US EditionConsensys Leads $425M Raise for SharpLink Gaming’s ETH Treasury Plans
- SharpLink Gaming, a Nasdaq-listed sportsbook firm, announced a $425 million private equity raise on May 27, 2025, to buy Ethereum as its primary treasury asset.
- This move follows the trend of public companies adopting cryptocurrencies for reserves and is led by Consensys, headed by Ethereum cofounder Joseph Lubin.
- The offering includes 69,100,313 shares at $6.15 each, seeking to acquire about 120,000 ETH, and proceeds will fund SharpLink's Ethereum treasury strategy.
- Ethereum’s price rose over 5%, reaching intraday highs around $2,680-$2,700, and SharpLink’s stock surged more than 400% following the news, according to market data.
- Joseph Lubin will become SharpLink’s board chair, signaling strong partnership implications and potential growth for Ethereum adoption in public markets.
25 Articles
25 Articles
Consensys Leads $425M Raise for SharpLink Gaming’s ETH Treasury Plans
SharpLink Gaming is raising $425 million via a private placement to establish ether as its primary treasury reserve asset, marking a major shift for a publicly traded U.S. company that operates as a sports betting firm as it follows the playbook of Michael Saylor’s Strategy and other firms that have emulated it. The deal is being led by Consensys Software, headed by Ethereum co-founder Joseph Lubin, who will become SharpLink’s board chair upon c…
SOTM May 22 – May 28, 2025
Welcome to our 222nd issue of State of the Market, where we provide an overview of crypto market activity from May 22 – May 28, 2025. This week in crypto markets: Trump Media raised $2.5B through equity and convertible bond offerings to build a “Bitcoin treasury” as a core part of their assets. SharpLink Gaming adopted Ethereum (ETH) as its primary treasury reserve, backed by a $425M round led by ConsenSys. Circle is moving forward with its IPO…
Ether Skyrockets SharpLink’s $425M ETH Bet Sparks Massive Surge
Ether Rallies Towards $2,700 as SharpLink Announces $425 Million Ethereum Treasury Plan The cryptocurrency market presented a mixed picture, with Bitcoin advancing above the $110,000 mark while the total crypto market capitalization experienced a marginal 0.5% decline over the last 24 hours. Market Dynamics: Corporate Crypto Adoption and IPO Filings Trading activity remained relatively subdued on Tuesday, even as Trump Media and Technology Group…
Gaming Firm Chaired by Joseph Lubin Announces Plans for Ethereum Treasury Strategy Starting With $475,000,000 in Capital - The Daily Hodl
A company chaired by the chief executive of crypto wallet developer Consensys is announcing plans to create an Ethereum (ETH) treasury. In a new press release, SharpLink Gaming – chaired by Consensys CEO and Ethereum co-founder Joseph Lubin – says it’s going to purchase $475 million worth of ETH and use it as a primary treasury reserve asset. To raise the funds to accumulate the tokens, SharpLink is selling just over 69 million shares of its com…
Gaming Firm Chaired by Joseph Lubin Announces Plans for Ethereum Treasury Strategy Starting With $475,000,000 in Capital
A company chaired by the chief executive of crypto wallet developer Consensys is announcing plans to create an Ethereum (ETH) treasury. In a new press release, SharpLink Gaming – chaired by Consensys CEO and Ethereum co-founder Joseph Lubin – says it’s going to purchase $475 million worth of ETH and use it as a primary... The post Gaming Firm Chaired by Joseph Lubin Announces Plans for Ethereum Treasury Strategy Starting With $475,000,000 in Cap…
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