Blank-check firm Dynamix announced Monday it will merge with another entity to form the Ether Machine, according to The Wall Street Journal. The new holding company will manage over $1.5 billion in ether. The deal is backed by over $800 million in equity financing from crypto firms Kraken and Blockchain.com. It also includes a $645 million anchor investment from co-founder Andrew Keys, who will serve as chairman. David Merin will be CEO, and investor Jonathan Christodoro will serve as vice chairman. Ethereum is a blockchain platform used for transactions and executing smart contracts. Ether is the cryptocurrency that powers these activities on the Ethereum network. The deal reflects a bet that investors will continue to support crypto-heavy businesses under the pro-crypto Trump administration.
