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

Source: https://cointelegraph.com/news/ethereum-treasury-sharplink-gaming-significant-eth-purchase-michael-saylor
Kiwi News: https://news.kiwistand.com/stories/Ethereums-own-Saylor-SharpLink-Gaming-plans-dollar1B-ETH-purchase?index=0x683db7bc56f7100258afa1be14af2414bd757332a88650cffa535dacd9c09b3800e70375
Submitted by tim on 2025-06-02 UTC, 3 upvotes, 0 comments

## Summary

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.

## Article

US sports betting platform SharpLink Gaming has filed with the Securities and Exchange Commission (SEC) to offer up to $1 billion in shares of common stock in an effort to increase the holdings of its newly launched Ether (ETH) treasury.

“We intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH,” SharpLink Gaming said in the May 30 filing.

SharpLink outlines ETH investing risks

“We also intend to use the proceeds from this offering for working capital needs, general corporate purposes, operating expenses and core affiliate marketing operations,” it said.

It comes after the firm’s May 27 announcement that it would be launching an Ethereum-based corporate treasury strategy.

SharpLink nominated Ethereum co-founder Joseph Lubin as chairman of its board of directors.

After the announcement, SharpLink Gaming’s stock surged 400% during the May 27 trading day.

SharpLink Gaming intends to use the funds to acquire Ether. Source: SEC

The filing outlined several risks related to the significant Ether (ETH) purchase, including the introduction of central bank digital currencies (CBDC), which “could eliminate or reduce the need or demand for private-sector issued cryptocurrencies, or significantly limit their utility.”

The possibility of Ether being labeled a “security” was also listed as a risk, which the company said would require it to adhere to additional regulations.

Community dub SharpLink as Ether’s Michael Saylor

The filing led several individuals in the community to compare the betting platform to the Ethereum equivalent of Bitcoin maxi Michael Saylor, known for his aggressive Bitcoin acquisitions through his firm, Strategy.

At the time of publication, Strategy holds 580,250 Bitcoin, valued at $60.22 billion, as per Saylor Tracker.

Related: Ethereum futures data and network activity growth back ETH’s price strength

Crypto analyst 0xBoboShanti said in an X post, “Ethereum finally has its own Saylor.” Meanwhile, Ethereum educator Anthony Sassano said, “You are not bullish enough.”

Ether is trading at $2,516 at the time of publication, down 4.51% over the past 24 hours, according to CoinMarketCap data.

Ether is up 39.47% over the past 30 days. Source: CoinMarketCap

This comes after a new filing by ETF provider REX Shares, which has led analysts to forecast that the first Ethereum and Solana staking ETFs could launch in the US within weeks.

The analysts said REX Shares used “regulatory workarounds,” to potentially get staking into ETFs, something other providers have struggled to do.