Consensys leads $425,000,000 Private Placement into SharpLink

Consensys is leading a $425,000,000 private placement into SharpLink Gaming (NASDAQ: SBET), which intends to use the proceeds to buy ETH and adopt it as its primary treasury reserve asset. Consensys describes the move as a sign of growing recognition of Ethereum's role in the global economy. Joseph Lubin, Consensys founder and CEO and an Ethereum co-founder, will become Chairman of SharpLink when the fundraise closes. Other named backers of SharpLink's leadership include ParaFi, Pantera, Galaxy and Electric Capital.