180 Life Sciences Corp. (ETHZilla) announced the completion of a $425 million private placement and the official launch of the ETH treasury strategy, led by Electric Capital and Harbour Island, Borderless Capital, Polychain Capital, GSR, Omicron Technologies, Konstantin Lomashuk (co-founder of Lido and p2p.org), Sreeram Kannan (founder of Eigenlayer), Mike Silagadze (founder of Ether.fi), etc. The company said it would use the funds to purchase ETH, pay transaction fees, pay a certain amount of cash incentives to some of the company's management members and board of directors, support the company's existing iGaming business, etc.