The ETH Treasury Company, backed by Avenir (a company affiliated with the Li Lin family) and others, launched its PIPE fundraising campaign on CoinList Alpha, aiming to raise $1 billion.

This round of financing will be accompanied by the issuance of 1:1 stapled warrants, with an exercise price at a premium of approximately 50% over the offering price, and a PIPE pricing of approximately 0.88 times net asset value (mNAV).