ETH Treasury Strategy Backfires for Sharplink Gaming as Stock Plummets

Sharplink Gaming’s recent foray into ETH treasury strategies has backfired, leaving investors reeling after the company’s stock price plummeted following a financing round. The $463 million investment in ETH, intended to establish a long-term financial reserve, now hangs precariously after the Ethereum market experienced significant weakness, with shares of SBET collapsing by 66% before market open.