Shares of the main global collapse today in Nasdaq after the company announces a major strategic shift toward Ether (Eth) as the main owner of Treasury. The firm announced plans to allocate $ 200 million to ETH, funded by a private placement of 40 million common stock warrants worth $ 5 each.
The move is aligned with the main universal of other corporations building ETH wealth. According to one announcement, the company aims to offer “multiple value drivers beyond the appreciation of ETH prices,” including staking rewards and exposure to tokenized real-world assets.
Strategic investors who support the Pivot include Galaxy Digital, to manage the company’s Eth Treasury; Kraken, which will help with staking and treasury operations; and Hivemind capital. As part of the pivot, the main universal change its name in “FG Nexus.”
Despite the high profile backing, the reaction of the announcement markets is negative, with a sharing of 13.7% during the day, According to In Google Finance.
The company joined a growing list of companies that adopted ether’s treasury techniques, following a path coated with early Bitcoin (BTC) adopters. According to Standard Chartered, Crypto Treasury Firms Buy 1% of all circulating -switch eths Since the beginning of June, a figure bank projects can rise by 10%.
Bitmine Immersion Technologies, a Bitcoin mining company, is currently the largest ether corporate holder, which is revealed on Monday that it holds 625,000 ETH worth about $ 2.35 billion. Sharplink, a company listed in Nasdaq, is the second largest known holder. Between July 21 and 27, it accumulated $ 290 million worth of ETH at an average price of $ 3,756 per token.
Related: Ethereum to 10: The Top Corporate Eth Holders as Wall Street Eyes Crypto
Ether Machine makes $ 56.9m ETH purchase on Ethhereum anniversary
Ether Machine, a company dedicated to providing grade-institutional exposure to Ethereum infrastructure and yield techniques, also revealed A major ETH purchase on Wednesday. The firm announced that it had obtained about 15,000 ETHs for a total of $ 56.9 million.
“With the clarity of the regulation we just started getting from the DC, large institutions can finally build ready-made production systems in Ethereum and all the cases of use we are talking about for the better part of a decade can finally be a reality,” Ether Machine Co-Founder and CEO David Merin said in Cointelegraph. “I have never been more optimistic about the medium term of prospects for Ethereum.”
The company’s announcements in conjunction with Ethereum’s 10-year anniversary on Wednesday.
Magazine: Tradfi builds Ethereum L2S to i -tacenize trillions in RWWA – within the story
