The Nasdaq-listed biotechnology firm is raising $425 million for its ETH strategy, joining a parade of penny stocks investing in cryptocurrencies as their business flounders. Nasdaq-listed 180 Life Sciences Corp plans to invest heavily in Ether and rebrand as ETHZilla Corporation, a strategic pivot away from its biotechnology origins amid mounting losses. On Tuesday, the company announced a $425 million private placement aimed at building an Ether (ETH) treasury reserve. The funds are being raised through a private investment in public equity (PIPE) deal involving the sale of common stock, a structure often used by crypto-focused investors. Additionally, the company disclosed it has approval to issue up to $150 million in debt securities. Read more
Bitcoin prepares for an impulse move, and if the upside is taken, ETH, BNB, AVAX and PENGU could explode higher. Key points: Bitcoin is preparing for a range expansion in the next few days, and the trend favors the bulls. ETH, BNB, AVAX, and PENGU are looking set for a possible upside move. Read more
ETH continues to show strength with record open interest and high network activity as bulls expect an upside breakout soon. Key takeaways: Ether’s open interest has doubled since June 22 to a record high of $58 billion. High network activity and a record stablecoin supply signal strong demand. Read more