Crypto Company SELLS ALL THE ETH! 😱

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Oy vey! ETHzilla, that fancy Florida company, had to sell $74.5 million worth of ether! Seventy-four point five MILLION! Can you believe it? They’re practically giving away the digital gold! This is their second big sell-off since October – a clear sign they’re ditching the “Digital Asset Treasury” playbook. It’s a catastrophe, a kvetching mess!

ETHzilla Liquidates $74.5M in ETH to Pay Grumpy Lenders

So, these guys, ETHzilla, they told the government – the SEC, those nosy parkers 🕵️ – that they got rid of about 24,291 ETH. At $3,068.69 a pop! That’s like selling your bubbe’s jewels to pay off a loan shark! 💸 They needed the money to soothe some “senior secured convertible notes” – fancy talk for debts they couldn’t ignore.

According to the government paperwork (ugh, paperwork!), ETHzilla still has around 69,800 ETH left. But that’s way down from before! Remember last October, when they sold $40 million worth? Some people got mad! Can you imagine? Mad at them for trying to stay afloat? Gevalt!

This whole thing makes you wonder about these “digital asset treasury” things. Are they just for show? For bragging rights? Especially when the crypto prices go belly up, it’s an easy source of liquidity, a quick fix. It’s madness, I tell ya, MADNESS! 🤪

ETHzilla says they need to pay off those debts, that’s the new priority. Forget hoarding digital doodads. They’ve got bills to pay!

They’re still thinking about raising more money, maybe selling more ETH, maybe getting investors. They’re also fiddling with “real-world asset tokenization” and blockchain infrastructure – whatever that means. I just want a good pastrami on rye!

And get this! They’re getting “new management.” Two new people! With fancy backgrounds! They want to make sure everything is…kosher. Good! Someone needs to keep an eye on these things.

Other companies are doing the same thing, believe me! Selling their crypto. Apparently, holding onto it like a prized possession isn’t so popular anymore. Who knew?

That billionaire, Peter Thiel, is still behind ETHzilla. He’s into all this DeFi and tokenization stuff. But even he knows when it’s time to sell! When the bills are due, you gotta cut your losses! It’s like my mother always said, “A bird in the hand is worth two in the blockchain!”

So, the word on the street is this: ETHzilla cares more about staying alive than having a big pile of crypto. It’s a sad day for dreams, but a good day for creditors!

FAQ ❓

  • How much ether did they hock?
    ETHzilla sold approximately 24,291 ETH for $74.5 million. Don’t ask me why they needed that much cash!
  • Why did they sell their precious, precious ETH?
    They had some bills to pay, alright? Some creditors were getting a little…persistent.
  • How much ETH is remaining?
    Around 69,800 ETH. Not bad, but it’s a far cry from what they used to have! What a shame!
  • Are they giving up the whole crypto dream?
    Not completely! But they’re prioritizing paying the bills and streamlining, so maybe less speculation and more…actual work?

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2025-12-23 09:10