ETHZilla Dumps $40M in ETH for Stock Buybacks as Crypto Treasuries Struggle

[cryptoenthusiast]

ETHZilla has sold $40 million in Ethereum to fund share buybacks amid a 30% NAV discount — signaling growing distress in the crypto treasury sector.
Japan’s Metaplanet also trades below its Bitcoin reserves, deepening fears of systemic stress in corporate crypto balance sheets.
Analysts warn that these moves may mark the start of a sector-wide leverage buildup.