Peter Thiel-Backed ETHZilla Dumps $74.5M in ETH, Abandons Treasury Strategy – What Went Wrong?

ETHZilla has sold 24,291 ETH for $74.5M to redeem secured convertible notes, trimming holdings to about 69,800 ETH. The Nasdaq firm has dropped its mNAV dashboard and has shifted disclosures to revenue and cash flow as shares have fallen about 96% from August highs.
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