180 Life Sciences Corp. is changing its name to ETHZilla Corporation after raising $425 million through private investments, aiming to create an Ethereum Treasury Reserve.
Rebranding and Fundraising
180 Life Sciences Corp. announced its transition to an **Ethereum Treasury Reserve** company, rebranding as **ETHZilla Corporation**. It has secured approximately $425 million in funding from private investors, including Harbour Island and Electric Capital.
ETHZilla's Innovation Plans
Key plans for the company include redefining traditional ETH staking methods through a unique on-chain yield generation program. Electric Capital will serve as the external asset manager, focusing on new yield models involving staking, lending, and liquidity provisioning within the Ethereum network.
Market Impact of Ethereum
Ethereum (ETH) is currently priced at $3,819.28 with a market cap of $461.03 billion. The shift of 180 Life Sciences could promote broader adoption of digital asset treasury strategies among public companies, akin to MicroStrategy’s approach with Bitcoin.
The transition of 180 Life Sciences into ETHZilla Corporation may reshape financial norms and influence corporate treasury management strategies in the digital asset landscape.
