<ul><li>US-based sports betting firm, SharpLink Gaming, plans to raise $1 billion in common stock to purchase Ether (ETH), the main cryptocurrency of the Ethereum network.</li><li>SharpLink's stock price surged by nearly 400% after the plan to invest in Ethereum was disclosed, and Ethereum co-founder Joseph Lubin was appointed as the new chairman of the board.</li><li>The company aims to allocate most of the raised funds to buy Ether, alongside addressing business expenses such as working capital, corporate costs, and marketing operations.</li><li>SharpLink identified risks including the impact of central bank digital currencies (CBDCs) and regulatory challenges if Ether is classified as a security, receiving mixed reactions from the crypto community.</li></ul>

US Sports Betting Platform To Raise $1 Billion For Ethereum Treasury Holdings

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