Beast Industries CEO Jeff Housenbold on Thursdaycalled BitMine (NYSE:BMNR) “a leader in the Ethereum (CRYPTO: ETH) staking market” critical to stablecoin infrastructure, explaining the company’s $200 million investment.

The Beast Industries Connection

Beast Industries, backed by MrBeast’s media empire with 1.45 billion users, invested $200 million in BitMine earlier this year.  

Housenbold pointed out the strategic rationale on CNBC’s Squawk Box on Thursday, saying, “Ethereum is the backbone of stablecoin and the blockchain,” he added.

He emphasized the importance of the DeFi movement for consumers, highlighting greater access, democratization, lower cost of capital, and the…

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