TL;DR

Wall Street guru Tom Lee has quietly scooped up a whopping $8.2 billion worth of ETH through his BitMine vehicle—making it the single largest corporate holder of Ethereum. Backed by big names like ARK and Founders Fund, Lee’s “Wall Street Convergence” thesis isn’t about saving Ethereum, it’s about owning it—and he’s even thrown out a jaw-dropping $16,000 ETH price target.

Why It Matters

This move could supercharge crypto adoption or spark systemic risk if one player holds too much sway. Even Ethereum co-founder Vitalik Buterin is raising eyebrows about potential conflicts of interest. Strap in: this isn’t a rescue mission, it’s a takeover play.

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