Ethereum News: SharpLink Ready to Buy More ETH After $145M USDC Transfer
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.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
