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Ethereum (ETH) Treasury News: SharpLink Gaming (SBET) Plunges 70%. But There's a Catch
- Shares of SharpLink Gaming fell sharply by over 70% during after-hours trading on Thursday after the company submitted a new S-3 registration statement with the SEC.
- The filing registered nearly 59 million shares for possible resale by prior investors as part of standard post-PIPE procedures and not actual sales.
- In May, SharpLink secured $425 million through a PIPE financing aimed at building an Ethereum treasury and has recently acquired more than 76,000 ETH tokens.
- Joseph Lubin, chairman of SharpLink and Consensys CEO, clarified via social media that neither he nor Consensys sold any shares and called the filing misinterpreted.
- The sharp stock decline reflects market reaction to potential share flood from resale rights, while a planned $1 billion ETH purchase could affect future stock movements.
23 Articles
23 Articles
Cryptonews.com
http://coinprofitnews.comSharpLink Gaming Buys $463M in ETH, Becomes Largest Public ETH Holder
The Curse Of Ethereum: First-Ever ETH Treasury Company Suffers Sharo 73% Crash – Details
Source: Bitcoinist Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Sharplink Gaming (SBET), which became the first public company to establish an Ethereum treasury, hasn’t had it easy since making this major move. The company’s shares have plummeted amid reports that investors plan to offload their stocks following the creation of the ETH Treasury. Sharplink Gaming’s Stock Plummets …
The Curse Of Ethereum: First-Ever ETH Treasury Company Suffers Sharo 73% Crash – Details - Coin Surges
Sharplink Gaming (SBET), which became the first public company to establish an Ethereum treasury, hasn’t had it easy since making this major move. The company’s shares have plummeted amid reports that investors plan to offload their stocks following the creation of the ETH Treasury. Sharplink Gaming’s Stock Plummets Following Ethereum Treasury Move In an X post, Steven Lubka, the VP of investor relations at Nakamoto, drew the crypto community’s…
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