Elon Musk's lawyer will serve as chairman of a Dogecoin financial company with a scale of $200 million.

According to ChainCatcher, citing anonymous sources reported by Fortune, Elon Musk's lawyer Alex Spiro will serve as chairman of a planned $200 million Dogecoin treasury company. The company, backed by House of Doge, aims to provide investors with an opportunity to indirectly hold Dogecoin.

The project plans to raise at least $200 million, operating as a public company holding Dogecoin assets, allowing investors to gain exposure to digital assets in the stock market without directly owning the tokens. The project is currently still in the pitching stage, and the specific structure and launch date have not yet been announced.

Spiro is a partner at Quinn Emanuel Urquhart & Sullivan and has represented numerous high-profile clients, including Elon Musk, Jay-Z, and Alec Baldwin. He has been nominated as the planned chairman of the entity in investor materials and discussions.