ETHZilla liquidates $74.5M in Ether to redeem convertible debt
Cointelegraph
ETHZilla sold 24,291 Ether for $74.5 million to redeem outstanding senior secured convertible notes.Summary
Crypto treasury company ETHZilla disclosed in an SEC filing that it sold 24,291 Ether tokens for $74.5 million, averaging $3,068.69 per token, to redeem its outstanding senior secured convertible notes. This sale leaves the company with approximately 69,800 ETH on its balance sheet as of Friday. ETHZilla, which rebranded from 180 Life Sciences Corp in July to focus on Ether investment, has seen its stock decline significantly this year. This action reflects a broader trend where digital asset treasury companies are selling holdings to strengthen balance sheets amid the crypto market downturn, similar to recent moves by FG Nexus and Sequans Communications.
(Source：Cointelegraph)