The renowned firm, which now has 94,675 ETH, is betting in the long -term value of Ethereum, with the support of Polychain, Founders Fund and Key Defi Founders.
Summary
- Ethzilla debuts in Nasdaq with an Ethereum treasure of $ 419 million, changing the biotechnology firm 180 Life Sciences.
- Backed by Polychain, Founders Fund and Defi leaders, Ethzilla aims to be a great eth corporate headline.
According to a Press release Dady on August 18, Ethzilla Corporation has officially completed his brand change and transition from the Biotechnology Signature 180 Life Sciences to a dedicated Ethereum (Eth) Treasury vehicle.
The company’s actions began to quote under the new “Ethz” ticket the same day, marking a strategic change to accumulate and manage one of the largest corporate ETH holdings in public markets.
“Today, we are adopting our identity as Ethzilla and our commitment to develop a leading market strategy that seeks to contribute the value of Ethereum to investors in public markets,” said McAndrew Rudisill, executive president of the company’s board of directors.
With 94,675 ETH acquired at an average price of $ 3,902 and now with an approximate value of $ 419 million, the movement indicates a growing institutional hug of Ethereum as an asset of the treasure.
The institutional support and pivot of Ethzilla in Ethereum
According to Ethzilla’s announcement, his treasure strategy is designed to take advantage of Ethereum’s double role as a value reserve and an active performance generator. The company said it has been associated with Electric Capital to maximize yields through participation, defi loans and liquidity supply, positioning the company to benefit from the expanding utility of Ethereum beyond the mere appreciation of prices.
The Biotechnology pivot to the Ethereum Treasury Management occurred after Ethzilla raised $ 565 million in private funds, supporting more than 60 institutional and crypto-national investors.
The list presents a deep bank of both institutional capital and the native builders of Ethereum. Polychain Capital, Electric Capital and Peter Thiel’s Founders Fund Ancla The institutional side, while the founders of Key Defi, including Sreeram Kannan de Eigenlayer, Konstantin Lomashuk of Lido and Robert Leshner of Compuite, provide credibility to the company. His participation suggests confidence not only in the Ethzilla model, but in the long -term viability of Ethereum as an cornerstone of decentralized finance.
While Ethzilla’s treasure strategy dominates the headlines, the company has not abandoned its roots completely. The company said that its inherited biotechnology assets remain part of the portfolio, with plans to monetize intellectual property, and its game division continues to operate. This diversified approach could provide stability if cryptography markets become volatile, although the future of the company now depends on Ethereum’s performance.
