Peter Thiel and affiliated Founders Fund entities fully exited their 7.5% stake in Ethereum treasury firm ETHZilla, according to a 13G filing with the SEC.
K33 said bitcoin’s current regime closely resembles “late bear market territory,” echoing positioning and derivatives signals seen near the 2022 bottom.
Happy Wednesday! Bitwise CIO Matt Hougan said strengthening DeFi fundamentals and rising institutional investment could help lead the market out of crypto winter, while Strategy's Michael Saylor struck a similarly optimistic tone, predicting a swift recovery and declaring that "spring is coming" for bitcoin.
In today's newsletter, Peter Thiel and Founders Fund fully divest their ETHZilla position, K33 says bitcoin
BTC-1.27%
is approaching "late bear market territory," Brevan Howard's crypto fund posts a 30% loss, and mor
Meanwhile, two spot SUI ETFs hit the market this morning, offering investors direct exposure to the token's price along with the ability to earn staking rewards.
P.S. Don't forget to check out The Funding, a biweekly rundown of crypto VC trends. It's a great read — and just like The Daily, it's free to subscribe!
Peter Thiel and Founders Fund exit Ethereum treasury firm ETHZilla, SEC filing shows
ETHZilla shares fell nearly 7% at one point in premarket trading on Wednesday, marking a roughly 97% drop from their $107 peak after Thiel's initial investment disclosure.
Thiel first took the stake in August 2025 as ETHZilla rebranded from 180 Life Sciences Corp. and pivoted to an Ethereum treasury strategy backed by a $565 million capital raise.
The company has since reduced its ether holdings, selling about $40 million worth in October for share buybacks and another $74.5 million in December to redeem convertible notes.
ETHZilla has now shifted its focus toward real-world asset tokenization, acquiring home loans and aircraft engines to tokenize on an Ethereum Layer 2.
Despite the recent sales, ETHZilla remains the sixth-largest known corporate holder of ether
ETH-1.37%
with 69,802 ETH, though it trails far behind the leading Ethereum treasury firm, Bitmin
Brevan Howard crypto fund posts 30% loss in 2025, worst year since launch
The fund underperformed bitcoin, which dropped about 6% last year, and reversed strong gains of 43% in 2023 and 52% in 2024.
The losses came as the broader crypto market declined, with total market capitalization falling 10.4% and bitcoin posting its first annual drop since 2022.
Despite the downturn, Brevan Howard Digital has reportedly continued deploying capital into crypto startups and tokenization firms while incorporating downside protections in select investments.
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