Founders Fund, the venture capital firm led by billionaire Peter Thiel, has decreased its stake in Ethereum treasury company ETHZilla. According to SEC filings, the firm held 928,389 shares, or 5.6% of ETHZilla's stock, as of September 30, 2025. This marks a reduction from the 7.5% stake reported on August 4, indicating a 1.9% decrease in their holdings.