Peter Thiel-backed ETHZilla to acquire 15% stake in Satschel for $15M
Crypto Briefing
Peter Thiel-backed ETHZilla is acquiring a 15% stake in Satschel for $15 million.Summary
ETHZilla, a publicly traded company backed by Peter Thiel that is transitioning its business model from biotech to an Ethereum-focused public treasury strategy, announced it will acquire a 15% stake in Satschel for $15 million. Trading under the ticker ETHZ following a recent rebrand, this investment is a key strategic move in ETHZilla's evolution. The company has also been raising funds through convertible debentures, engaging in OTC transactions for share repurchases, and executing a reverse stock split to stabilize its share price.
(Source：Crypto Briefing)