Elon Musk’s Lawyer to Lead $200 Million Dogecoin Venture

Elon Musk’s lawyer, Alex Spiro, is preparing to lead a new public company that aims to raise $200 million to invest in Dogecoin, according to a report by Fortune.

The project is described as a Dogecoin treasury vehicle and is backed by House of Doge, a corporate entity launched in early 2025 by the Dogecoin Foundation and based in Miami. Instead of requiring direct ownership, the company would give investors stock-market exposure to Dogecoin by keeping the cryptocurrency on its balance sheet.

At present, the plan is still in the proposal stage, and its structure and timeline are yet to be finalized. House of Doge has endorsed it as the “official” Dogecoin vehicle, following a model like other cryptocurrency foundations that support treasury-style firms.

Dogecoin which was introduced in 2013, has not reached the same level of adoption as Bitcoin or Ether but continues to maintain a strong community of supporters. Musk’s potential involvement in the new company has not yet been clarified.

Tether Scraps Plan to Freeze USDT on Five Blockchains

Stablecoin issuer Tether has reversed its decision to freeze USDT smart contracts on five blockchains, saying tokens will remain transferable but will no longer be issued or redeemed. The move affects Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand.

According to CoinTelegraph, Tether said it made the change after receiving feedback from communities on these networks. While users can still transfer tokens, the company will discontinue direct issuance and redemption, meaning these versions of USDT will no longer be officially supported. On September 1, 2025, Tether had first intended to freeze the contracts.

The decision is aligned with Tether policy of concentrating on ecosystems such as Ethereum and Tron that have high developer activity and consumer demand. When combined, these two chains supply more USDT than any other network, with a total value of nearly $153 billion.

Avalanche Leads Blockchain Transaction Growth Amid US Government Adoption

Avalanche has posted the strongest transaction growth among major blockchain networks this week, drawing more investor attention to its utility token. The smart contract blockchain, designed for scalability and usability, recorded over 11.9 million transactions across more than 181,000 active addresses, a sixty six percent jump from the previous week, Nansen, Blockchain analytics firm Nansen said in a post on X.

The US Department of Commerce has launched a new initiative to release real gross domestic product (GDP) figures on decentralized blockchains. Beginning with the July 2025 data, these reports will be published across nine networks, including Bitcoin, Ethereum, Solana, Tron, Polygon, and Avalanche.

The Department described the effort as a landmark step to highlight blockchain’s utility and support wider public use of the technology.