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ETHZilla Shares Triple as Peter Thiel Takes 7.5% Stake
Shares of 180 Life Sciences Corp., now rebranding as ETHZilla, jumped over 200% on Tuesday. The stock rose from $3.34 to $10.24, adding about $1 billion to the company’s value. The surge happened after a filing showed that Peter Thiel’s investment groups bought a 7.5% stake in the company.
ETHZilla also revealed it owns 82,186 ether (ETH), bought at an average price of $3,806.71. That stash is now worth around $349 million. On top of that, the company still has $238 million in cash, thanks to two recent fundraisers totaling $581 million.
ETHZilla plans to stake its ether (lock it up to earn rewards) through a deal with Electric Capital. This move turns the company into a way for big investors to get exposure to Ethereum through the stock market.
The company used to focus on developing drugs for inflammatory diseases, but now it’s shifting fully into crypto and Ethereum—just as ether trades near $4,500, its highest price since 2021.
#ETHZilla
#PeterThiel
#Ethereum
#ElectricCapital
#NASDAQ
ETHZilla also revealed it owns 82,186 ether (ETH), bought at an average price of $3,806.71. That stash is now worth around $349 million. On top of that, the company still has $238 million in cash, thanks to two recent fundraisers totaling $581 million.
ETHZilla plans to stake its ether (lock it up to earn rewards) through a deal with Electric Capital. This move turns the company into a way for big investors to get exposure to Ethereum through the stock market.
The company used to focus on developing drugs for inflammatory diseases, but now it’s shifting fully into crypto and Ethereum—just as ether trades near $4,500, its highest price since 2021.
#ETHZilla
#PeterThiel
#Ethereum
#ElectricCapital
#NASDAQ
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