ETHZilla don launch $250M buyback, ETH treasury don reach $489M
ETHZilla don approve $250M stock buyback to boost im share price plus expand im Ethereum treasury. The program go run till June 30, 2026, and dem go buy back shares for open market or through institutional deals at market price. The company get 102,237 ETH (≈$489M at average cost of $3,948) and $215M cash equivalents. Since dem change name from 180 Life Sciences on August 18 – when dem acquire $419M in ETH – ETHZilla stock don climb over 90% this year, e rise 6% pass $3.50 after the buyback announcement. Executive Chairman McAndrew Rudisill talk say the strong buyback show ETHZilla commitment to scale up im Ethereum reserves and make shareholders value big. As of press time, Ethereum dey trade for $4,635, down 3.9% for 24 hours.
Bullish
ETHZilla dem $250M buyback and plenty ETH wey dem get show say company get strong confidence for Ethereum, e fit ginger market sentiment well well. For short term, share repurchases fit make price waka steady and make investors happy. For long term, when dem dey expand Ethereum reserves and continue to rebrand, e mean more institutions dey adopt Ethereum, wey fit increase demand for ETH and support price to grow.