Tesla CEO Elon Musk’s longtime personal lawyer, Alex Spiro, has been tapped to chair a new public company aiming to raise $200 million to form a Dogecoin treasury, according to a report from Fortune.

Investors are reportedly already being pitched on the treasury firm that will invest in Dogecoin’s native token DOGE, with some of them noting that Dogecoin’s official corporate entity House of Doge had already signed off on the treasury play.

The effort mirrors a growing trend where listed companies create “digital asset treasuries” to give traditional investors exposure to crypto.

This story is an excerpt from the Unchained Daily newsletter.

It also wouldn’t be the first DOGE-focused digital asset treasury. The Nasdaq-listed Bit Origin holds around 70 million DOGE, valued at close to $17 million.

Although it is unclear what role Spiro would play in the company, he sits on the cap table of Thumzup Media Corporation alongside Donald Trump Jr. 

Last month, Thumzup announced the acquisition of Dogecoin and Litecoin mining firm Dogehash in a $50 million all-stock deal.