Ethereum Foundation offloads $25.7m ETH to a public company in rare deal

Key Points

1. SharpLink Gaming purchased 10,000 ETH directly from the Ethereum Foundation for $25.7 million, executed without intermediaries.

2. The transaction avoids market disruption and aligns with the Ethereum Foundation's revised treasury strategy.

3. Joseph Lubin, co-founder of Ethereum and chair of SharpLink, emphasized the deal as a long-term commitment to Ethereum's vision, including staking and decentralization.

4. SharpLink plans to use Ethereum's smart contract infrastructure to overhaul its iGaming business, creating a trustless betting ecosystem.

5. The deal marks a rare direct transaction between a protocol steward and a public company, highlighting institutional alignment with Ethereum's future.