DeFI News by Thebittimes.Com

SharpLink Gaming Chairman Joe Lubin wants to be for Ethereum what Michael Saylor is for Bitcoin, and seeks to buy Ethereum as fast as possible for shareholders. “We believe that we’ll be able to accumulate more Ether — per fully diluted share — much faster than any other Ethereum-based project, or certainly faster than the Bitcoin-based projects,” he said during an interview with Bloomberg Television yesterday. SharpLink Raising Capital Daily, Staking ETH Holdings During the interview, Lubin said SharpLink is acquiring capital ”every single day” in an effort to grow its ETH reserves.  On top of that, the company is also staking its existing holdings to earn yield and compound its position.  SharpLink is currently the second-biggest Ethereum treasury company with its holdings of 360.8K ETH, according to data from StrategicETHReserve. The current leader is BitMine Immersion Technologies, with its reserves of 566.8K ETH, valued at...

Sports betting platform Sharplink Gaming has become the largest publicly traded holder of Ethereum after announcing a $463M ETH treasury strategy. The company is amassing 176,271 Ether coins as part of its new strategy, opting for the Ethereum cryptocurrency instead of Bitcoin (BTC). The acquisition was funded through a blend of private placements and at-the-market equity sales, including $79 million raised since May 30. SharpLink is the first Nasdaq-listed company to adopt a treasury reserve policy centered on ETH. Sharplink quickly decided to stake most of its newly acquired Ethereum, around 95% according to reports. This approach generates yield and also bolsters the security of Ethereum’s network, aligning financial gain with contribution to the Ethereum network. Rob Phythian, SharpLink’s CEO, labeled the ETH acquisition as a“landmark moment” for both the company and the broader landscape of public companies embracing digital currencies. “Ether is now the cornerstone of our treasu...