In accordance with HashNews, ETHZilla sold 24,291 ETH, valued at approximately $74.5 million, to repay outstanding secured convertible bonds. The company plans to use the majority of the proceeds for this repayment. ETHZilla stated that its value will be 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 significant changes in its ETH holdings or shares in filings with the U.S. SEC and social media posts.
ETHZilla Sells Over 24,000 ETH to Repay Debt, Shifts Focus to RWA Tokenization
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Summary
ETHZilla sold 24,291 ETH, worth about $74.5 million, to repay secured convertible bonds. The firm will use most of the funds for this repayment. ETHZilla said its value will come from growth in RWA tokenization use cases. The company will shut down its mNAV dashboard but keep balance sheet updates. ETHZilla will report major changes in ETH holdings or shares in SEC filings and on social media. What is RWA tokenization? It refers to real-world assets converted into blockchain tokens.
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