SharpLink Gaming has entered into an agreement with the Ethereum Foundation to purchase 10,000 ETH for $25.72 million. This deal emphasizes the company's commitment to supporting Ethereum.
SharpLink Gaming's ETH Purchase
SharpLink Gaming, a publicly traded company, has completed the purchase of 10,000 ETH at a price of $2,572.37 per unit. This is significantly lower than the market price of ETH at the time of sale. With this purchase, the company’s total Ethereum holdings increased to 215,634 ETH, valued at nearly $647 million.
Joseph Lubin's Contribution
Joseph Lubin, co-founder of Ethereum and consulting firm ConsenSys, played a key role in this transaction. He stated that it is not just a trade, but a long-term commitment to holding Ethereum. SharpLink is actively supporting the Ethereum ecosystem, including staking ETH.
Ethereum Foundation's Position
The Ethereum Foundation commented on the deal, indicating that the ETH sale was part of treasury management to fund its core operations, including protocol research and development, ecosystem growth, and grant support. The foundation also indicated that funds were continuously flowing in to maintain its operations based on a published policy.
The acquisition of 10,000 ETH by SharpLink Gaming highlights the growing institutional relevance of Ethereum and the active participation of companies like SharpLink in supporting the ecosystem.
