SharpLink Gaming, now the largest public holder of Ethereum, is making waves again—this time with a fresh $145 million stablecoin infusion that appears headed straight for ETH.
On-chain data reveals the company received 145 million USDC from Circle and promptly transferred the entire amount to Galaxy Digital, its long-time crypto liquidity partner.
This latest move suggests SharpLink is far from done building its already massive Ethereum position, which currently stands at 360,807 ETH. If confirmed, this next purchase would cement its dominance among corporate ETH treasuries.
The market has responded swiftly. Ethereum is trading near $3,740, up 4% on the day, while its total market cap has climbed past $450 billion. The uptick in ETH’s price comes amid broader bullish sentiment, with open interest in futures hovering at a strong $5.05 billion.
Adding further momentum, SharpLink recently welcomed Joseph Chalom, former head of digital asset strategy at BlackRock, as its new Co-CEO. Chalom played a pivotal role in launching several of BlackRock’s crypto-focused initiatives, including the massive iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). His experience also includes leading the first tokenized U.S. Treasury fund on Ethereum—BUIDL.
In a public statement, Chalom said he sees SharpLink as a platform to shape “the future of financial infrastructure and decentralized finance,” praising the firm’s alignment with Ethereum’s long-term vision.
Although SBET stock has slipped 9% this week, it’s still up over 100% this month—driven in part by the company’s aggressive ETH strategy and its high-profile leadership shakeup. With the recent USDC transfer and the return of upward ETH momentum, all signs point to SharpLink doubling down.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/ethereum-news-sharplink-ready-to-buy-more-eth-after-145m-usdc-transfer/