Editor's PiCK
A company will amass $1.5 billion worth of Ethereum… "Aiming for IPO in Q4 this year"
Summary
- Dynamix has announced plans to establish the Ethereum (ETH) reserve company 'Ether Machine' through a merger.
- 'Ether Machine' aims to hold more than $1.5 billion worth of Ethereum, with Kraken and Blockchain.com participating in equity investments totaling $800 million.
- Ether Machine targets an IPO in Q4 this year, with an expected initial holding of 400,000 ETH at launch.
Special Purpose Acquisition Company (SPAC) Dynamix is reportedly pursuing a merger to establish an Ethereum (ETH) reserve company.
On the 21st (local time), The Wall Street Journal (WSJ), citing sources familiar with the matter, reported, "Dynamix plans to establish the Ethereum reserve company 'Ether Machine' through a merger with another firm." The company aims to hold more than $1.5 billion worth of Ethereum.
Kraken and Blockchain.com are expected to make equity investments totaling $800 million in the formation of Ether Machine. In addition, Andrew Keys, who will serve as the next chairman, will participate as an anchor investor with a $645 million stake.
The roles of CEO and vice chairman are to be held by David Merin and Jonathan Christodoro, respectively.
Meanwhile, according to an official release from Dynamix, Ether Machine is aiming to go public in Q4 this year. Upon launch, it is expected to hold about 400,000 ETH.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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