- Ethereum Foundation sold 10,000 ETH to SharpLink for $25.7M to support core projects.
- SharpLink stock soared after the news, as it pivots into an ETH-heavy treasury strategy.
- Joseph Lubin compared the move to Michael Saylor’s Bitcoin play, betting big on Ethereum’s future.
Ethereum Foundation Sells 10,000 ETH—To a Familiar Face
The Ethereum Foundation just offloaded 10,000 Ether for a cool $25.7 million—yep, $2,572 a piece—and the buyer? None other than SharpLink Gaming Inc., now led by Ethereum co-founder Joseph Lubin. This isn’t just some random buy; it comes at a time when the EF has taken heat for its past token sales, especially when ETH lagged behind Bitcoin and even newer players like Solana. The foundation said the funds will fuel protocol R&D, ecosystem growth, grants, and all that essential behind-the-scenes work.
SharpLink’s Pivot Sends Signals—and Stocks Climbing
SharpLink’s been busy. After ditching its old sports betting gig, it pivoted hard into Ethereum, calling itself the biggest public holder of ETH. Since then, its shares have more than doubled, and on Friday alone, they popped 23% after the sale went public. Ether briefly cracked $3K on the news, though it chilled back a bit afterward. This isn’t just hype, either—volume’s up, and people are watching SharpLink like hawks now. Their $425 million ETH treasury, backed by Consensys, shows they’re not messing around.
Lubin Says It’s Long-Term—Inspired by Saylor’s Playbook
Joseph Lubin isn’t hiding his playbook. He said he’d been chatting with Ethereum Foundation leaders about SharpLink’s game plan, and yeah—they were “curious,” as he put it. Turns out they’ve been planning this move since late last year. Lubin even admitted they took cues from Michael Saylor’s Bitcoin juggernaut, doing deep research before diving in. But their approach? Pure Ethereum. And if this plays out like Saylor’s strategy did… well, SharpLink might just be setting the tone for a new wave of ETH-first treasuries.
