SharpLink Gaming's stock price plummeted over 70% after hours on June 13, due to its submission of an S-3 registration statement to the U.S. SEC, which led to market misunderstanding that PIPE investors had significantly reduced their holdings. The company announced in May that it had raised $425 million through PIPE financing to establish an Ethereum treasury. Consensys CEO and SharpLink Chairman Joseph Lubin stated that the 'post-sale holdings' section in the S-3 document is a hypothetical disclosure and not an actual reduction in holdings, and Consensys has not sold any shares. (Decrypt)