Sharplink Gaming has made a major crypto play by purchasing $462 million worth of Ethereum (176,270.69 ETH), positioning itself as the largest public holder of ETH, second only to the Ethereum Foundation. The acquisition was funded through a $425 million private placement and a $79 million ATM equity offering, with over 95% of the ETH now staked for passive yield. However, Sharplink’s stock (SBET) plummeted 66% in 24 hours following an SEC filing revealing potential share resale from a prior PIPE offering, sparking fears of dilution. Chairman Joseph Lubin clarified that no immediate sales are planned, but the market reaction underscores investor caution despite the firm’s bullish Ethereum strategy.
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0 in Finance and 0 in Crypto last weekTRON’s TRX Stability Amid Market Slump & $1B USDT Mint
TRON’s native token, TRX, has seen minimal price movement, declining 0.2% over the past week and trading at $0.2451. However, the network demonstrates robust stability, with 99.7% block production efficiency attributed to its Super Representative (SR) system and DPoS consensus. The SR landscape has evolved, with 68% of 2020’s SRs replaced by new participants, reflecting decentralization. Meanwhile, Tether’s $1 billion USDT mint on TRON underscores institutional demand, driven by the network’s low-cost, high-speed transactions—particularly in Asia for remittances and trading. Analysts confirm these mints are backed by verified fiat deposits, signaling TRON’s role as a liquidity hub.
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