On August 12, PANews reported that according to SEC filings, PayPal co-founder Peter Thiel and his investment team hold a 7.5% stake in 180 Life Sciences (now renamed ETHZilla), a company focused on building Ethereum corporate treasuries. ETHZilla plans to use the raised funds for Ethereum purchases, yield-generating assets, and iGaming business, among others. ETHZilla's stock rose 11% after the market closed on Monday, and surged about 57% in overnight trading.
On July 16, Thiel's team also held over 9% of BitMine Immersion, which is the largest corporate treasury holder of Ethereum, with reserves valued at nearly $5 billion. Additionally, on July 29, the listed company 180 Life announced plans to raise approximately $425 million through a private placement and transform into an Ethereum treasury reserve company.
