Ethereum's ‘own Saylor’ SharpLink Gaming plans $1B ETH purchase
SharpLink Gaming has filed with the SEC to offer up to $1 billion in common stock to enhance its Ether treasury. The proceeds will primarily be used to acquire Ether (ETH), the cryptocurrency of the Ethereum blockchain, along with funding working capital, corporate purposes, and marketing operations. Following the announcement of an Ethereum-based corporate treasury strategy, SharpLink's stock rose 400%. The filing highlights risks associated with significant ETH purchases, including potential competition from central bank digital currencies (CBDCs) and the possibility of Ether being classified as a security, which would impose additional regulations. SharpLink's approach has drawn comparisons to Bitcoin advocate Michael Saylor. Ether is currently trading at $2,516, down 4.51% in the last 24 hours. Additionally, analysts predict that the first Ethereum and Solana staking ETFs could launch in the US soon, following a new filing by ETF provider REX Shares.
