RaaS #455: The Ether Machine Commits $1.5B To ETH!

Solana Intros BAM, NFTs Roar Back To Life, and Moar!

Grok refused to pick a winner for Crypto Rover’s $1K ETH/USDT giveaway, citing prior misconduct. The refusal followed a red flag from ZachXBT, who had exposed Rover in 2024 for accepting $10K and 1% token supply to promote a project, then profiting ~40 ETH via a pump-and-dump.

Kaito is revamping Yapper Leaderboards with a new reputation threshold to reduce noise and reward genuine creators. Alongside, it’s launching gKAITO, a unified contribution score across Thought Leadership, Attention, Participation, Ownership, and Culture, with perks like fee sharing and deal access.

Andrew Keys unveils The Ether Machine, a $1.5B+ public ETH-native company built to generate yield through staking, restaking, and DeFi. Positioned as Ethereum’s institutional backbone, it combines active treasury management, infra services, and ecosystem support to amplify ETH’s role in global finance.

StablecoinX Inc. raised $360M, including $60M in ENA from Ethena to buy ENA and list on Nasdaq under “USDE.” $260M will be used to accumulate ENA over 6 weeks (~8% of supply). The treasury aims to compound ENA/share while riding the digital dollar boom.

ETH treasury accumulation is ramping up. It’s not only The Ether Machine but BTCS grows to 55,788 ETH, and GSQ Holdings adds 8,351 ETH, signaling a sharp uptick in institutional ETH positioning.

Most people don’t go broke in crypto from one trade. It’s death by a thousand habits. They size wrong, chase pumps, ignore PnLs, and spend like they’re still up bad. The smart ones build systems, spot narratives early, and off-ramp before it’s trendy.

Solana’s transaction pipeline just got a serious upgrade. BAM introduces programmable, private, and verifiable block-building via secure enclaves and Plugins. Built by Jito Labs, BAM enables custom sequencing logic, reduces negative MEV, and unlocks new value flows, setting Solana up as the decentralized NASDAQ.

We don’t do that here!

Market makers aren’t the villains, you’re just outmatched. Adonis unpacks Akilesh Potti’s take on why crypto projects keep getting burned by MM deals. Projects cry foul, but often sign without grasping structured risk or adverse selection.

A hacker drained $44M from CoinDCX, later bridging the funds to Ethereum via Mayan Bridge. Now holding 11,460 ETH (~$46M), the attack mirrors Lazarus Group tactics. While CoinDCX says user funds are safe, Cyvers warns of potential secondary breaches due to lingering internal access risks.

BitGo has confidentially filed for a U.S. IPO, joining Grayscale in signaling renewed interest in public crypto listings under the Trump administration. With over $100B in assets under custody, BitGo’s filing follows Circle’s blockbuster IPO and hints at a growing pipeline of crypto equity offerings.

Top Gainers: DIA, MANYU, TRWA, CULT, BLOCK.

NFTs are back as ETH and SOL pump. The total NFT market cap has doubled to $6.3B in under a month. CryptoPunks led the charge, with one whale sweeping 45 Punks for $8M. Traders are rotating into risk-on assets, hinting at a broader altcoin rally as Bitcoin dominance slips.

Ethereum is catching up to Bitcoin in 2025. While BTC leads YTD at +26.02% vs ETH’s +17.71%, Ethereum has surged +118.61% in the last 3 months, far outpacing Bitcoin’s +27.46%, narrowing the gap in performance rapidly.

That’s all for today!