In the past two months, "Digital Asset Treasury (DAT)" has rapidly become one of the mainstream narratives capturing the attention of both the crypto market and Wall Street. From traditional financial giants to native crypto capital, prominent institutions and figures including Tom Lee of Fundstrat, Cathie Wood of Ark Invest, Peter Thiel of Founders Fund, as well as Pantera, GSR, Galaxy, and Primitive, have entered the fray, propelling the rapid rise of this emerging model.
On September 8th, the newly established Worldcoin treasury company, Eightco, surged 50-fold in a single day, once again pushing the DAT model into the spotlight. A closer look behind the scenes reveals the lead investor, MOZAYYX, gradually emerging. In fact, MOZAYYX had already led the investment in the largest ETH treasury company, BitMine, as early as July this year, and further expanded its布局 (bùjú, layout) into DOGE and LTC treasury enterprises. Its strategic path is clear and swift, making it an undeniable behind-the-scenes force in this sector.
I. MOZAYYX: The Secretive Yet Professional Crypto Capital Operator
Among the many cryptocurrency investment institutions, MOZAYYX is perhaps the most mysterious. Its official website displays only the brand name and logo, with no additional information, embodying an aesthetic of minimalist blank space that "says nothing yet conveys much," but also shrouding it in an impenetrable veil.
What truly revealed MOZAYYX's actual profile were the public filing documents from the U.S. Securities and Exchange Commission (SEC). Disclosures show that on June 27, 2025, MOZAYYX registered an exempt private placement with the SEC under the entity "MOZAYYX Onshore Fund LP." The three managers were listed as MOZAYYX GP LP, Xuan Yong, and Matt Gefter.
Subsequently, on July 31st, MOZAYYX successfully raised $15 million under the entity "MOZAYYX TOWER SPV 1 LP." The management team saw minor adjustments, listed as MOZAYYX GP LP, Ying Xuan Yong, and MOZAYYX Management.
Further tracing reveals that MOZAYYX GP LP is the general partner of Mozayyx Management LLC, which is a limited liability company established in Delaware in December 2024, co-founded by Xuan Yong and Matt Gefter, and formally registered with the U.S. SEC as an investment adviser. The company provides customized investment services for high-net-worth individuals and institutional clients through private funds and separately managed accounts.
It is worth noting that slight discrepancies in the names within the SEC filings spark speculation: Xuan Yong and Ying Xuan Yong were used in the exempt offering documents, while the investment adviser registration lists YONG YING XUAN and MATTHEW LEWIS GEFTER. Whether this inconsistency is intentional remains unknown.
Regarding background, public information on Matthew Lewis Gefter is scarce, but his resume includes roles as a Senior Analyst at Kortright Capital, Analyst at Barclays Capital and Cyrus Capital Partners, and earlier service at Lehman Brothers. The other co-founder, Xuan Yong, previously served as a Senior Analyst at Citadel, later founded Workrise Technologies (formerly Rigup), and received support from top venture capital firms like Founders Fund, a16z, and Franklin Templeton.
II. Comprehensive Layout: MOZAYYX's DAT Investment Map
In less than two months, MOZAYYX rapidly entered four crypto treasury companies via PIPE (Private Investment in Public Equity) deals, covering mainstream crypto assets, demonstrating strong execution capability and resource integration.
Eightco Holdings: Transition to WLD Treasury, Surges 50x in a Day
On September 8, 2025, former e-commerce solutions company Eightco announced a $250 million fundraising round to fully pivot towards a Worldcoin treasury strategy. MOZAYYX and institutions like the World Foundation led this round. After the news was released, its stock price soared from $1.5 to $83, a single-day increase of over 50 times.
The company explicitly stated that the raised funds would be entirely used to purchase WLD tokens as its primary treasury asset, with cash and Ethereum as auxiliary reserves. Notably, Cantor Fitzgerald, controlled by the family of U.S. Commerce Secretary Lutnick, served as the financial advisor, while the Winston law firm represented MOZAYYX in completing the relevant legal structure.
BitMine: From Mining Giant to Largest ETH Treasury
As early as July 9th, BitMine announced the completion of a $250 million private placement led by MOZAYYX, with participation from Pantera, Ark Invest, Tom Lee, Peter Thiel, and others. Subsequently, BitMine rapidly accumulated over 2 million ETH, becoming the largest Ethereum treasury company.
More strategically, BitMine signed an advisory agreement with Ethereum Tower, entrusting the latter with the asset management of its ETH treasury. The signatory for Ethereum Tower was none other than Xuan Yong—the co-founder of MOZAYYX. This arrangement shows that MOZAYYX is not only involved on the capital side but also deeply engaged in asset operation.
CleanCore Solutions: Cleaning Company Transforms into DOGE Treasury
On September 2nd, former clean technology company CleanCore Solutions announced a $175 million fundraising round to transition into the first DOGE treasury company. MOZAYYX appeared on the investor list, with other participants including Pantera, GSR, FalconX, and others. The project is jointly supervised by House of Doge and 21Shares for fund management, signifying that meme coins are entering the purview of corporate treasuries.
MEI Pharma: Pharma Company Bets on LTC
On July 22nd, Nasdaq-listed pharmaceutical company MEI Pharma secured $100 million in funding, led by GSR, GSR Capital, and Litecoin founder Charlie Lee, with participation from institutions including MOZAYYX, Parafi, and HiveMind. MEI thus became the first publicly listed company to adopt Litecoin as a treasury asset, expanding the diversity of asset types within the DAT model.
III. Strategic Summary: MOZAYYX's Path to Building a DAT Ecosystem
From ETH, LTC, DOGE, to WLD, MOZAYYX has systematically布局 (bùjú, laid out) treasury strategies for multiple mainstream crypto assets in a very short time, with clear and highly forward-looking investment logic.
More notably, MOZAYYX is not merely making financial investments; by collaborating with various cryptocurrency foundations (such as the Worldcoin Foundation and the Litecoin Foundation) and deeply participating in project design and asset management services, it has constructed a comprehensive support ecosystem for DAT.
Conclusion:
At the intersection where the DAT wave sweeps across traditional finance and the crypto world, MOZAYYX, leveraging its profound traditional finance background, acute sector selection ability, and powerful resource integration efficiency, has become an indispensable key force in this narrative. Its low-profile style, rapid execution, and systematic布局 (bùjú, layout) continue to keep the market highly attentive to its next moves. Without a doubt, MOZAYYX is redefining the meaning and boundaries of "treasury" in the crypto era.
