ETHZilla secures $80M collateralized ETH loan, appoints McAndrew Rudisill CEO

FORUM MARKETS Inc

Entered $80M OTC transaction with Cumberland DRW at 9.90% forward rate, collateralized by ~$125M ETH, settlement Dec 8, 2025.
Proceeds to fund $250M stock repurchase program; 2.2M shares repurchased at avg $2.50 (1.3% reduction).
Total ETH holdings: 102,246 ETH at avg acquisition price $3,948.72, valued at ~$443M; USD cash equivalents ~$213M.
McAndrew Rudisill appointed CEO, continuing as Chairman, succeeding Blair Jordan effective Sept 4, 2025.

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