Ah, SharpLink Gaming – always looking for the next big thing, aren’t they? This time, they’re planning to sprinkle some of their colossal $3.6 billion Ethereum stash on the shiny new Ethereum layer-2 network, Linea, once it graces the world with its mainnet launch on September 10. How very… *forward-thinking*.
Now, Joseph Chalom, the co-CEO (the one who’s probably wearing a very sharp suit and even sharper business acumen) confirmed that SharpLink has been staking practically all their ETH through custodians like Anchorage and Coinbase. But, in true *entrepreneurial* fashion, they’re looking to branch out. I mean, when you’re sitting on a mountain of billions in ETH, the *natural* next step is to diversify, right? Let’s just throw it into a new network and hope for the best!
“When you hold billions of dollars of ETH and you’re looking at a portfolio of staking, there’s going to be an opportunity to deploy that through staking on Linea,” Chalom said, no doubt while eyeing his yacht in the distance.
Eth-ertainment for the Masses!
SharpLink’s strategy is like a buffet for crypto fans. They’ve been staking with native and liquid staking tokens (because why not?). Chalom made sure to mention they’re backing *Ethereum-aligned* projects like Linea because, of course, it makes perfect sense. Supporting projects that may, just may, drive Ethereum’s price upwards… for all the right reasons. Smart play, Joe. Smart play.
In a move that no doubt stunned absolutely no one, SharpLink joined the Linea Consortium in July. They now control a cool 75% of the LINEA token distribution. And let’s not forget, 80% of the token supply is being funneled into on-chain projects. Ah, yes, all roads lead to Ethereum – or so we’re led to believe. The mastermind behind Linea, Consensys (led by Ethereum co-founder Joe Lubin), seems to be on the path to supporting Ethereum’s very existence with features like native yield and ETH burns. No pressure, really.
But hold onto your hats, folks, because Chalom is keeping things suspenseful, saying that SharpLink’s staking strategy is still in the works. “We’re at a pivotal moment,” he teased. Will they diversify? Or will they put all their eggs in one Ethereum basket? The world waits with bated breath.
More ETH, More Drama
And if you thought that was all the fun, think again. Between August 25 and 31, SharpLink went on a little shopping spree, purchasing 39,008 ETH at an average price of $4,531. And how, you ask, did they fund this little adventure? Why, with a modest $46.6 million raised from their trusty ATM facility, of course. Now, they’ve got a grand total of 837,230 ETH, valued at over $3.6 billion. A nice little stash to have lying around, don’t you think?
“We continue to execute our treasury strategy with precision,” said Chalom, no doubt with a twinkle in his eye. And why not? It’s *precise* to the tune of billions, after all.
As of now, Ethereum is trading at a cool $4,287.64. Not bad, considering the volatility of the crypto world. And don’t forget, SharpLink’s decision to stake on Linea shows institutional confidence in Layer-2 solutions – which could just be the catalyst to propel Ethereum into the stratosphere of long-term value. Or not. Who knows?
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2025-09-05 22:25