Peter Thiel just made a quiet but loud move. He and Founders Fund have fully exited their position in Ethereum treasury firm ETHZilla. The confirmation came through a fresh 13G filing with the SEC. That is a sharp pivot. Just months ago, Thiel’s entry sent the stock flying more than 90%. Now he is out. The timing raises eyebrows. It suggests that institutional enthusiasm for this Ethereum treasury model may be cooling, especially with broader market volatility back in focus. Key Takeaways: Total Exit: ...

Core Viewpoint - The People's Bank of China and seven other departments issued a notification to further prevent and address risks related to virtual currencies and related activities, emphasizing strict regulation and the prohibition of illegal financial activities [1][3]. Background - The notification was prompted by the resurgence of speculative activities in virtual currency trading, which had previously disrupted the economic and financial order and endangered public property safety. The authorities aim to enhance regulatory policies to address new challenges and maintain national security and social stability [3]. Definition of RWA Tokenization - The notification provides a first-time definition of Real World Asset (RWA) tokenization, which involves converting asset ownership and rights into tokens using encryption and distributed ledger technology. Activities related to RWA tokenization without approval from regulatory authorities are deemed illegal [5]. Strict Regulation - The notification emphasizes blocking cross-border regulatory loopholes, stating that domestic entities and their controlled overseas entities cannot issue virtual currencies abroad without approval. It also stresses the importance of maintaining monetary sovereignty, particularly regarding stablecoins pegged to the Chinese yuan [7]. Overseas Business Conduct - Domestic entities engaging in RWA tokenization abroad must adhere to strict regulatory requirements, ensuring compliance with local and international regulations. All such activities require approval or filing with relevant authorities [9]. Central-Local Coordination - The notification outlines a framework for central-local coordination in risk prevention and management, with central authorities establishing mechanisms for risk monitoring and local governments responsible for implementing these measures effectively [10].