Medici Level Up with Andrew Keys, Chairman of Ether Machine

In this episode of Level Up, David and Sean sit down with Andrew Keys, co-founder and chairman of Ether Machine. Andrew discusses why Ethereum is positioned as the backbone of the next internet iteration and breaks down Ether Machine’s unique approach to yield generation, risk management, and growth through strategic M&A. He also compares the DAT landscape, explains Ether Machine’s SPAC strategy, and shares his take on staking, re-staking, and low-risk DeFi. This conversation is essential for anyone following digital asset treasuries and Ethereum-native finance.

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Key Points From This Episode:

[00:00:00] Introduction

[00:13:00] Andrew introduces the Ether Machine concept and staking strategy

[00:14:32] Overview of Ether Machine's position in the ETH DAT ecosystem

[00:20:46] Introducing Andrew Keys and his Ethereum background

[00:21:24] Andrew’s early role in Ethereum and Consensys

[00:28:39] Why Ethereum is the foundation for the next internet

[00:32:28] The evolving institutional landscape and blockchain adoption

[00:34:38] Comparing Ether Machine to ETFs and other DATs

[00:44:07] Ether Machine's SPAC structure and committed capital

[00:47:21] SPAC vs. reverse takeover: long-term tradeoffs

[00:50:22] Building the Ether Machine team and in-house capabilities

[00:53:18] Staking vs. re-staking vs. DeFi: capital allocation plans

[00:55:21] Expected yield and how Ether Machine achieves it

[00:57:32] Protocols and strategies under consideration for on-chain yield

[00:59:08] Risks DATs face in downturns and Ether Machine's mitigation strategies

[01:04:12] Capital structure: thoughts on convert and preferred share issuance

[01:05:07] Using capital and yield to defend NAV in market downturns

[01:06:10] Criteria for M&A opportunities and consolidation logic

[01:07:08] Final thoughts on catalysts and Ether Machine’s institutional edge

Links:

The Medici Network: https://www.medici.network/ 

Podcast Site: https://levelup.medici.network/ 

Interested in being a Protocol Guest? Connect with Elmira on X: https://x.com/elmira_yilham 

Co-Hosts

David Grider, Finality Capital - https://x.com/David_Grid

Sean Farrell, Fundstrat Global Advisors - https://x.com/SeanMFarrell

Guest  

Andrew Keys, Ether Machine

X - https://x.com/AK_EtherMachine

LinkedIn - https://www.linkedin.com/in/andrewpkeys/

Production and editing by The Podcast Consultant - https://thepodcastconsultant.com/