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Joe Lubin’s Sharplink Gaming (SBET) is quietly turning into one of the biggest ETH treasuries in the world — leapfrogging even the Ethereum Foundation.
On Thursday, Sharplink filed an updated prospectus showing plans to raise up to $6B by selling stock to buy more ETH, increasing the amount by $5B over its previous target. According to Arkham, the company’s treasury now holds over $961M in ETH, most of it in LSETH — a yield-bearing staking token issued by Liquid Collective.
Currently, it’s the largest corporate ETH position on record — behind Tom Lee’s Bitmine. And judging by the filing, they’re not slowing down anytime soon.
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