BlackRock Executive Joins SharpLink Gaming as Co-CEO Amid Ethereum Treasury Expansion Plans
Main Idea
Joseph Chalom, a former BlackRock executive, joins SharpLink Gaming as co-CEO to bolster its Ethereum treasury strategy and institutional adoption, despite recent stock volatility.
Key Points
1. Joseph Chalom, instrumental in launching BlackRock's Bitcoin and Ethereum ETFs, transitions to SharpLink Gaming as co-CEO.
2. SharpLink Gaming holds over 360,000 ETH (valued at $1.3 billion) and recently acquired 80,000 ETH in a week, with plans to expand its treasury further.
3. The company aims to leverage Ethereum-native yield opportunities, including staking and restaking, through a publicly traded equity vehicle.
4. SharpLink's shares dropped over 6% to $21.89, extending losses to 31% in five days, reflecting broader crypto-related equity market volatility.
5. Joseph Lubin, Chairman of SharpLink and CEO of ConsenSys, views Chalom's appointment as validation of the company's ETH treasury strategy.
Description
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