Latest news with #PanteraCapital
Yahoo
a day ago
- Business
- Yahoo
Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut
By Ateev Bhandari (Reuters) -The Ether Reserve, a new crypto venture backed by prominent crypto investors, will list on the Nasdaq through a merger with blank-check firm Dynamix Corporation and is expected to raise over $1.6 billion. The combined entity, to be named The Ether Machine, aims to launch with more than 400,000 Ether on its balance sheet, positioning it as the largest public vehicle for institutional exposure to the world's second-largest cryptocurrency. Shares of Dynamix rose nearly 28% in early trading. The deal highlights rising institutional interest in holding crypto on corporate balance sheets, with several projects announcing plans in recent months to publicly list their shares while aiming to wrap crypto assets into equity to attract traditional investors. While most corporate interest has focused on Bitcoin, Ether has surged in recent weeks, hitting a six-month high on Friday. Ether stands out for its yield-generating capability and its use in digitizing real-world assets, according to Andrew Keys, who will serve as Ether Machine's chairman. Ether holders earn returns via staking, a process that supports the operation and security of the Ethereum network. 'Bitcoin doesn't have yield and Ether does,' Keys, who previously worked with Ethereum co-founder Joseph Lubin, told Reuters in an interview. Investors in the blank-check deal, including Kraken, and Pantera Capital, are contributing more than $800 million through an upsized common stock offering. ECOSYSTEM DOMINANCE Ethereum is growing in a way that is reminiscent of how Google dominated internet search, Keys said, adding that 90% of stablecoins and other real-world tokenizations are settled on the platform. The blockchain supporting Ether can have "infinite assets created on top of it and we can have infinite functionality through smart contract usage," he added. Smart contracts are self-executing digital agreements on blockchains, eliminating intermediaries. Ether has also benefited from increased regulatory clarity around U.S. dollar-pegged stablecoins. "The largest beneficiary of the Genius Act is Ethereum because the majority of stablecoins reside on top of Ethereum," Keys said. The company will trade on the Nasdaq under the symbol "ETHM" upon deal close, which is expected in the fourth quarter of 2025.
Yahoo
2 days ago
- Business
- Yahoo
Ether Machine to List on Nasdaq Via SPAC With $1.5B Backing
A new ether investment vehicle is set to debut on the Nasdaq with an expected 400,000 ETH ($1.53 billion) on its balance sheet. The Ether Reserve will list on the Nasdaq via a merger with special purpose acquisition company (SPAC) Dynamix Corporation (DYNX). The combined entity will be named The Ether Machine and trade under the ticker ETHM, according to an announcement on Monday. DYNX shares jumped over 30% to trade at around $13.40 in pre-market trading on Monday. The Ether Machine is positioned as a public vehicle for exposure to Ether and ETH-denominated yield through seeking returns from staking, restaking and decentralized finance (DeFi). It is backed by around $645 million worth of ETH from Andrew Keys, a former executive at Ethereum infrastructure builder Consensys, who will serve as chairman of Ether Machine. The company also has over $800 million in financing from a range of high-profile backers, such as 1RoundTablepartners, Pantera Capital, Kraken and The listing couldn't come at a much better time for ether bulls, as the world's second-largest cryptocurrency climbed as much as 25% last week to break above $3,800 for the first time in 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
14-07-2025
- Business
- CNBC
Bitcoin hits new record above $123,000 as 'Crypto Week' kicks off on Capitol Hill: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin notches yet another new record, this time above $123,000. Plus, 'Crypto Week' kicks off on Capital Hill where the House of Representatives will debate a series of crypto-related bills. And, Cosmo Jiang of Pantera Capital discusses the growing trend of corporate crypto treasuries.
Yahoo
04-07-2025
- Business
- Yahoo
Ondo, Pantera Capital to Invest $250M in Real-World Asset Projects
Tokenization platform Ondo Finance ONDO and digital asset investment firm Pantera Capital have teamed up to invest $250 million in real-world asset (RWA) projects as the red-hot tokenization trend is accelerating. The initiative, named Ondo Catalyst, aims to invest in protocols and infrastructure projects that enhance the development of tokenized finance and on-chain capital markets, according to a Thursday blog post by Ondo. The initiative will do a mix of equity and token investments, a representative of Ondo told CoinDesk in a Telegram message. "The financial system is undergoing a fundamental upgrade," Nathan Allman, founder and CEO of Ondo Finance, said in the blog post. "By supporting the infrastructure and applications that unlock real-world utility for tokenized assets, we're helping reshape how capital moves around the world." Tokenization is one of the fastest-growing crypto use cases and has captivated big banks, fintechs, asset managers and crypto native firms alike. The process aims to bring traditional financial instruments such as bonds, stocks and real estate, often dubbed RWAs, onto blockchain rails, promising more efficient operations, faster and around-the-clock settlements, broader investor access and programmable transactions. For example, Robinhood, Bybit, Kraken and Gemini have recently introduced trading with tokenized versions of U.S. stocks, while BlackRock and Franklin Templeton issue tokenized money market funds backed by short-term U.S. Treasuries. Ondo is one of the largest tokenized U.S. Treasury issuers, with its OUSG and USDY tokens having a combined market capitalization of nearly $1.4 billion, data by shows. The firm is also developing a layer-1 blockchain network designed for tokenized RWAs. The news of the partnership was first reported by in to access your portfolio
Yahoo
04-07-2025
- Business
- Yahoo
Amber International Raises $25.5M to Expand $100M Crypto Reserve Strategy
Amber International Holding (AMBR), a crypto trading firm Amber Group subsidiary, said it raised $25.5 million in a private placement to expand its $100 million Crypto Ecosystem Reserve, a fund designed to support strategic growth across blockchain networks. The raise, announced Thursday, was priced at $10.45 per share, which is a 5% discount to the company's three-day volume-weighted average trading price and drew participation from Pantera Capital, CMAG Funds, Kingkey Financial International, and others. The company issued over 12 million Class A shares, equal to about 2.44 million ADSs, on Nasdaq. Amber International launched the reserve earlier this year to make long-term bets on blockchain infrastructure. Since then, the firm has allocated funds toward Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), and it's now extending coverage to Binance Coin (BNB), Ripple's XRP, and Sui (SUI), according to the press release. The firm said it is using the reserve to align itself with developers and protocols operating on these networks, offering them capital, liquidity, and potentially product support. Amber International pointed to growing demand among institutional clients for real-world asset tokenization and emerging applications like AgentFi, which uses smart contracts to automate financial services. The move reflects a broader trend among crypto-native firms building treasury strategies to bolster their balance sheets and support ecosystem stability and long-term innovation, especially as venture capital retreats and funding cycles become more cautious. Sign in to access your portfolio
