SharpLink Plans to Resell $5.00 Billion in Stock to Increase ETH Holdings

Minnesota-based company SharpLink Gaming (Nasdaq: SBET) has filed an updated prospectus with the U.S. Securities and Exchange Commission (SEC), planning to issue an additional $5.00 billion in common stock on top of the originally planned $1.00 billion to further purchase Ethereum ($ETH) for the company's treasury. As of July 16, the company holds over 321,000 $ETH (approximately $1.10 billion), making it the largest corporate holder of Ethereum. This expansion stems from a $425.00 million private placement led by Consensys in June. Consensys CEO and Ethereum co-founder Joseph Lubin now serves as Chairman of SharpLink's Board of Directors. [ChainCatcher]