The Sharplink Gaming (Sbet), betting company, 70% after announcing their intention to buy Ether (ETH), Cryptocurrency of Ethereum, to establish a treasury based on the digital asset.
In its S-3asr form, Sharplink notified The possible resale of 58.7 million ordinary shares issued to more than 100 investors In a private offer in public capital (Pipe), a mechanism that allows selling shares to accredited investors in private agreements.
The fall reflects the reaction of the market to the declaration, although the managers ensure that it is a misinterpretation.
Joseph Lubin, Executive Director of Consensys and President of Sharplink, He went out To clarify the situation. In a statement, He explained that presentation S-3 is a standard procedure After a pipe operation and does not imply immediate sales sales.
“The column ‘Actions possessed after the offer’ is hypothetical and assumes the total sale of the registered shares. Neither consensys nor I have sold any action,” said Lubin, stressing that the market misunderstood the purpose of the document.
Meanwhile, Sharplink prepares for significant operation: Ether’s acquisition, as part of a treasury strategy focused on digital assets. This move seeks to strengthen the company’s financial position in an environment of growing adoption of cryptocurrenciesas other companies have done in recent weeks, as reported by cryptootics.
The purchase of ETH is part of a treasury strategy, designed to position Sharplink in the growing cryptocurrency market. However, market reaction suggests skepticism in this way of this commitment to digital asset.
Earl this month, Sharplink raised 450 million dollars through a private financing round (Pipe), with the participation of consensys, galaxy and capital panther. These resources finance the acquisition of ETH and other expansion plans, although the strong stock market reflects the challenges of aligning this vision with the confidence of investors.
