The post Sharplink Crash Triggers Confusion Over Ether Treasury Play appeared on BitcoinEthereumNews.com.

This filing increased investor fears despite reassurances from executives that no actual sales occurred. The drop came shortly after Sharplink revealed plans to raise $1 billion to purchase Ethereum as part of its blockchain treasury strategy. GameStop also saw a post-earnings dip as Q1 revenue missed expectations. Despite gaming share drops, there is still interest in gaming companies. Tencent is reportedly exploring a potential acquisition of Nexon, which recently launched Web3 versions of MapleStory. However, the discussions are still in the early stages, and no formal agreement has been made. Sharplink Crashes as Market Misreads Filing Shares in sports betting platform Sharplink Gaming plummeted by 67% in after-hours trading on Thursday after the company’s filing to register nearly 58.7 million shares for potential resale. This very clearly caused some concern among investors. The sharp decline followed a 12.25% drop in the stock’s regular trading hours, closing at $32.53 before briefly plunging below $8. It later stabilized somewhat by trading at $10.55. Sharplink Gaming share price over the past 24 hours (Source: Google Finance) The market reaction was driven by confusion over the nature of the filing. Joseph Lubin, chairman of Sharplink Gaming and CEO of blockchain software company Consensys, took to social media to clarify that the Form S-3 filing with the US Securities and Exchange Commission (SEC) was standard practice and does not signal that any actual sales of shares took place. He explained that the filing is a procedural step after a private investment in public equity (PIPE) deal and does not reflect current or imminent sales. Matt Corva, general counsel at Consensys, shared that the filing merely formalizes details that were already made public two weeks earlier. “It doesn’t reflect anyone’s sales, which may or may not ever happen,” Corva stated. He also mentioned that the filing…

---

Filed under: News - @ June 13, 2025 9:29 am