Restart of NASDAQ listing for ETHZilla brings $419 million Ethereum reserve into focus
In a significant shift, ETHZilla, the innovative corporation, has announced that it is pivoting its focus from biotech to Ethereum treasury management. This change comes as ETHZilla aims to leverage Ethereum's dual role as a store of value and a yield-generating asset.
The diversified approach by ETHZilla could provide stability if the crypto markets turn volatile. Key DeFi founders, including Sreeram Kannan (Founder of EigenLayer), Lido's Konstantin Lomashuk, Compound's Robert Leshner, and other prominent Ethereum ecosystem leaders, are also investors in ETHZilla.
ETHZilla has raised $565 million in private funding, with backing from over 60 institutional and crypto-native investors. Among these are Polychain Capital, Electric Capital, and Peter Thiel's Founders Fund.
In partnership with Electric Capital, ETHZilla aims to maximize returns through staking, DeFi lending, and liquidity provisioning. Electric Capital will serve as the external asset manager, implementing a sophisticated on-chain yield generation and risk management strategy.
The future of ETHZilla now hinges on Ethereum's performance. However, ETHZilla's legacy biotech assets remain part of the portfolio, with plans to monetize intellectual property.
Notably, ETHZilla's gaming division continues to operate independently. This pivot marks a significant step for ETHZilla, as it positions itself as a key player in the Ethereum ecosystem.
The DeFi founders backing ETHZilla serve as part of ETHZilla’s DeFi Council and executive team. They contribute their protocol expertise and leadership to guide the Ethereum treasury strategy and capital deployment to accumulate ETH and generate optimized yields.
This move follows Faraday Future's pivot to crypto and AI, following faltering car sales. As ETHZilla embarks on this new journey, it is poised to make a significant impact in the Ethereum ecosystem.
Sources: 1. ETHZilla Pivots to Ethereum Treasury Management 2. Key DeFi Founders Back ETHZilla's Ethereum Treasury Strategy 3. ETHZilla Announces Strategic Partnership with Electric Capital 4. ETHZilla's DeFi Council: A Force to be Reckoned With 5. The Role of DeFi Founders in ETHZilla's Ethereum Treasury Strategy
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