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At this week's start, U.S.-based machine industry company CleanCore announced that it was establishing a Dogecoin treasury through a $175,000,420 private placement. The company said it had entered into securities purchase agreements for a private investment in public equity to issue and sell 175,000,420 pre-funded warrants at a price of $1 each.
Proceeds from the private placement were aimed at enabling CleanCore in adopting Dogecoin as its primary treasury reserve asset and providing funding for general working capital and corporate purposes.
The closing of the offering occurred Sept. 4 with the transaction creating the only official Dogecoin treasury supported by the Dogecoin Foundation and the House of Doge, the commercial arm of the Dogecoin Foundation.
Now that the Dogecoin treasury has gone live, Dogecoin Foundation has issued a key clarification, putting to rest speculation of a new token being created.
Dogecoin foundation marks key clarification
In a recent tweet, Dogecoin Foundation makes it known that the Dogecoin Treasury is now established and active. It further explained the role of the Dogecoin treasury as a link for traditional investors to support Dogecoin, and also contribute to Dogecoin's acceptance and use as a global currency.
In a key clarification for the community, Dogecoin Foundation stated that in its last post, there was a misconception regarding its mention of ZONE, the NYSE ticker for CleanCore, as X confused the dollar symbol ZONE with a scam token.
In this light, Dogecoin explains under no uncertain terms that this is not a new token or crypto being announced. This ends speculation of a new token being created by Dogecoin, with any claims otherwise being a scam.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team