According to BitJie Wang, ETHZilla Corp., a cryptocurrency company backed by billionaire Peter Thiel, has sold $74.5 million worth of Ethereum (ETH) to repay debts, as revealed in recent filings with the U.S. Securities and Exchange Commission (SEC). The move comes just four months after the company rebranded from 180 Life Sciences Corp., which had shifted its focus to accumulating the second-largest cryptocurrency by market cap.
ETHZilla Sells $74.5M in ETH to Repay Debts
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Summary
ETHZilla Corp., a Peter Thiel-backed crypto firm, sold $74.5M in ETH to repay debts, according to SEC filings. The company rebranded from 180 Life Sciences just four months ago. ETH price dipped slightly following the news. Traders are now watching altcoins to watch for potential market shifts.
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