Founders Fund | Crypto

Founders Fund’s exit from ETHZilla highlights volatility, balance sheet strain and the challenges facing public Ether treasury strategies. Founders Fund fully exited ETHZilla after previously holding a 7.5% stake. SEC filings show that Peter Thiel-linked entities had reduced their ownership to zero by the end of 2025, signaling a decisive retreat from an Ether-focused public treasury strategy. ETHZilla’s pivot from biotech to an Ether treasury strategy was aggressive. After raising $425 million and later seeking $350 million through convertible bonds, the company accumulated over 100,000 ETH, positioning itself as a leveraged equity proxy for Ether exposure. Debt-driven models can force crypto sales at unfavorable times. ETHZilla’s sale of 24,291 ETH in December 2025 to meet debt obligations highlighted a structural weakness. Leverage combined with crypto volatility can trigger asset liquidation during downturns. Read more

A new SEC filing shows Peter Thiel-linked Founders Fund entities now own zero ETHZilla shares, after disclosing a 7.5% stake in 2025. Billionaire tech investor Peter Thiel’s Founders Fund has fully exited Ether treasury company ETHZilla, according to a Tuesday filing with the United States Securities and Exchange Commission (SEC).  Entities linked to Thiel now report owning zero shares in the company in a 13G amendment filed on Tuesday, after disclosing a 7.5% stake on Aug. 4, 2025.  At that time, the group beneficially owned 11,592,241 shares of what was then known as 180 Life Sciences Corp., representing 7.5% of the 154,032,084 shares outstanding and worth about $40 million based on trading at around $3.50 per share in early August. Read more