Ether Machine Raises $654M in ETH Ahead of Nasdaq Listing

Quick Highlights Ether Machine raises 150,000 ETH in private ￰0￱ veteran Jeff Burns joins board of directors. $2B in crypto assets plus $367M in fiat ￰1￱ Machine Secures $2 Billion in ETH Ahead of Nasdaq Listing Ether Machine has raised more than 150,000 ETH in private funding, Reuters reported, citing company ￰2￱ investment is part of the company’s preparation for its upcoming Nasdaq ￰3￱ Burns, a longtime supporter of the Ethereum ecosystem, will join Ether Machine’s board of directors as part of the ￰4￱ funding is expected to arrive in the company’s corporate wallet this week. A Strategic Move in Crypto Treasury Management The funding is part of Ether Machine’s treasury management ￰5￱ listed on Nasdaq, the company expects to hold more than 495,000 ETH (worth over $2 billion) along with an additional $367 million in fiat currency to acquire more ￰6￱ investing their treasuries in cryptocurrencies are increasingly using instruments like convertible debt or preferred stock to minimize capital dilution while maximizing the amount of crypto per ￰7￱ Plans for Growth and Financing ”Between debt issuance and network returns that exceed ETFs, we believe we can maintain a multiple relative to mNAV on an ongoing basis,” said Andrew Keys, co-founder and chairman of Ether ￰8￱ company is also continuing to raise ￰9￱ third round of financing, aiming to raise $500 million, is expected to start on Wednesday, September 3, and will be led by ￰10￱ Machine’s bold move reflects growing confidence in cryptocurrency as a treasury asset and positions the firm for an ambitious Nasdaq debut.