The 2019 Concordia Annual Summit - Day 2

Joseph Lubin (Riccardo Savi/Getty Images)

SharpLink Gaming’s plans to buy $1 billion worth of ethereum send shares tumbling

The company aims to be the Strategy of ethereum.

6/2/25 9:37AM

Just days after announcing a $425 million funding for an ethereum treasury strategy, sportsbook marketing firm SharpLink Gaming revealed it intends to offer “up to $1 billion” in shares of its common stock to buy ethereum.

“We intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as ‘ETH,’” the May 30 SEC filing reads.

SharpLink shares were down more than 36% as of 10:30 a.m. ET.

The company also announced last week that Joseph Lubin, the founder and CEO of Consensys and cofounder of ethereum, “will become Chairman of the Board of Directors of the Company effective upon the closing of the private placement.”

Ethereum has been on an upward trajectory lately and is up 36% from a month ago, though it’s still far away from its all-time high of $4,878 on November 10, 2021.

Experts note several drivers that could further boost the asset, including that “increased acceptance and usage of DeFi will further increase demand for ETH as a credibly neutral and permissionless collateral,” according to Tim Lowe, Strategic Advisor, Bitwise Onchain Solutions.

Lowe also said that 30% of the ethereum supply is currently locked in staking, further increasing scarcity and demand for the coin.

“This is before potential approval of staked ETH ETFs by the SEC, which could further add momentum to this asset,” Lowe said.

Update (June 3, 2025): Corrected attribution of quote to Tim Lowe instead of John McLeod.

Sage D. Young

Solana has tanked since spot solana ETFs launched, despite the funds only recording positive flows to date

Solana’s ETF inflows are a supportive signal, but they aren’t the marginal price setter for the token, one expert explained.

Yaël Bizouati-Kennedy

11h

Bitcoin falls to lowest level since November as long-term holders accelerate selling

A majority of bitcoin investors are officially underwater and the asset’s continued fall “could intensify selling pressure as investors attempt to limit losses.”

Sage D. Young1/28/26

Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

Yaël Bizouati-Kennedy

1/28/26

Bitcoin is underperforming precious metals now, but experts warn of “short-sighted” view

The debate on investing in digital gold vs. actual gold continues, but it’s helpful to put each one’s performance in context.