Peter Thiel has officially walked away from ETHZilla. His Founders Fund offloaded $74.5M worth of ETH through the company, and SEC filings confirm they no longer hold any shares. This isn't just profit-taking—the situation runs deeper.
Remember, back in August this firm was a biotech called 180 Life Sciences? Then came the hard pivot: rebrand, all-in on an ETH treasury strategy. At their peak, they held over 100,000 coins. But the market turned, ETH dropped ~60% from its high, and holding became expensive. To cover convertible notes and fund buybacks, they had to sell. $40M gone in October, now another $74.5M.
The real story isn't the sale—it's where they're running to. ETHZilla just launched ETHZilla Aerospace, a subsidiary leasing jet engines. Basically, they're shifting from pure crypto holdings toward RWA (real-world assets). Feels like a hunt for stable cash flow when crypto volatility starts crushing your balance sheet. Honestly, jumping from biotech to aviation via crypto reads like a desperate search for a working model.
Thiel isn't commenting, but the signal is clear. Even big players aren't willing to ride out treasury drawdowns in a public company. The MicroStrategy playbook doesn't work for everyone. Here we see corporate plans reshape fast under price pressure. Biotech → Crypto → Aviation. Three business models in one year.
Feels like the idea of parking corporate reserves in altcoins is getting stress-tested—and results are mixed so far. Investors are getting cautious, and honestly, can you blame them? Crypto treasuries demand nerves of steel, especially when your stock trades on an exchange.
Do you think other companies will follow ETHZilla's lead and rotate out of crypto into real-world businesses?
$ETH #ETH #ETHZilla