Latest news with #SharpLink
Time of India
a day ago
- Business
- Time of India
Cryptocurrency Live News & Updates : Bitcoin Dips Below $103K Amid Market Volatility
21 Jun 2025 | 02:05:12 AM IST Over 35 million Ether is now staked, leading to tighter liquidity as investors favor passive yields over trading. Corporate treasuries, including SharpLink, are driving this trend. The cryptocurrency landscape is witnessing significant developments as staked Ether (ETH) has surpassed 35 million tokens, accounting for over 28% of Ethereum's circulating supply. This trend reflects a growing preference for passive yield strategies among investors, particularly corporate treasuries like SharpLink, which recently staked a substantial portion of its ETH holdings. Meanwhile, optimism is rising around the approval of various crypto exchange-traded funds (ETFs), with Bloomberg analysts estimating a 90% or higher chance for many filings, including those for XRP, Solana (SOL), and Dogecoin (DOGE). The SEC's recent engagement is seen as a positive sign for these approvals. Additionally, Solana continues to thrive, reporting over $1 billion in app revenue for two consecutive quarters and attracting a significant number of developers. As the crypto market evolves, the interplay between staking, institutional investment, and potential ETF approvals will be crucial in shaping the future of digital assets. Show more
Yahoo
14-06-2025
- Business
- Yahoo
SharpLink Acquires $463M in Ether, Shares Remain 66% Lower
SharpLink Gaming (SBET), the public firm pivoting to a crypto treasury strategy focused on Ethereum, revealed on Friday it acquired 176,271 ether ETH for nearly $463 million. The purchase makes the firm the largest ETH holder among publicly traded companies, SharpLink said in a press release. The company tapped its $1 billion at-the-market (ATM) common stock share facility for $79 million to help fund the ETH acquisition. The ETH purchase announcement came on the heels of a Thursday regulatory filing that potentially enabled investors in the firm's private placement round to sell shares, sending stock prices down 70% after market hours. Some speculated that the firm might have leaned more heavily into the ATM to announce a bigger larger crypto purchase. Shares remain lower by 66% in Friday action. SharpLink in one of the growing roster of public companies that recently pivoted to add cryptocurrencies to their balance sheets. It raised $450 million earlier this month through a private round from a wide range of investors, including ConsenSys, Galaxy, and Pantera Capital, to buy ETH. Ethereum co-founder and ConsenSys CEO Joseph Lubin also joined the firm as board chairman. Shares exploded 4,300% higher in a bit more than a week following the firm's crypto strategy in May, but have given back more than 90% of the rally this the massive price swings and today's decline, shares still trade around 500% higher than before the treasury 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
13-06-2025
- Business
- Bloomberg
Ethereum Treasury Firm SharpLink Plunges 69% on Routine Filing
Shares of SharpLink Gaming Inc. plunged 69% on Friday following the registration of shares for a group of investors, a move the company's chairman defended as standard procedure. The firm, which is becoming an Ether treasury company, announced a $425 million private investment in public equity last month that would see investors led by Consensys Software Inc. buying 69.1 million shares of SharpLink or their equivalent, according to a statement at the time.
Yahoo
03-06-2025
- Business
- Yahoo
SharpLink Shares Plunge 30% After 2000% Surge
SharpLink shares were lower by 30% in early U.S. trading Monday following last week's historic 2000% surge. CoinDesk's Jennifer Sanasie breaks it down on 'Chart of the Day,' presented by 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
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.
