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Consensys CEO Joseph Lubin proposed the Sharplink leverage plan, emulating Saylor's Bitcoin strategy.
Gate News bot news, Ethereum co-founder Joe Lubin ( Joe Lubin ) is developing a new financial strategy for Sharplink Gaming. The company recently transformed into an Ethereum fund management firm. Lubin is also the CEO of Consensys and is considering injecting leverage into Sharplink's operations.
According to Rubin, options such as convertible stocks and long-term bonds are under evaluation, while emphasizing the importance of avoiding exposing Sharplink to high risks.
These measures aim to enhance Sharplink's Ethereum holdings without affecting stability. Sharplink recently completed a private placement deal worth $425 million. This round of financing was led by Consensys and is intended for the acquisition of ETH. Following the announcement, Sharplink's stock price surged.
But this excitement did not last long. After the investors registered their shares, the stock plummeted by 69%. Rubin described this decline as a normal occurrence and not a cause for concern. He explained that many investors were eager to participate in this round of financing but missed the deadline.
Bitcoin has risen 15% this year, while Ethereum has dropped 27% despite a recent rebound. Lubin believes this is due to the market's continued confusion over Ethereum's positioning. He points out that Ethereum represents the next generation of internet infrastructure.
The transformation of Sharplink comes at a time when more and more companies are seeking to diversify through blockchain assets. Lubin's potential move suggests that there is growing confidence in the role of Ethereum in modern finance. This could position Sharplink as a key player in Ethereum-supported asset management strategies.
Source: CoinGape