Who’s Pumping $800M Into Crypto?

Who’s Pumping $800M Into Crypto?

New Ether Treasury Firm ‘ETHZilla’ Emerges With $425M Funding And A DeFi Twist.

Nasdaq-listed biotech firm 180 Life Sciences (ATNF) is set to rebrand as ETHZilla after securing $425 million in private funding to pivot toward an ether-focused treasury strategy.

The transaction, structured as a private investment in public equity (PIPE), is expected to close by Aug. 1, the company said in a press release.

It’s backed by sixty institutional and crypto-native investors, including Polychain Capital, Electric Capital, GSR, and founders of major Ethereum-based platforms like Lido, Frax and EigenLayer.

The company plans to use the bulk of the funds to accumulate ether (ETH) as its core treasury asset and generate higher yields than with traditional staking.

Crypto Exchange OSL Group Raises $300M Ahead Of Hong Kong’s Stablecoin Regulation Plan.

Hong Kong-based cryptocurrency exchange OSL Group has raised $300 million in an equity sale.

OSL said it will use the new capital to develop new business initiatives, such as building payment and stablecoin services.

OSL also plans to use the capital to support acquisition plans and bolster its balance sheet.

Hong Kong will start allowing stablecoin issuance under a new regulatory regime taking effect at the start of August.

Ethereum Treasury Protocol ‘ETH Strategy’ Secures $46M Raise.

An Ethereum-based treasury accumulation protocol, ETH Strategy, has raised $46.5 million in presale funding. The round closed Sunday after the project raised 12,342 worth of ETH through three different channels.

The private presale brought in 6,900 ETH, while the public sale collected 1,242 ETH. Additionally, ETH Strategy raised 4,200 ETH using puttable warrants designed for more flexible investor participation.

The protocol revealed that 11,817 ETH will be used for protocol operations, including ETH staking and liquidity provisions, following the plan. The other 525 ETH shall be used to fund development, security audits, team compensation, and community-driven initiatives.

Bitzero Raises $25M For Green Crypto Mining Expansion.

Bitzero, a company based in Vancouver that mines cryptocurrencies and is supported by investor Kevin O’Leary, got $25 million to grow its business. The firm will use the money to buy 2,900 high-tech Bitmain S21 Pro machines, which are great at mining digital currencies efficiently.

According to a press release, these machines will be set up in four to six months and are expected to bring in an extra $10 million a year while making the company’s operations even more cost-effective.

Bitzero runs data centers in North America and Europe that use eco-friendly energy, like hydroelectric power, to mine cryptocurrencies and handle complex computing tasks.

Zodia Markets Raises $18.25M To Fuel International Expansion, Stablecoin Payments.

Zodia Markets, the crypto trading firm majority-owned by Standard Chartered, has raised $18.25 million led by Pharsalus Capital.

The Series A funding round will be used to support Zodia’s international expansion effort and further develop its stablecoin payments services.

Zodia is aimed at financial institutions, offering them a combination of wholesale finance and 24/7 digital asset trading.

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