SharpLink Gaming Ltd. has acquired 10,000 ETH from the Ethereum Foundation in a $25.7 million transaction, positioning the purchase as a strategic endorsement of Ethereum’s proof-of-stake transition and long-term viability.
The acquisition triggered immediate market impact with Ethereum’s price surging 7.4% to $3,000 despite decreased trading volumes. Joseph Lubin, Ethereum co-founder and chairman of SharpLink, highlighted that corporate staking activities strengthen network security while advancing decentralization principles.
Industry analysts suggest the move could accelerate broader corporate adoption of Ethereum as a treasury reserve asset and potentially shape evolving regulatory approaches to institutional cryptocurrency holdings.