Mentioned:
There’s a new company on the Nasdaq that wants to accumulate Ethereum. And they’ve landed some of the biggest investors in crypto.
What’s happening:
- Sharplink Gaming (NASDAQ: SBET) has announced a new $425M USD equity financing round for the sole purpose of buying Ethereum to hold direct as an asset
- The new funding round is being led by ParaFi Capital, Electric Capital, Pantera Capital and Galaxy Digital (NASDAQ: GLXY)
Why it matters:
- Consensys Software founder and co-founder of Ethereum Joseph Lubin is also one of the lead investors in the new equity financing round and will become Chairman of the newly formed company
Going deeper:
- Multiple other prominent venture capital funds focused on digital assets also participated in the financing round, including GSR, Ondo and Republic Digital
The intrigue:
- There have been multiple publicly listed companies in the United States recently raising fresh capital to purchase Ethereum, with BTCS Inc (NASDAQ: BTCS) notably just recently raising $57.8M USD in a strategic financing round with ATW Partners to begin acquiring more Ethereum to hold directly as an asset
