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2w ago

180 Life Sciences Completes $156M Convertible Note to Expand ETH Holdings and Attracts Thiel Investment

It holds more than $349 million of ether ready for Electric Capital’s on-chain yield programs.

Peter Thiel discloses 7.5% stake in Ethereum treasury ETHZilla
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Overview

  • 180 Life Sciences issued $156 million in convertible notes due 2028 to fund further ether acquisitions.
  • The company’s treasury now includes 82,186 ETH valued at about $349 million alongside $238 million in cash.
  • Executive Chairman McAndrew Rudisill said more than $350 million of capital has been deployed since the initial $425 million PIPE.
  • The firm plans to rebrand as ETHZilla and engage Electric Capital to run on-chain yield strategies designed to outperform traditional staking.
  • Shares surged over 230% intraday after the note closing and an SEC filing revealed a 7.5% stake by Peter Thiel, while observers caution that high leverage and concentrated ETH holdings carry systemic risks.