The Curse of Ethereum: Treasury Treasury is 73 %-details star-news.press/wp

Sharplink Gaming (SBET)Which became the first public company to create an ETHEREUM wardrobe, has not been easy since this main step was made. The shares of the company decreased amid reports that investors were planning to empty their shares after the construction of the ETH.

The shares of Sharplink Gaming after the Ethereum Treasury step

in X postStephen Loubak, Vice President of Investor Relations at Nakamoto, drew attention to the encryption community to a decrease of 72 % in the shares of Sharplink Gaming after hours. Based on the crash of SBET, he saw that a Bitcoin Treasury Reserve It is a better strategy than the Ethereum Treasury Reserve.

Bitumen said that Sharplink has launched a ETHEREUM Reserve Plan 425 million dollars In this process, it became the first public company to create a reserve in ETH. The company was Complete the special recruitment offer Earlier this month to increase this amount of the reserve plan. The company also appointed Joseph Lubin, a founder and CEO of Consensys, as a president who follows the deal.

Rumors have emerged that the participants in special places were looking to empty the shares they bought. in X postJournalist Stephen revealed that each participant in SBET mode may provide all their shares after less than a month after Ethereum cabinet strategy.

The detection of this deposit may have caused a state of panic, which contributed to the collapse of SBET stocks after hours. It should be noted that Sharplink Gaming plans to increase the strengthening of the ETH cabinet. The company has A rack of $ 1 billion With the American Securities and Stock Exchange Committee to assemble more Ethereum. The company will collect this amount by selling its shared shares.

Joseph Lubin is treated

in X postJoseph Lubin addressed rumors that his company was planning to sell SBET shares from the special position offered by Ethereum Treasury. the Consensys CEO He explained that some people were offending the explanation of the S-3 file, noting that the deposit records contribute to their potential reselling by former investors.

Lubin added that the column “shares owned after the offer” is hypothetical, assuming the full sale of registered shares. He pointed out that this is the standard procedure after the pipes in Traditional financing (tradfi) It is not an indication of actual sales. In line with this, Consensys CEO has explained that they did not sell any shares, with the announcement of the support of Ethereum Treasury Company.

Despite the setback of Eth Treasury Company, Marketwatch data It shows that SBET stocks increase more than 300 % on an annual basis (YTD). The arrow has also increased by more than 1000 % since the adoption of Sharplink ethereum games as a backup asset.

At the time of this report, the ETHEREUM price is traded by about $ 2,500, a decrease of more than 8 % in the past 24 hours, according to Data From Coinmarketcap.

Distinctive image from Getty Images, Chart from TradingView.com

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