Altcoins News
By Evie Vavasseur
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SharpLink Gaming, a U.S.-based sports betting company, has reveal a bold plan to buy up to $1 billion worth of Ethereum.
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On May 30, SharpLink filed paperwork with the U.S. Securities and Exchange Commission (SEC).
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“We plan to use nearly all of the funds to buy Ethereum,” the company said.
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This move marks a major shift for SharpLink, which had just reveal a few days earlier—on May 27—that it was starting a new Ethereum-based treasury strategy.
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Even though the main goal is to buy ETH, SharpLink also said it will use some of the money for general business needs, like operations and marketing.
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To show how serious they are about the shift, SharpLink also named Ethereum co-founder Joseph Lubin as chairman of its board of directors.
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With Lubin on board, SharpLink is signaling that this isn’t just a short-term play—it’s a long-term move to integrate more deeply with the crypto world.
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Many in the crypto community are already calling SharpLink the “Michael Saylor of Ethereum.” Michael Saylor is known for using his company, MicroStrategy, to buy billions of…
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Now, some think SharpLink is taking a similar approach, just with Ethereum instead of Bitcoin.
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One crypto analyst wrote on social media, “Ethereum finally has its own Saylor.” Ethereum expert Anthony Sassano added, “You are not bullish enough,” referring to how big this…
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While the plan is exciting, it’s not without risks. SharpLink was clear about this in its SEC filing.
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For example, if the U.S. government decides to label Ethereum as a “security,” that would come with more rules and reporting requirements.
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At the time of writing, Ethereum is trading at about $2,516. It’s dropped around 4.5% in the past 24 hours, but it’s still up nearly 40% over the past month.
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SharpLink’s reveal also comes just as talks about Ethereum-based ETFs are heating up. One company, REX Shares, recently filed new documents that could lead to the first Ethereum…
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This is a big moment—not just for SharpLink, but for Ethereum. Until now, most corporate crypto investments have focused on Bitcoin.
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