Kraken, Blockchain.com Back New Ethereum Reserve Company

According to the Wall Street Journal, the resulting entity will be called Ether Machine, with plans to accumulate over $1.5 […]

The post Kraken, Blockchain.com Back New Ethereum Reserve Company appeared first on Coindoo.

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.

   

 

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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.

The post Kraken, Blockchain.com Back New Ethereum Reserve Company appeared first on Coindoo.

 

Source: https://coindoo.com/kraken-blockchain-com-back-new-ethereum-reserve-company/

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