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U.S. Firm SharpLink Gaming Purchases ETH Worth $4.63 Billion, Becoming the World's Second Largest Holder

2025/06/16 06:44
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Written by L.Kikutani
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U.S. Firm SharpLink Gaming Purchases ETH Worth $4.63 Billion, Becoming the World's Second Largest Holder

Becoming the World's Second Largest Holder

SharpLink Gaming (SBET), a Nasdaq-listed affiliate marketing firm, announced the purchase of 176,270.69 Ethereum (ETH) for approximately $4.63 billion. This acquisition positions the company as the world's second largest holder of ETH, trailing only the Ethereum Foundation. Meanwhile, the company's stock price plummeted by about 72% compared to the previous day. According to data tracking service Arkham, the Ethereum Foundation holds 214,129 ETH. Rob Phelan, CEO of SharpLink, stated that the decision to use ETH as a primary financial reserve asset reflects its role as programmable, yield-generating digital capital.

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MAGAZINE
Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.