Peter Thiel's Founders Fund backs ETHZilla, stock soars 200%
ETHZilla (formerly 180 Life Sciences) just saw its stock rocket over 200% after Peter Thiel's Founders Fund picked up a 7.5% stake—snapping up roughly 11.6 million shares and pushing prices from $3.34 to $10.24 in a day.
Thiel's move signals serious crypto treasury play
Thiel's move is a big nod to crypto as a serious treasury play, not just hype.
ETHZilla has rebranded, revealed it holds $349 million in Ethereum plus $238 million cash, and is now all-in on yield-focused crypto strategies—something more small companies are eyeing.
ETHZilla raised $581 million for Ethereum strategy
ETHZilla raised $581 million this year for its Ethereum strategy, using staking and liquidity moves managed by Electric Capital.
Executive Chairman McAndrew Rudisill emphasizes their focus on smart capital use and real revenue—not just sitting on coins—making ETHZilla one to watch as crypto markets keep everyone guessing.