Ethereum's ‘own Saylor’ SharpLink Gaming plans $1B ETH purchase

SharpLink Gaming, a US sports betting platform, has filed with the SEC to offer up to $1 billion in common stock to increase the holdings of its newly launched Ether treasury. In the May 30 filing, the company said it intends to use substantially all of the proceeds to acquire Ether, with some funds also going to working capital, operating expenses and affiliate marketing. The filing lists risks including central bank digital currencies and the possibility that Ether could be labeled a security, which would require additional regulation. Commentators compared the firm to Michael Saylor, whose firm Strategy holds 580,250 Bitcoin valued at $60.22 billion.