ETHZilla sold approximately 24,291 ETH for $74.5 million, planning to use the funds to redeem senior convertible bonds and strengthen its capital structure.
The proceeds will be allocated to its real-world asset (RWA) tokenization business, aiming to maximize revenue and increase financial flexibility. The company will halt the mNAV dashboard and update balance sheets regularly. The firm is shifting to a more operational and cash-flow–focused approach.
ETHZilla CEO McAndrew Rudisill stated that the move will optimize the capital structure and support growth strategies. At the time of the sale, Ethereum (ETH) was trading just below $3,000, with a $20 billion trading volume that surged 93% in the past 24 hours.
Source: https://x.com/ETHZilla_ETHZ/status/2003096385021759668
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