- SharpLink Gaming plans to raise its Ethereum holdings above 400 000 coins with a $145 million purchase.
- Joseph Chalom leaves BlackRock to join SharpLink as Co‑CEO and advance the company’s DeFi strategy.
SharpLink Gaming has transferred $145 million in newly minted USDC to a Galaxy Digital wallet in preparation for its next large Ethereum acquisition.
SharpLink transfers $145 million USDC to Galaxy Digital ahead of Ethereum acquisition
The Nasdaq‑listed firm received 145 million USDC from Circle and forwarded the entire amount to Galaxy Digital, its long‑standing liquidity partner. The transaction signals the company’s intention to add significantly to its 360 807 ETH treasury, which already tops the public‑company rankings.
By completing the purchase SharpLink would push its holdings beyond 400 000 ETH. Ether traded 4 % higher at $3 740 on Friday, lifting its market capitalisation above $450 billion. Open interest in ETH futures remained elevated at $5.05 billion, underscoring bullish sentiment.
SharpLink shares (SBET) have been volatile, falling 9 % week‑on‑week yet holding a 118 % gain over the past month as investors absorb the firm’s aggressive accumulation strategy.
Former BlackRock executive Joseph Chalom becomes Co‑CEO and endorses Ethereum focus
SharpLink has appointed Joseph Chalom as Co‑CEO after his two‑decade tenure at BlackRock, where he led digital‑asset strategy. Chalom helped create the iShares Bitcoin Trust, now managing more than $87 billion, and the iShares Ethereum Trust with $10 billion in assets, as well as BUIDL, the first tokenised US Treasury fund on Ethereum.
He described SharpLink as
“a powerful opportunity to help shape the future of financial infrastructure and decentralised finance”
and cited the firm’s alignment with the Ethereum ecosystem as a decisive factor in his move.
