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ETH treasury stock ETHZilla announced the sale of 24,200 ETH to repay debts and will transition to focus on RWA tokenization business.
On December 22, the US stock market listed company ETHZilla announced on social media that, as part of the redemption of its issued priority secured convertible notes, ETHZilla has sold 24,291 ETH, raising approximately 74.5 million USD. ETHZilla plans to use all or most of the proceeds for the redemption. Looking ahead, the company believes that its value will mainly come from the revenue and cash flow growth brought by the tokenization of real-world assets (RWA) business. Therefore, starting today, we will stop updating the “modified net asset value” (mNAV) dashboard on the official website but plan to continue providing regular updates on our balance sheet. In addition, ETHZilla will continue to disclose any significant changes regarding our ETH Holdings and/or share count through SEC filings and social media. As of the time of publication, ETHZ has fallen 3.91% in contrast to the overall rise in the US stock market today.