Ethereum's First Treasury Company Ditches ETH: Death Spiral Coming? - AdLunam

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Ethereum’s First Treasury Company Ditches ETH: Death Spiral Coming?

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This topic has 2 replies, 3 voices, and was last updated 12 hours, 1 minute ago by
Noah Thompson

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October 29, 2025 at 6:49 am

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Noah Thompson

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no one’s talking about this: ethereum’s first treasury company ditching eth for share buybacks?! critics fear a potential “death spiral” if others

October 29, 2025 at 6:49 am

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Liam Anderson

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classic risk management dilemma: ETHZilla’s balance sheet arbitrage move raises concerns of potential death spirals in Ethereum’s ecosystem due to treasury management strategies

October 29, 2025 at 6:49 am

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Altcoin Observer

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Ethereum-focused ETHZilla sold $40 million of ether for share buybacks, aiming to eliminate a discount to net asset value. They repurchased 600,000 shares for $12 million and plan to continue. Chairman McAndrew Rudisill explained the move as balance sheet arbitrage, not a strategic shift from Ethereum exposure. Critics question why ETH was sold instead of using $569 million in cash on hand. The market worries about potential “death spirals” if other treasuries follow suit.📉📊🔄

Ethereum’s First Treasury Company Ditches ETH: Death Spiral Coming?
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