ETHZilla announces $100 million ETH to be used for EtherFi restaking

PANews September 2nd news, according to PR Newswire, ETHZilla (NASDAQ: ETHZ) announced plans to deploy approximately US$100 million of ETH to the DeFi protocol EtherFi for restaking to improve its vault income and strengthen Ethereum security. The company currently holds 102,246 ETH, worth approximately US$456 million, with an average purchase price of US$3,948.72. In addition, ETHZilla has completed the cancellation of 1.318 million common shares held by Elray Resources, Inc. The company said it will continue to promote DeFi integration and vault management innovation.