cryptoperformanc

ETHZilla shares dropped nearly 30% on Friday after shareholders filed to sell up to 74.8 million convertible shares, raising concerns about dilution.

The company, which rebranded from biotech firm 180 Life Science earlier this month, holds over $349 million in ether and $238 million in cash.

Despite backing from Peter Thiel and strong crypto market performance, ETHZ’s stock fell even as the broader market and ether prices moved higher.
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