180 Life Sciences Soars After Peter Thiel Acquires 7.5% Stake in Ethereum Treasury ETHZilla
Peter Thiel, the billionaire tech investor and co-founder of PayPal and Palantir, is part of an investor group that holds a 7.5% stake in 180 Life Sciences, which is rebranding as ETHZilla, an Ethereum-focused corporate treasury vehicle, according to a new SEC disclosure.
Shares of 180 Life Sciences jumped over 11% at Monday’s close and surged 62.6% in premarket trading on Tuesday.
180 Life Sciences announced its Ethereum treasury plan in late July.
On Monday, the biotech firm said it sold $156 million in senior secured convertible notes due 2028 to an institutional investor, following a recent $425 million private placement. Proceeds will primarily fund Ethereum purchases, yield-bearing assets, and the company’s iGaming operations, while monetizing legacy biotech IP.
Thiel’s investor group now has stakes in two Ethereum treasury companies. In mid-July, he reported holding over 9% of Tom Lee’s BitMine Immersion, currently the biggest corporate ETH holder with close to $5 billion in its treasury.
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