- ConsenSys sold all 5.7 million SharpLink (SBET) shares for $48 million, at $8.39 apiece—93% below the May 2025 peak.
- Joe Lubin, chairman of SharpLink, oversaw the sale to “liquidate their position,” according to SEC filings.
- SharpLink shares have plunged 94% from a $124.12 high to $7.46, wiping out gains from last year’s 40x bubble.
- Index giant MSCI placed SharpLink on its removal watchlist under new rules targeting non‑operating companies.
Consensys, the software firm controlled by Joe Lubin, has sold $48 million worth of SharpLink (SBET) common shares at $8.39 apiece, according to a recent SEC filing. The sale, executed by Lubin as SharpLink’s chairman, represents a 93% discount from the stock’s May 2025 peak of $124.12.
Lubin and related holders told regulators the disposal was intended “to liquidate their position.” The stock closed yesterday at $7.46, down another 11% and now 94% below its all‑time high.
Just 17 months ago, Consensys led a $425 million private placement alongside crypto billionaires Dan Morehead, Mike Novogratz, and Michael Arrington to launch SharpLink’s Ethereum treasury strategy. Last year Lubin claimed such treasury stocks would become “Berkshire Hathaway‑style” vehicles, but the company’s subsequent performance tells a starkly different story.
SharpLink lost $735 million in 2025 and has posted quarterly losses into 2026. Meanwhile, MSCI has added the stock to its removal watchlist under new rules that limit non‑operating companies from its indices, a change that threatens to cut off passive investment flows.
The stock’s collapse began weeks after the May 2025 peak, when shares tumbled from $33 to under $11 in a single after‑hours session following a resale registration filing. Lubin then called the filing procedural and insisted neither he nor Consensys had sold—until now.
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