- SharpLink raised $425 million with backing from Consensys, Galaxy, and ParaFi to launch an Ethereum-based corporate treasury strategy.
- The company will hold Ethereum as its core reserve asset and integrate native ETH tools, staking, and DeFi into operations.
- Joseph Lubin, Ethereum co-founder and Consensys CEO, has joined SharpLink as Chairman to support the company’s blockchain finance direction.
SharpLink Gaming has raised $425 million in a private placement to initiate an Ethereum treasury strategy, aiming to become the largest public ETH holder.
$425M Private Placement Led by Consensys
SharpLink Gaming, Inc. (Nasdaq: SBET) has announced the closing of a $425 million private placement, financed in fiat and ETH. The lead organization was Consensys Software Inc., and co-folding investors included several well-known crypto investors including ParaFi Capital, Galaxy Digital, Electric Capital, and Pantera Capital.
According to the official statement, “This marks a pivotal moment for SharpLink – one that underscores our commitment to innovation and long-term growth,” said Rob Phythian, CEO of SharpLink. “We’re not only strengthening our affiliate marketing business, but also pioneering an Ethereum-based treasury strategy by a Nasdaq-listed company.”
The company plans to use Ethereum as its primary treasury reserve asset. With this move, SharpLink becomes one of the first publicly traded companies to adopt a blockchain-native financial reserve structure.
Ethereum as Core Treasury Asset
The Ethereum treasury strategy will give SharpLink direct exposure to decentralized protocols, staking, and tokenized applications native to the Ethereum network. This approach enables the company to align with Ethereum’s programmable finance framework.
SharpLink has entered Asset Management Agreements with ParaFi and Galaxy Asset Management to oversee the treasury. The structure allows the company to integrate native Ethereum functions directly into its financial model while supporting its core operations.
Ethereum remains central to stablecoin payments, DeFi mechanisms, and tokenized assets. This strategy enables SharpLink to capitalize on these tools at the protocol level.
Joseph Lubin Appointed as Chairman of SharpLink
Joseph Lubin, Co-Founder of Ethereum and CEO of Consensys, has joined SharpLink as Chairman of the Board following the investment. He remarked, “This partnership with SharpLink represents more than just a financial milestone… programmable assets like ETH play an important role today in how value, trust, and financial systems are structured globally.”
Lubin added, “I am pleased to join as SharpLink’s Chairman… in adopting Ethereum’s open, secure, and scalable infrastructure.”
The securities were issued under a private placement in accordance with Section 4(a)(2) of the Securities Act and applicable state laws.
