SharpLink Gaming raised $200M at $19.50 per share to expand its Ethereum treasury, aiming for over $2B in reserves amid rising on-chain activity and eased UK crypto regulations.
SharpLink Gaming announced a direct offering capital raise of $200M at $19.50 per share, backed by four global institutional investors, to expand its Ethereum treasury expected to exceed $2B. The update comes amid increased network activity, with transaction volumes near record highs and a significant drop in the ETH exit queue, as well as regulatory changes in the UK easing access to crypto exchange-traded notes. Comments from DuRtY_Crypto highlighted Vitalik Buterin's view on the growing value of ETH treasuries and noted the rising prominence of PulseChain's Sacrifice Wallet.