Key Takeaways
- ETHZilla raised $350 million through a new convertible debenture, raising its total convertible debt to $500 million.
- The raised funds will be allocated towards Ethereum blockchain protocol investments and asset tokenization initiatives.
ETHZilla, a company specializing in Ethereum ecosystem investments, raised $350 million through a new convertible debenture today, bringing its total convertible debt to $500 million.
The financing will support the company’s investments in blockchain protocols and asset tokenization initiatives across the Ethereum network.
Convertible debentures function as debt with the option to convert into company equity at a later date, providing flexibility for both investors and the issuing company.
The Ethereum ecosystem evolved from hosting initial coin offerings in 2017 to becoming a hub for programmable money and decentralized collateral, now underpinning a multi-trillion-dollar digital asset market.
Source: https://cryptobriefing.com/ethzilla-raises-350m-convertible-debt-ethereum-asset-tokenization/
