SharpLink Gaming Plunges 70% After SEC Registration Filing Sparks Market Uncertainty

Shares of SharpLink Gaming (SBET), a pioneering Ethereum treasury company, experienced a dramatic drop of over 70% in overnight trading. This decline follows the company’s filing of an S-3 registration statement with the Securities and Exchange Commission (SEC) to facilitate future security offerings. 💰 This filing includes nearly 59 million shares of common stock that could be sold to existing investors, stemming from prefunded warrants, strategic advisor warrants, placement agent warrants, and other private placement shares. 🤔 🕵️‍♂️