Biotech firms diving into crypto? 🤔 Surprise twist, right? Bloomberg's got the scoop, and the stock market's reacting like it's a rollercoaster! 🎢📈
Take 180 Life Sciences Corp, now rebranded as ETHZilla, pouring $350 million into crypto. Sonnet BioTherapeutics wants to become a crypto exchange, while MEI Pharma Inc is selling shares to invest in Litecoin. And trust me, there’s more where that came from!
So what gives? Biotech and crypto seem worlds apart! 🌍💊 But hey, after a 13% drop in the Nasdaq Biotech index since its 2021 peak (while S&P500's been thriving), these firms are looking for cash flow in new places. 💸
They're not ditching their drug development dreams—just trying to boost their wallets. 🤷♂️ Sounds a bit sketchy, don’t you think?
