A group of prominent crypto veterans, known as the 'Princeton Mafia', has propelled digital asset treasury (DAT) firms to raise a record $15.4 billion this year. Key figures include Mike Novogratz of Galaxy Digital, Dan Morehead of Pantera Capital, and Ethereum co-founder Joseph Lubin. These firms focus on raising capital to acquire and hold cryptocurrencies, benefiting from the SEC's stance that most tokens are not securities. The trend, inspired by strategies from Michael Saylor, highlights the growing institutional interest in digital assets. However, the market remains volatile, as evidenced by the recent declines in SharpLink and BitMine shares following their stock sale announcements.