Latest news with #JoeLubin
Yahoo
4 days ago
- Business
- Yahoo
Ethereum Treasury Company SharpLink Gaming Surges 45% as ETH Leads Rally
Ethereum Treasury Company SharpLink Gaming Surges 45% as ETH Leads Rally originally appeared on TheStreet. It's been a rocky June for the most popular publicly-traded Ethereum treasury company — but this week is looking up. Shares in Sharplink Gaming surged 45% on Monday. On Friday, we flagged the love that the stock received in a new note issued by Fundstrat — noting that the premium to the ETH the company holds had fallen to just 1.6x its net-asset value. That compares favorably to the 1.9x premium that Saylor's Bitcoin-levered company Strategy trades at. 'We believe [$SBET] offers intriguing upside at these prices,' wrote Fundstrat's Sean Farrell. The 45% pop since the note came out seems to be proving that analysis correct. But if you believe ETH is just getting started, Sharplink looks like it still has room to run. Interestingly, the ETH-BTC chart shows ETH has continued to defying its downtrend. Perhaps the break higher is really here. Still, Sharplink has been a volatile play as the market figures out how to price the company now being led by Ethereum co-founder Joe Lubin. Shares rocketed 2,000% higher to close out May when the marketing partner to sportsbooks and online casino gaming operators announced a $425 private investment round led by Lubin's ConsenSys. Prominent crypto investors including Pantera Capital, Arrington Capital, Galaxy Digital, Ondo, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital participated as well. Last week, shares got hammered and fell 70% after the company filed to register PIPE shares and pre-funded warrants with the SEC, enabling resale by investors. As Fundstrat noted, "registration of PIPE shares simply allows investors to sell but is not an indication of an intention to sell." Lubin also took to X last week to assuage investor fears, saying "Some are misinterpreting SBET's S-3 filing..." In a follow up tweet that referenced Coinage's reporting, Lubin noted that institutional investors will come to appreciate what Ethereum offers with DeFi. "Wall Street will care about consistent 'number go up' in instruments they can access, analyze and invest in. They will be motivated to deep dive and learn what's up with these strategies," he said. "They will have to deeply understand the details of Bitcoin and Ethereum and the strategies of MSTR and SBET. They will have do go deep on DeFi on Ethereum." Ethereum Treasury Company SharpLink Gaming Surges 45% as ETH Leads Rally first appeared on TheStreet on Jun 18, 2025 This story was originally reported by TheStreet on Jun 18, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Crypto-Treasury Stock Investors Brace for Routine SEC Filings
Ryan Weeks takes a look at the SEC filing that matters most for investors of crypto-treasury companies. Shares in SharpLink Gaming Inc. — a budding Ether-treasury company — plunged last week after what the company's chairman and Ethereum co-founder Joe Lubin brushed off as a routine filing.
Yahoo
02-06-2025
- Business
- Yahoo
Ethereum Just Got Its Michael Saylor -- And Wall Street Is Paying Attention
Shares of SharpLink (NASDAQ:SBET) have surged nearly 1,000% after announcing plans to become an Ether treasury company, echoing the playbook that turned Strategy (NASDAQ:MSTR) into a crypto market darling. The firm raised $425 million in a private placement to accumulate Ether, with Ethereum co-founder Joe Lubin stepping in as chairman. The deal was led by Consensys, Lubin's software infrastructure company, and has investors asking if this could be the beginning of a broader Ether-driven capital markets trend. Warning! GuruFocus has detected 8 Warning Signs with SBET. Lubin's conviction appears to have been shaped by a conversation with Bitcoin (BTC-USD) bull Michael Saylor six months ago. While Saylor turned Bitcoin into digital gold for balance sheets, Lubin sees untapped potential in Etherespecially as staking introduces a yield component. We'll take in more capital to buy Ether, Lubin noted, citing the possibility of share or bond issuance, but emphasized a cautious approach. Unlike earlier cycles fueled by hype, Lubin insists the focus is long-term ecosystem value, not speculation. With Bitcoin up roughly 11% year-to-date and Ether still down around 26%, some investors are beginning to reconsider the relative value of Ethereum's platform. Lubin believes Ether could play a central role in a more decentralized global economyand he's not alone. Other companies are reportedly exploring similar strategies. If this momentum builds, Ether might not just power decentralized apps but start showing up on more corporate balance sheets, much like Bitcoin did in 2020. This article first appeared on GuruFocus.
Bloomberg
02-06-2025
- Business
- Bloomberg
Ethereum Co-Founder Credits Michael Saylor for Crypto Treasury Firm Nudge
Long-time crypto advocate and Ethereum co-founder Joe Lubin says he was swayed into launching a firm to invest in the network's native currency about six-months ago by the best-known advocate of stockpiling digital tokens. 'I was at a dinner with Michael Saylor, I did a little bit of research, I started talking to my colleagues about how cool it could be,' Lubin, the founder and chief executive officer of Ethereum software infrastructure provider Consensys, said in an interview. 'Nobody in our company had done a deep dive on it. We saw, hey we don't see anything overly dangerous in the strategy.'
