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https://www.gate.com/announcements/article/45974
The Ether Machine spent 56.9 million USD to buy ETH to commemorate the 10th anniversary of Ethereum.
The Ether Machine has just announced that The Ether Reserve LLC has purchased nearly 15,000 ETH at a price of 3,809.97 USD/ETH, totaling 56.9 million USD. This is the first step in the long term accumulation strategy, raising the total amount of ETH purchased and committed to 334,757 ETH, with 407 million USD remaining to continue buying in the future.
The transaction was made on the occasion of the 10th anniversary of Ethereum, demonstrating strong confidence in ETH as the "most important asset of the decentralized Internet." Chairman and co-founder Andrew Keys emphasized: "We are beginning the journey to build an institutional-grade ETH treasury for the long term."
The amount of ETH purchased from 97 million USD raised through the previous private funding round. Keys also personally donated 100,000 USD to Protocol Guild, in order to support the core developers of Ethereum – who play a foundational role in the development of the Web3 ecosystem.