ETHZilla Plunges 13.08% Amid Crypto Pivot

On August 14, 2025, 180 Life Sciences (ETHZilla) experienced a significant drop of 13.08% in pre-market trading, reflecting a notable shift in investor sentiment.

180 Life Sciences has recently undergone a strategic transformation, rebranding as ETHZilla Corporation and focusing on building a substantial Ethereum treasury. The company closed a $425 million private placement, which was used to acquire Ethereum (ETH) and implement a yield generation program managed by Electric Capital. This move signals a shift from its traditional biotechnology focus to a more crypto-centric strategy, aiming to leverage the potential of blockchain technology and digital assets.

In addition to its Ethereum holdings, 180 Life Sciences has also announced a $156 million private offering of senior secured convertible notes. This funding will further support the company's Ethereum treasury strategy, allowing it to expand its holdings and implement yield generation programs. The notes are convertible into common stock at a specified price, providing flexibility for future financial maneuvers.

The company's strategic pivot has been met with mixed reactions from investors. While the rebranding and Ethereum treasury strategy have garnered attention and investment, the recent market volatility suggests that there may be concerns about the execution and long-term viability of this new direction. The company's leadership, including the appointment of McAndrew Rudisill as Board Chairman, aims to navigate these challenges and create shareholder value through innovative yield generation programs.