Peter Thiel Cuts Ties With ETHZilla as Treasury Firms Face Mounting Pressure

Billionaire venture capitalist and co-founder of PayPal and Palantir Technologies, Peter Thiel’s Founders Fund, has fully divested from ETHZilla, a digital asset treasury firm that holds Ethereum (ETH). The development comes as digital asset treasury firms face mounting pressure amid the broader crypto market downturn. Peter Thiel Cuts Ties With ETHZilla During Crypto Market Slump The digital asset treasury wave gained momentum last year, with several companies adopting Strategy’s (formerly MicroStrategy) 2020 Bitcoin (BTC) playbook. Firms began accumulating cryptocurrencies as reserve assets, attracting heightened investor attention as prices climbed and equity valuations expanded source: https://beincrypto.com/peter-thiel-ethereum-treasury-exit/