iGaming Giant SharpLink to Raise $1B to Buy More Ethereum for Treasury
The post iGaming Giant SharpLink to Raise $1B to Buy More Ethereum for Treasury appeared on BitcoinEthereumNews.com. SharpLink has gone full MicroStrategy but for Ethereum after filing an intent form with the US SEC to raise $1 billion to buy the altcoin king. The sports betting platform, on May 30, filed an S-3 ASR form with the US Securities and Exchange Commission, officially declaring its intent to issue securities worth a staggering $1 billion. SharpLink disclosed that the purpose of the fundraiser is to purchase more Ethereum for its reserve. A Saylor Strategy, but for Ethereum Notably, Bitcoin is slowly becoming a part of the balance sheet of a growing number of institutions globally, thanks to Michael Saylor’s successful Bitcoin strategy, applied at MicroStrategy. Meanwhile, SharpLink appears to be copying the playbook, as most have, but for the altcoin leader, Ethereum. Initially, on May 27, the iGaming firm announced it has created an Ethereum-based treasury, nominating Joseph Lubin as chairman of its board of directors. For the uninitiated, Lubin is an Ethereum co-founder and the CEO of Consensys, an Ethereum-focused software production studio. The announcement followed a $425 million securities purchase agreement, under which it offered its common stock at $6.15 per share to investors. Consensys led the funding round, with other notable investors including Pantera Capital, Digital Galaxy, and Ondo. Three days later, SharpLink plans to raise another $1 billion to fund its Ethereum treasury. Friday’s S-3 ASR filing with the US SEC indicates that the firm intends to raise the cash by offering its common stock to qualified investors at $79.21 per share. The Nasdaq-listed public firm would use proceeds from the offering largely to buy Ethereum. Meanwhile, the leftover funds will cover other expenses, such as general operating costs. “Lubin Pulls a MicroStrategy for ETH” Meanwhile, the announcement has sparked positive sentiments within the Ethereum community, as optimism of a bullish momentum intensifies. Among…
The post iGaming Giant SharpLink to Raise $1B to Buy More Ethereum for Treasury appeared on BitcoinEthereumNews.com.
SharpLink has gone full MicroStrategy but for Ethereum after filing an intent form with the US SEC to raise $1 billion to buy the altcoin king. The sports betting platform, on May 30, filed an S-3 ASR form with the US Securities and Exchange Commission, officially declaring its intent to issue securities worth a staggering $1 billion. SharpLink disclosed that the purpose of the fundraiser is to purchase more Ethereum for its reserve. A Saylor Strategy, but for Ethereum Notably, Bitcoin is slowly becoming a part of the balance sheet of a growing number of institutions globally, thanks to Michael Saylor’s successful Bitcoin strategy, applied at MicroStrategy. Meanwhile, SharpLink appears to be copying the playbook, as most have, but for the altcoin leader, Ethereum. Initially, on May 27, the iGaming firm announced it has created an Ethereum-based treasury, nominating Joseph Lubin as chairman of its board of directors. For the uninitiated, Lubin is an Ethereum co-founder and the CEO of Consensys, an Ethereum-focused software production studio. The announcement followed a $425 million securities purchase agreement, under which it offered its common stock at $6.15 per share to investors. Consensys led the funding round, with other notable investors including Pantera Capital, Digital Galaxy, and Ondo. Three days later, SharpLink plans to raise another $1 billion to fund its Ethereum treasury. Friday’s S-3 ASR filing with the US SEC indicates that the firm intends to raise the cash by offering its common stock to qualified investors at $79.21 per share. The Nasdaq-listed public firm would use proceeds from the offering largely to buy Ethereum. Meanwhile, the leftover funds will cover other expenses, such as general operating costs. “Lubin Pulls a MicroStrategy for ETH” Meanwhile, the announcement has sparked positive sentiments within the Ethereum community, as optimism of a bullish momentum intensifies. Among…
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