The Ethereum$ETH Foundation just dropped 10,000 ETH ($25.7M) in a private OTC deal to SharpLink Gaming—and no, this wasn’t your average sale. This is the first-ever direct ETH$ETH acquisition from EF by a publicly traded company (SharpLink trades as $SBET) 👀
But here’s the juicy part:
SharpLink isn’t flipping ETH$ETH —they’re hoarding it.
They’re staking, restaking, and locking it up as their primary treasury reserve asset. That’s 10,000 ETH off the market, potentially forever. 👋 circulating supply.
Ethereum co-founder Joseph Lubin, now SharpLink’s chairman, called it a “commitment to Ethereum’s long-term mission.” Love it or hate it, this might be the new playbook for mission-driven orgs supporting protocol-native finance.
All this goes down while ETH breaks above $3,000, ETF inflows surge, and on-chain narratives heat up. 🔥
ETH isn't just mooning... it's maturing.
💬 Would you hold ETH as your company treasury reserve? Or nah?