US Sharp Link to purchase大量 of Ethereum with 140 billion yen raised

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## Adding more ETH

On May 30, the US Nasdaq-listed sports gaming affiliate company SharpLink Gaming submitted a Form S-3 ASR to the US Securities and Exchange Commission (SEC) for a stock issuance of up to $1 billion (over 140 billion yen). The company has revealed plans to allocate a large portion of the raised funds for the purchase of Ethereum (ETH).

Prior to this application, SharpLink announced a private placement of approximately $425 million on May 27. Major Ethereum-related company Consensys participated as a key investor, and prominent cryptocurrency VCs such as ParaFi Capital and Electric Capital also joined the investment.

Joseph Lubin, founder of Consensys, said at the time, "We are looking forward to bringing Ethereum investment opportunities to the stock market," and a new board member of SharpLink is also set to join the board. The company's CEO, Rob Phythian, called the move "an important milestone in our expansion beyond our core business."

Moreover, the company's stock price (NASDAQ: SBET) has recorded a rise of 20 times this week following the adoption of the Ethereum financial strategy.

ETH3.46%
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