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3d ago

180 Life Sciences to Become ETHZilla Following $425 Million Ether Treasury Raise

Closing on August 1, the $425 million PIPE positions ETHZilla to build an ether reserve under Electric Capital’s on-chain yield program with DeFi Council oversight

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New ether treasury firm 'ethzilla' emerges with $425m funding and a defi twist
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Overview

  • The $425 million financing is structured as a private investment in public equity and drew commitments from more than 60 institutional and crypto-native backers including Polychain Capital and GSR.
  • Closing by August 1 will mark the formal conversion of the biotech firm’s treasury into ether, completing its shift from anti-inflammatory drug research to a crypto-focused reserve.
  • Electric Capital is tapped to manage the ether holdings via an on-chain yield program that spans staking, lending and liquidity provisioning.
  • A newly formed DeFi Council, featuring Etherealize and leaders from key Ethereum protocols, will guide treasury monetization and governance decisions.
  • Following the announcement, 180 Life Sciences shares fell 7% to $2.69 as markets reacted to the firm's radical pivot toward decentralized finance.