ETHZilla shifts strategy, rebrands as Forum Markets
ETHZilla is stepping away from holding large ETH reserves and abandoning its role as a "public proxy on Ethereum," rebranding as Forum Markets with a new Nasdaq ticker symbol, FRMM. This shift comes amid a nearly 96% drop in the company's share price from its peak.
A year ago, ETHZilla's shares soared to $107 following the announcement of a $425 million Ethereum treasury. Now, the company is focusing on tokenizing real-world assets (RWA), moving away from crypto reserves and signaling a change in its business model.
This move likely reflects an effort to stabilize the firm's market position and adapt to the evolving challenges in the cryptocurrency sector, shaping Forum Markets' future trajectory.
