential buying power. If all plans are realized, DOGE liquidity will significantly increase, which may amplify price fluctuations. However, high volatility and regulatory uncertainties still exist: if prices plunge suddenly, holding companies must recognize losses in their financial reports; if they fail to hedge in time, leveraged users could also face capital structure pressures. Legal aspects still have gray areas. Although FASB provides accounting guidelines, the U.S. Securities and Exchange Commission (SEC) has not yet proposed specific regulations for "publicly listed companies holding meme coins on a large scale." Some lawyers warn that if companies fail to sufficiently disclose liquidity and security mechanisms, it may lead to shareholder lawsuits in the future. Information security is also crucial; any wallet being hacked could lead to the instant evaporation of assets. Regardless of the outcome, this "experiment of a cleaning company and DOGE" has marked a new coordinate, allowing corporate asset allocation to venture into the unknown with greater imaginative potential. Related reports: "Elon Musk’s DOGE lawsuit entirely relies on him"; lawyer Alex Spiro appointed chairman of "DOGE Treasury Company," plans to raise $200 million; "Is DOGE in danger!" Qubic paralyzes Monero after "community voting Dogecoin"; has decentralization completely collapsed? From DOGE to PEPE, the path to equal rights in meme coin creation. (CleanCore purchases $68 million in DOGE as reserves, stock price surges 40% in after-hours trading) This article was first published on BlockTempo, the most influential blockchain news media.