ETHZilla Transitions to Ethereum Strategic Reserve with New Branding

According to BlockBeats, ETHZilla, formerly known as 180 Life Sciences Corp, has announced a significant rebranding initiative as part of its strategic shift towards becoming an Ethereum reserve platform. The company, listed on Nasdaq under the new ticker symbols 'ETHZ' for common stock and 'ETHZW' for public warrants, aims to build a community-driven Ethereum reserve platform. The previous ticker symbols 'ATNF' and 'ATNFW' have been retired, and shareholders are not required to take any action regarding this change. Following the successful completion of a $425 million private investment in public equity (PIPE) and a $156.25 million convertible note issuance, ETHZilla has acquired 94,675 ETH at an average purchase price of $3,902.20 per ETH, currently valued at approximately $419 million. Additionally, the company holds around $187 million in cash equivalents.