Another Ethereum Company Founded: $1.5 Billion in Corporate Doping for ETH is Coming!

As institutional interest in Ethereum grows daily, another company has announced that it will create an ETH treasury.

According to the Wall Street Journal, Special Purpose Acquisition Company (SPAC) Dynamix will merge with another entity to form an Ethereum (ETH) reserve company.

WSJ, citing sources familiar with the matter, reported that Dynamix is preparing to merge with another organization to form a new company called “Ether Machine.” It was stated that the goal after the merger is to stock more than $1.5 billion worth of Ethereum.

It was also stated that Kraken and Blockchain.com will invest $800 million in equity in the Ether Machine startup.

Additionally, Andrew Keys, who is set to become the chairman of Ether Machine, will join as the main investor with a commitment of $645 million.

It was stated that David Merin and Jonathan Christodoro will assume the roles of CEO and Vice President, respectively.

As is known, a company called Sharplink Gaming purchased a large amount of ETH by applying the MicroStrategy tactic within the scope of the Ethereum reserve decision and left the Ethereum Foundation behind.

Related News: Ethereum's MicroStrategy Announced! Massive Company Makes Another Large Purchase, Surpassing the Ethereum Foundation! Becomes Largest Institutional ETH Holder! *This is not investment advice.

Continue Reading: Another Ethereum Company Founded: $1.5 Billion in Corporate Doping for ETH is Coming!.

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