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0 -0.00163398692810454 -0.00163398692810454 0.00490196078431377 0 0.00326797385620923 0.00326797385620923 0.00653594771241831
Stock impact report

ETHZilla Stock Sinks After $74.5M Crypto Sale Signaled DAT Retreat [Yahoo! Finance]

ETHZilla Corporation (ETHZ) 
Company Research Source: Yahoo! Finance
With its digital asset treasury strategy under pressure, ETHZilla is pivoting to a more diversified model. ETHZilla Corporation saw its stock slide sharply on Monday, Dec. 22, after the company sold $74.5 million worth of Ethereum to repay debts. With the company refusing to rule out further crypto sales, the move suggests a retreat from the digital asset treasury (DAT) model as ETHZilla reevaluates its crypto strategy. According to a Securities and Exchange Commission (SEC) filing, between Dec. 12 and Dec. 19, ETHZilla sold 24,291 Ethereum (ETH) for approximately $74.5 million. The firm said it plans to use proceeds from the sale to redeem outstanding senior secured convertible notes under an existing redemption agreement that calls for repayment by Dec. 30. Analysts have also highlighted language in the SEC filing that may suggest a retreat from a pure DAT strategy toward a more diversified business model. ETHZilla “plans to continue to evaluate various capital raising Show less Read more
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