ETHZilla acquires 15% stake in Satschel for $15M in cash and stock

FORUM MARKETS Inc

ETHZilla invested $5 million cash and $10 million in restricted common stock for 15% of Satschel, owner of Liquidity.io ATS.
The deal grants ETHZilla exclusive rights to list Ethereum L2 tokens on Liquidity.io's regulated platform.
ETHZilla receives a board seat at Satschel and a right of first refusal on future equity offerings for five years.
Transaction closed on October 22, 2025; Satschel shares are subject to a six-month lock-up.

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