US Sports Betting Platform To Raise $1 Billion For Ethereum Treasury Holdings
The post US Sports Betting Platform To Raise $1 Billion For Ethereum Treasury Holdings appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ethereum is on the spotlight again this week. SharpLink Gaming, a US-based sports betting firm, has filed with the Securities and Exchange Commission (SEC) to offer up to $1 billion in common stock. The company says it plans to use the money to purchase Ether (ETH), the main cryptocurrency of the Ethereum network. This big move comes just days after SharpLink announced its new Ethereum-based treasury strategy. Their stock price exploded by nearly 400% during trading on May 27, just after the plan went public. At the same time, the company appointed Ethereum co-founder Joseph Lubin as the new chairman of its board of directors. Ether Is The Target According to the May 30 SEC filing, SharpLink wants to put most of the raised funds toward buying Ether. But it’s not just about crypto. Some of the cash will also go toward running the business—things like working capital, corporate expenses, and affiliate marketing operations. ETH was trading at $2,520 at the time of the filing, down 2.31% in 24 hours, based on Coingecko data. The timing of the purchase, and how much Ether they actually buy, could depend on the market. But the message is clear: SharpLink is going all in on Ethereum. ETH is currently trading at $2,520. Chart: TradingView Risks On The Table The company also listed several risks that could affect its big Ether investment. One of them is the possible rise of central bank digital currencies (CBDCs). If CBDCs take off, SharpLink believes demand for private cryptocurrencies like ETH could drop or lose their usefulness. Image: BlockTempo Another risk is regulatory. If the SEC or another agency decides to classify Ether as a “security,” SharpLink could face new rules and reporting requirements. That…
The post US Sports Betting Platform To Raise $1 Billion For Ethereum Treasury Holdings appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Ethereum is on the spotlight again this week. SharpLink Gaming, a US-based sports betting firm, has filed with the Securities and Exchange Commission (SEC) to offer up to $1 billion in common stock. The company says it plans to use the money to purchase Ether (ETH), the main cryptocurrency of the Ethereum network. This big move comes just days after SharpLink announced its new Ethereum-based treasury strategy. Their stock price exploded by nearly 400% during trading on May 27, just after the plan went public. At the same time, the company appointed Ethereum co-founder Joseph Lubin as the new chairman of its board of directors. Ether Is The Target According to the May 30 SEC filing, SharpLink wants to put most of the raised funds toward buying Ether. But it’s not just about crypto. Some of the cash will also go toward running the business—things like working capital, corporate expenses, and affiliate marketing operations. ETH was trading at $2,520 at the time of the filing, down 2.31% in 24 hours, based on Coingecko data. The timing of the purchase, and how much Ether they actually buy, could depend on the market. But the message is clear: SharpLink is going all in on Ethereum. ETH is currently trading at $2,520. Chart: TradingView Risks On The Table The company also listed several risks that could affect its big Ether investment. One of them is the possible rise of central bank digital currencies (CBDCs). If CBDCs take off, SharpLink believes demand for private cryptocurrencies like ETH could drop or lose their usefulness. Image: BlockTempo Another risk is regulatory. If the SEC or another agency decides to classify Ether as a “security,” SharpLink could face new rules and reporting requirements. That…
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