Why ETHZilla is skipping Michael Saylor’s favourite crypto treasury ploy: Leverage – DL News
- ETHZilla closed a $425 million investment to start buying up Ether.
- The red-hot treasury trend is raising concerns among some investors.
- A crash could make for ripe opportunities for deep-pocketed firms.
Another day, another crypto treasury company hits the wire.
The newly formed ETHZilla, formerly known as the Nasdaq-listed biotech firm 180 Life Sciences, closed its $425 million investment across 60 different investors and its subsequent pivot to an Ethereum treasury company on Monday.
It’s an unusual beast. Compared to many of its counterparts, including the grandfather of turning public companies into crypto buying machines, Strategy, ETHZilla is leaving out one key element: leverage.
McAndrew Rudisill, ETHZilla’s incoming chair,…
