crypto

Yaël Bizouati-Kennedy7/21/25

Ether Machine to launch via SPAC deal with $1.5 billion backing and 400,000 ethereum

A newly formed public company, The Ether Machine, created via a blank-check company merger with Dynamix Corporation, will trade on the Nasdaq under the ticker symbol “ETHM.” The deal is “expected to deliver over $1.6 billion of gross proceeds, including over $1.5 billion of fully committed financing.” It aims to launch with 400,000 Ethereum “in a public vehicle for pure-play institutional-grade exposure to Ethereum and ETH-denominated yield,” according to a press release.

Shares of Dynamix were up more than 28% in early trading Monday. Meanwhile, ethereum, the second-largest crypto by market cap, is on a roll, up 25% in the past week, thanks partly to the passage of the GENIUS Act. The act provides a regulatory framework for stablecoins, most of which are on the ethereum blockchain.

“The Ether Machine provides secure, liquid access to Ether — the digital oil that is powering the next era of the digital economy,” Andrew Keys, cofounder and chairman of The Ether Machine, said in the release.

Keys, a Consensys cofounder, contributed $645 million (representing 169,984 ethereum), while institutional and strategic investors, including Blockchain.com, Kraken, and Pantera Capital, contributed more than $800 million.

The Ether Machine is the latest entry to a growing trend of companies choosing to build digital asset reserves based on ethereum, including SharpLink Gaming, BitMine, and BTCS.

More Crypto

Yaël Bizouati-Kennedy

Abra CEO: This is not bitcoin’s “worst time ever” and advises “when in doubt, zoom out”

Over the last 12 years, Bill Barhydt has lived through “multiple 70% bitcoin drawdowns.”

bitcoins on the eyes

crypto

Sage D. Young2/9/26

Meme coins have lost all their 2026 gains and continue to dive

Despite having an early lead in year-to-date gains, meme coins have round-tripped and bled even more.

For example, frog-based token pepe was up 75% in the first four days of January, but is now about 8% lower than where it started the year. Dogecoin, shiba inu, bonk, pengu, dogwifhat, and trump tell a similar story: posting a positive gain and then slumping into the red.

Screenshot 2026-02-09 at 11.32.10 AM.png — The year-to-date price performances of the top meme coins by market capitalization (TradingView)

Meme coins, cryptocurrencies based on internet jokes that are often critiqued for lacking utility, are reflexive: they can lead gains during bullish market conditions, but see sharper declines in bearish ones. The entire category of meme coins has shed 25.8% of its valuation in the year so far, data from blockchain analytics firm Artemis shows.

The price action of meme coins comes amid a broader market decline that saw bitcoin drop to $63,000 last week as its peers revisited cycle lows.

“The market has, in large, been bleeding, whether major, altcoin, or meme,” according to Nicolai Søndergaard, research analyst at on-chain data firm Nansen. “It is not surprising to me to see that larger memes as well have been trending down.”

He told Sherwood News, “If we also consider the fact that there are less active wallets now compared to a few months ago, it also makes sense that larger ‘household’ memes would decline as money shifts around to the next shiny thing.”

Yaël Bizouati-Kennedy

Bernstein analyst says “bitcoin bear case is the weakest in its history,” maintains $150,000 price target

Another analyst noted that at a price level of $70,000, 9.3 million bitcoin are now underwater, the highest level since January 2023.

Bitcoin ATM In Madrid

crypto

Sage D. Young2/6/26

XRP bouncing back faster than its peers after crypto market downturn

XRP is seeing the strongest relief bounce on Friday among its peers following the broad market downturn in crypto.

XRP hit its lowest mark since 2024 on Thursday, but the price of the cryptocurrency has increased roughly 20% in the last 24 hours, outpacing bitcoin and ethereum, which have seen 6.5% and 5.2% gains, respectively. Dogecoin has climbed 8% and solana is up 5% in the same period, data from CoinGecko shows.

XRP’s “price tends to amplify market movements,” Kaiko research analyst Thomas Probst told Sherwood News. “Markets are experiencing a phase of liquidity contraction with increasing volatility. Therefore, rebounds can be frequent, even if they are rarely sustained over the long term.”

The relief comes amid increased activity on the XRP Ledger. Crypto analytics firm Santiment flagged that, during the dip, XRP Ledger saw a four-month high of “whale transactions” over $100,000 and a six-month high of unique addresses on the network in one eight-hour candle. “These are both major signals of a price reversal for any asset,” the firm said.

Ripple, the company closely tied to XRP and its largest holder, said in a Thursday blog post that XRP is “at the heart of every institutional use case,” such as stablecoin payments, tokenized collateral, and lending markets.

In an updated road map for the XRP Ledger, the firm outlined upcoming features that act as a “building block for composable financial ecosystems.” These features include a lending protocol, confidential transfers using zero-knowledge proofs, and a new layer of programmability to escrow primitives.

Meanwhile, spot XRP ETFs absorbed $5.9 million worth of inflows on Thursday, helping the week remain in the black at nearly $24 million.

Yaël Bizouati-Kennedy

Bitcoin rebounds after dreadful day that saw $1.26 billion in liquidations

CoinMarketCap’s Crypto Fear and Greed Index is at an all-time low of 5, representing “extreme fear.”

Bitcoin Continues Months-Long Steep Decline In Value

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2026 Sherwood Media, LLC