ETHZilla Stock Drops Over 8% Following Founders Fund's Stake Sale

Peter Thiel and his Founders Fund have sold their entire 7.5% stake in ETHZilla, a corporate Ethereum treasury company. According to NS3.AI, this move led to an over 8% decline in ETHZilla's stock price. The company, which shifted its focus from biotech to acquiring Ethereum tokens, has experienced a significant stock price drop of over 97% since its peak in August. Despite these losses, ETHZilla remains committed to advancing its tokenization projects, which include initiatives in home loans and commercial jet engines.