180 Life Sciences has decided to transition its focus from biotechnology to cryptocurrency, securing $425 million to create a corporate ETH treasury.
Shift from Biotech to Ethereum
180 Life Sciences, previously involved in anti-inflammatory drug research, announced its intent to rebrand as ETHZilla and convert nearly all its treasury reserves into Ethereum. The $425 million private placement, led by major players in the crypto space, is expected to close by August 1.
ETHZilla's Strategy in DeFi
ETHZilla aims for active participation in Ethereum's financial ecosystem. Electric Capital has been appointed to manage its assets, deploying strategies such as staking for basic rewards, liquidity provision in DeFi markets, and private lending agreements. CEO Blair Jordan stated that this strategic direction is based on high investment reliability.
Expansion of Corporate ETH Treasuries
According to a recent report by Standard Chartered, corporate ETH treasuries currently hold 1% of Ethereum's circulating supply, and this figure could grow to 10%. Investors like BitMine and SharpLink Gaming are actively accumulating Ethereum assets, highlighting increasing interest in this market.
180 Life Sciences' transition into the cryptocurrency space as ETHZilla reflects not only the company's strategic shift but also current trends in a market where corporate treasuries are starting to actively engage in financial ecosystems.
