Institutional Ethereum adoption continues to gain momentum, with SPAC firm Dynamix reportedly planning to form a dedicated ETH treasury company through a strategic merger.
According to the Wall Street Journal, the resulting entity will be called Ether Machine, with plans to accumulate over $1.5 billion in ETH.
Backing the move are major crypto firms Kraken and Blockchain.com, expected to contribute $800 million in equity.
Andrew Keys, who will chair the new venture, has also committed $645 million personally. Leadership roles include David Merin as CEO and Jonathan Christodoro as Vice President.
The Ether Machine strategy mirrors recent moves by Sharplink Gaming, which made headlines for building a sizable Ethereum treasury, even surpassing the Ethereum Foundation’s holdings.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/kraken-blockchain-com-back-new-ethereum-reserve-company/