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SharpLink is suspected of raising $200 million to buy ETH and pledge it

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2025-08-11 01:02:23
According to Ember, a new wallet withdrew 52,809 ETH (~ $220 million) from Coinbase Prime and distributed it to 8 wallets for Ethereum staking. One of the receiving addresses was identified as a known address of SharpLink (ticker: SBET).
SharpLink just completed a $200 million equity financing last Friday (August 9). This ETH transfer transaction may be related to the allocation of its raised funds. If true, SharpLink currently holds 621,000 ETH, worth about 2.65 billion US dollars, and the average purchase price is about 3,226 US dollars.
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