X @Bankless

Company Overview - ETHZilla, formerly 180 Life Sciences Corp, pivoted to Ethereum and rebranded in early August [1] - The company secured $425 million via a private investment (PIPE) with over 60 investors [1][6] - Peter Thiel's Founders Fund holds 75% of ETHZilla, acquiring 116 million shares [4] Treasury Management & Strategy - ETHZilla partnered with Electric Capital for yield management, initially holding 82186 ETH on August 12 [2] - As of August 27, ETHZilla holds 102237 ETH, bought at $394872 for $403 million, now valued at $466 million [3] - The company's onchain strategy leverages Electric's infrastructure for yields up to 15%, surpassing traditional options [4] - ETHZilla aims to be a top-3 ETH treasury, focusing on long-term ETH growth and yields [5] DeFi Focus & Opportunities - ETHZilla's strategy includes daily ETH purchases via ATM sales and a $250 million buyback for shares above NAV [6] - The company views DeFi's current phase as a "2005-08 sweet spot," scaling protocols like Aave, Uniswap, and Lido [7] - ETHZilla's DeFi-centric approach aims to weather market shakeouts by funding liquidity pools and reinforcing Ethereum's infrastructure [7]