Sell 24,000 Ether to pay off debts! ETHZilla will abandon the "Coin Hoarding" strategy and shift to RWA tokenization.
ETHZilla (stock code: ETHZ), backed by Silicon Valley venture capital titan Peter Thiel, has transformed into an Ether reserve company for less than half a year but suddenly hit the brakes. ETHZilla confirmed on Monday that it has sold $74.5 million worth of Ether to pay off company debts; at the same time, it announced that the company's strategic focus will shift from simple "Coin Hoarding" to a business model with greater cash flow potential in "real-world asset (RWA) tokenization."
This company, which was formerly the Nasdaq-listed biotech company 180 Life Sciences, undoubtedly poured a cold bucket of water on the hive-like imitation of Strategy's "public company Coin Hoarding craze."
ETHZilla announced on Monday that it has sold 24,291 Ether to redeem the company's outstanding preferred secured convertible bonds.