- Joseph Chalom, former BlackRock executive, becomes co-CEO of SharpLink Gaming.
- Chalom previously led BlackRock’s digital asset strategy and helped launch Bitcoin and Ethereum ETFs.
- SharpLink Gaming holds over 360,000 ETH, worth more than $1.3 billion, and continues building its Ethereum-focused treasury.
- The company plans to raise up to $6 billion through a stock sale to acquire more ETH.
- Shares of SharpLink Gaming (SBET) have declined more than 6% today, totaling a 31% drop over the past five days.
Joseph Chalom, previously head of digital asset strategy at BlackRock, has taken the position of co-CEO at SharpLink Gaming, a publicly traded Ethereum treasury company. The announcement was made Friday as the company expands its leadership team and focus on digital assets.
Chalom played a key role in launching BlackRock’s Bitcoin and Ethereum exchange-traded funds (ETFs). According to his social media post, he stated, “After 20 years at BlackRock and helping to lead its digital asset strategy, I’m beginning a new chapter: I’ve joined SharpLink Gaming as co-CEO.” He emphasized his confidence that Ethereum is becoming a foundation of global finance.
With Chalom’s appointment, current CEO Rob Phythian will move into the role of president. SharpLink Gaming’s chairman, Joseph Lubin, said, “His decision to join SharpLink is a resounding validation of our ETH treasury strategy and vision for Ethereum to drive profound, transformative change across the global digital economy.”
SharpLink Gaming holds more than 360,000 ETH (Ethereum’s native token), valued over $1.3 billion. The company recently acquired nearly 80,000 ETH in one week as it continues to build its treasury. Its latest plans include raising up to $6 billion through a stock sale, with funds intended for further ETH purchases.
Chalom said, “We’re building a bridge between institutional capital and Ethereum-native yield, packaged in a single public equity. The asset is ETH, the ticker is SBET.” The company aims to generate value through Ethereum strategies such as staking, which involves holding cryptocurrency in a network to support operations and earn rewards.
Shares of SharpLink Gaming (SBET) have dropped over 6% today to $21.89. This marks a loss of more than 31% in the last five days, according to Google Finance.
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