As reported by Forklog, a group of influential crypto industry veterans, including Mike Novogratz of Galaxy Digital, Dan Morehead of Pantera Capital, and Ethereum co-founder Joseph Lubin, are driving a surge in digital asset treasury (DAT) firms. These companies raise capital to buy and hold cryptocurrencies, with around 85 such firms securing a record $15.4 billion since the start of the year. The term 'Princeton Mafia' refers to their shared history at Princeton University in the 1980s. The trend has intensified after the SEC indicated most tokens would not be classified as securities, enabling strategies popularized by Michael Saylor. However, the market carries high risks, as seen in the sharp declines of SharpLink and BitMine shares following stock sale announcements.
Princeton Mafia Attracts $15.4B in Digital Asset Treasury Firms
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