Dogecoin Gets Its 1st Foundation-Backed Treasury Worth $175 Million

Dogecoin’s backers moved quickly this week to create what they call the first official DOGE treasury, pushing $175 million into a vehicle aimed at buying Dogecoin and bringing more institutional muscle to the token. Related Reading: Mastercard Stresses Crypto Is An Enhancement, Not A Substitute According to reports, the fund was set up through a private placement that issued 175,000,420 pre-funded warrants priced at $1 each, a structure meant to provide immediate capital for purchases. The plan has drawn big-name crypto firms and traditional investors. Funding And Structure Based on reports, the financing raised $175 million in total source: https://www.newsbtc.com/news/dogecoin/dogecoin-gets-its-1st-foundation-backed-treasury-worth-175-million/