SharpLink Gaming launched an Ethereum-based corporate treasury strategy and appointed Ethereum co-founder Joseph Lubin as chairman of its board of directors.
The company entered into a securities purchase agreement for a $425 million private investment in public equity, with Consensys among the investors.
Various major investors, including Consensys and several venture capital firms, participated in the deal, set to close around May 29.
SharpLink Gaming's stock surged by approximately 400%, reaching nearly $33.50, with plans to utilize the raised funds for an Ether treasury and general corporate purposes.