EddieJayonCrypto

 27 May 25

tl;dr

SharpLink Gaming announced plans to create a $425 million Ethereum treasury with guidance from Consensys CEO and Ethereum co-founder Joseph Lubin. The company is issuing 69.1 million shares at $6.15 each, aiming to close the raise by May 29. Consensys leads the investment alongside crypto funds like...

SharpLink Gaming is set to establish a $425 million Ethereum treasury, with guidance from Consensys CEO and Ethereum co-founder Joseph Lubin. The sports-betting technology company is issuing 69.1 million shares at $6.15 each, aiming to close the raise by May 29. Consensys leads the investment, joined by crypto funds such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. SharpLink plans to convert the raised capital into ETH, making it its primary treasury reserve while maintaining its operating business. Lubin will also join SharpLink’s board to advise on treasury and business initiatives.

Former Ethereum core developer Eric Conner described SharpLink's strategy as an “ETH edition” of Bitcoin’s approach, where the company raises cash below net asset value, uses it to buy and stake ETH, and potentially issues new shares if the stock trades above the ETH-per-share value. This model could increase long-term ETH staking and create a public-market proxy for investors who cannot hold tokens directly. Conner views supply compression and an equity wrapper positively for Ether’s acceptance on corporate balance sheets.

At the time of announcement, Ethereum was trading at approximately $2,564.72, outperforming other large-cap altcoins. Meanwhile, Bitcoin remains the top cryptocurrency by market capitalization, valued at around $2.18 trillion with a 24-hour trading volume of $56.46 billion, showing a modest 0.56% price increase over 24 hours. The overall crypto market capitalization stood near $3.47 trillion, with Bitcoin dominance at 62.97%.

SharpLink’s move represents a significant endorsement of Ethereum for corporate treasury reserves and reflects broader trends of institutional interest and market capitalization strength in the crypto sector.

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 27 Jun 25
 27 Jun 25
 27 Jun 25