ETH Treasury Firm SharpLink Announces $1.5B Stock Buyback, SBET Share Jumps 5%

2025/08/22 23:41

Nasdaq-listed SharpLink Gaming (NASDAQ: SBET), an Ethereum ETH $4 650 24h volatility: 9.1% Market cap: $561.06 B Vol. 24h: $42.17 B Treasury firm, has authorized a massive $1.5 billion stock buyback program, sending the SBET share price soaring by 5% in Friday’s pre-market trading session.

The recent development boosts confidence in the company’s future plans.

SharpLink’s $1.5 Billion Stock Buyback Plan

SharpLink Gaming has announced a new stock buyback program aimed at strengthening market support and optimizing capital allocation.

This move also reinforces the company’s long-term commitment to sustainable shareholder value. The latest announcement comes following the company’s $668 million ETH purchases earlier this week.

Under the program, share repurchases may occur through open market purchases, privately negotiated transactions, or other methods allowed under applicable securities laws.

SharpLink stated that the timing and amount of buybacks will depend on market conditions, share price, trading volume, and other relevant factors.

However, the ETH Treasury made it clear that it is not obligated to repurchase a specific number of shares, and the program may be suspended or discontinued at any time.

Speaking on the development, Joseph Chalom, Co-Chief Executive Officer of SharpLink, said:

Following this news, the SBET stock, which corrected 30% over the past month, went up by 5%, eyeing a move past $19.

The stock remains up 133% since the start of 2025, supported by the company’s substantial Ethereum purchases over the past three months.

ETH Treasury Firms in Strong Race

ETH treasury firms like SharpLink Gaming and Bitmine Technologies are in a strong race with each other for the largest ETH holdings.

Currently, Tom Lee’s Bitmine enjoys the top spot with a massive 1.5 million in ETH holdings, all accumulated in just the last two months.

Amid this strong accumulation, the ETH price rallied by nearly 80% since June beginning. Currently, Ethereum is consolidating around $4,400 levels, and eyeing a potential breakout to $5,000 and beyond.

next

The post ETH Treasury Firm SharpLink Announces $1.5B Stock Buyback, SBET Share Jumps 5% appeared first on Coinspeaker.

Clause de non-responsabilité : les articles republiés sur ce site proviennent de plateformes publiques et sont fournis à titre informatif uniquement. Ils ne reflètent pas nécessairement les opinions de MEXC. Tous les droits restent la propriété des auteurs d'origine. Si vous estimez qu'un contenu porte atteinte aux droits d'un tiers, veuillez contacter service@support.mexc.com pour demander sa suppression. MEXC ne garantit ni l'exactitude, ni l'exhaustivité, ni l'actualité des contenus, et décline toute responsabilité quant aux actions entreprises sur la base des informations fournies. Ces contenus ne constituent pas des conseils financiers, juridiques ou professionnels, et ne doivent pas être interprétés comme une recommandation ou une approbation de la part de MEXC.
Partager des idées

Vous aimerez peut-être aussi

China Renaissance to Allocate $100M in BNB, Signs Deal with YZi Labs

China Renaissance to Allocate $100M in BNB, Signs Deal with YZi Labs

China Renaissance Holdings Limited has partnered with YZi Labs to deepen its footprint in the crypto asset space, particularly within the BNB Chain ecosystem.  In a voluntary disclosure today, the company revealed the signing of a non-binding Strategic Cooperation Memorandum. $100 Million in BNB Allocation As part of the agreement, China Renaissance will allocate approximately $100 million to BNB. This makes it the first Hong Kong-listed company to include BNB in its crypto asset portfolio.  The move seeks to generate competitive yields from the BNB ecosystem while also securing long-term involvement in high-quality projects within the BNB Chain. The partnership will also focus on promoting Web3 initiatives and the compliant listing of BNB on licensed Hong Kong crypto asset exchanges. In collaboration with China Asset Management (Hong Kong) and other ecosystem players, China Renaissance plans to develop fund-based investment products and further the adoption of BNB through compliant financial channels. RWA Fund to Integrate BNB in Real-World Use Cases Under the guidance and cooperation of YZi Labs, China Renaissance intends to launch a multi-hundred-million-dollar Real-World Asset (RWA) fund. The fund aims to accelerate the integration of BNB public chain technology in stablecoin and RWA applications, particularly among Hong Kong-listed companies. YZi Labs will serve as a strategic advisor in the cooperation, supporting China Renaissance with: Ecosystem project referrals and third-party connections (custodians, validators, infrastructure providers) Branding and promotional support via official channels Collaborative Web3 and capital markets initiatives Together, the parties plan to identify and execute new growth opportunities that benefit China Renaissance’s financial services capabilities and the BNB Chain ecosystem. BNB Breaks New ATH Amid Institutional Frenzy Notably, BNB is the native token of BNB Chain, one of the most actively used blockchains globally. It helps in powering transactions, securing the network through governance, and supporting applications in DeFi and beyond. Market-wise, BNB surged to an all-time high of $881 on Thursday, continuing a strong uptrend with a 35% gain over the past 60 days. A wave of institutional interest has fueled the rally. In July, companies like Windtree Therapeutics and Nano Labs collectively invested $610 million into BNB. However, not all corporate crypto bets have fared well. Windtree’s stock, which initially soared on the announcement, has since plunged nearly 90%, putting it at risk of delisting from the Nasdaq. While the memorandum between China Renaissance and YZi Labs is non-binding and subject to final agreements, the collaboration further confirms institutional confidence in BNB and its ecosystem.
Partager
The Crypto Basic2025/08/22 23:39
Partager