Betting platform SharpLink Gaming has launched an Ethereum-based corporate treasury strategy and nominated Ethereum co-founder Joseph Lubin as chairman of its board of directors, the company announced May 27.
According to the announcement, SharpLink Gaming, a publicly traded company on Nasdaq, entered into a securities purchase agreement for a private investment in public equity worth $425 million. Ethereum infrastructure firm Consensys was among the investors.
“On close, Consensys looks forward to partnering with SharpLink to explore and develop an Ethereum Treasury Strategy and to work with them in their core business as a strategic advisor,” Consensys founder and CEO Lubin said.
SharpLink Gaming’s stock is up approximately 400% at the time of writing, changing hands at nearly $33.50. Trading today started at over $30 after closing under $7 the day before.
SharpLink Gaming stock price chart. Source: Google Finance
A Consensys representative told Cointelegraph that the company will not comment further until the deal is