SharpLink Gaming Raises $425 Million for Ethereum Treasury Strategy: Stock Skyrockets

Public gaming company SharpLink Gaming secured a substantial $425 million private placement to establish Ethereum as its primary treasury reserve asset. This strategic shift signals a move away from traditional sports marketing operations towards cryptocurrency management, making SharpLink a pioneer in the adoption of Ethereum as a reserve asset by public companies. The announcement triggered significant market response, with shares soaring over 400% before closing at elevated levels.