Nasdaq-listed 180 Life Sciences reportedly plans to raise $425 million for an Ethereum treasury and rename itself to ETHZilla Corporation.
Unverified Financing by 180 Life Sciences
Reports from ChainCatcher suggest that 180 Life Sciences aims to raise $425 million to create an Ethereum treasury, with a potential renaming to ETHZilla Corporation. This transaction allegedly involves major investors, including Harbour Island and Electric Capital. However, no official statements from the company or the listed investors have surfaced, leaving the accuracy of these claims uncertain.
Speculations on Ethereum Market Impact
The proposed treasury aims to boost institutional adoption of Ethereum, potentially impacting its market valuation. Nevertheless, the lack of official validation has rendered any market impact currently untraceable. The price of Ethereum remains relatively stable despite fluctuating narratives surrounding these reports, and no significant statements from key financial figures have emerged.
Reactions to Corporate Crypto Investments
Historically, instances of public companies heavily investing in cryptocurrencies—such as MicroStrategy's Bitcoin strategy—have led to significant price reactions and increased institutional flows. Currently, Ethereum has shown a 114.62% gain over the past 90 days, standing at $3,780.89 with a market cap of $456.39 billion. However, experts underline that without concrete evidence of 180 Life Sciences' reported financial actions, current discussions regarding Ethereum's market impact remain speculative.
Without further confirmation from 180 Life Sciences and involved parties, discussions surrounding the reported financing stay in the realm of speculation. Future confirmations may alter investment strategies and valuations surrounding Ethereum.
