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The ETHZilla team recently joined us on the Bankless podcast, sharing fresh insights into their strategy and vision as one of the newest players in the ETH treasury space.
With backing from renowned investor Peter Thiel and a DeFi-centric approach to corporate ETH holdings, they're building something that goes well beyond the standard Digital Asset Treasury (DAT) playbook.
The company that would become ETHZilla first started as 180 Life Sciences Corp., developing biotech drugs for chronic pain and inflammation. This wasn’t their only venture though, they also experimented with software-driven gaming before making their pivot to Ethereum in early August. Ramping up quickly, between August 12-18, they rebranded to ETHZilla (ticker: ETHZ) and raised $425M through a PIPE with over 60 investors. For context, a PIPE (private investment in public equity) lets public companies sell shares directly to large investors in private deals, raising capital quickly without the standard market processes.
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