In accordance with PANews, ETHZilla has sold 24,291 ETH, valued at approximately $74.5 million, as part of its redemption of outstanding senior secured convertible bonds. The company plans to use the majority of the proceeds for the redemption. ETHZilla stated that its value will be primarily driven by revenue and cash flow growth from its RWA tokenization business, and will discontinue its mNAV dashboard on its website while continuing to update its balance sheet regularly. ETHZilla will also report any material changes in its ETH treasury holdings or share counts in filings with the U.S. SEC and social media posts.
ETHZilla Sells 24,291 ETH to Redeem Bonds, Shifts Focus to RWA Tokenization
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Summary
ETHZilla has sold 24,291 ETH, valued at around $74.5 million, to redeem senior secured convertible bonds. The firm will use most of the funds for the redemption. ETHZilla said its value will come from growth in its RWA tokenization business. It will shut down its mNAV dashboard but keep balance sheet updates. The company will report major changes in ETH holdings or share counts in SEC filings and on social media. As liquidity and crypto markets evolve, ETHZilla’s moves align with efforts to maintain compliance, including Countering the Financing of Terrorism standards.
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