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Crypto Make-or-Break Moment? Coinbase CEO Calls on Congress to Act Now
Coinbase CEO Brian Armstrong breaks silence on what crypto needs from Congress right now

U.Today 2025-06-13 16:21
Urgent: Iran-Israel Conflict Threatens Cryptocurrency Market Stability
BitcoinWorld Urgent: Iran-Israel Conflict Threatens Cryptocurrency Market Stability The geopolitical landscape is shifting, and a recent report citing an Iranian security source via Reuters suggests a potentially significant escalation. According to Jin10.com, Iran is reportedly preparing a ‘harsh response’ to a recent Israeli strike. While this news focuses on international relations, events of this magnitude rarely stay confined to political arenas; they often send ripples through global financial markets, including the dynamic world of cryptocurrencies. For crypto investors, understanding the potential cryptocurrency market impact of rising tensions is crucial. Understanding the Iran Israel Conflict and Its Roots The report points to heightened tensions following an Israeli strike. The Iran Israel conflict is a long-standing, complex rivalry involving regional power struggles, proxy conflicts, and ideological differences. Recent events, such as the alleged Israeli strike Iran is referencing, have brought these simmering tensions to a boiling point. An Iranian security source’s statement about a ‘harsh response’ signals a potential escalation that market participants, including those in the crypto space, must monitor closely. How Geopolitical Risk Impacts Financial Markets Historically, significant geopolitical events introduce uncertainty and often lead to increased volatility across traditional financial markets – stocks, bonds, commodities, and currencies. Investors tend to react to the perceived risk, sometimes moving capital to assets considered ‘safer’ or simply reducing exposure to volatile assets. This pattern of reaction can spill over into the cryptocurrency market, even though crypto operates outside traditional financial systems. Increased Uncertainty: Conflict creates unpredictable outcomes, making investors hesitant. Risk-Off Sentiment: During times of high tension, investors may sell ‘riskier’ assets. Commodity Price Spikes: Tensions in the Middle East can significantly impact oil prices, affecting global economic stability. Currency Fluctuations: Geopolitical events can cause shifts in major currency values. Will the Iran Israel Conflict Drive Bitcoin Price Volatility? One of the primary concerns for crypto holders is the potential for Bitcoin price volatility . Bitcoin, being the largest cryptocurrency by market cap, often acts as a barometer for the broader market. When major global events occur, Bitcoin’s price can react sharply. There are differing views on how geopolitical risk affects Bitcoin: Some argue Bitcoin acts as a ‘digital gold’ or a safe haven asset, uncorrelated with traditional markets. In theory, during times of conflict or economic instability, investors might flock to Bitcoin as an alternative store of value, potentially driving its price up. This narrative gained some traction during previous periods of global uncertainty. Others contend that Bitcoin still largely behaves as a risk asset, similar to tech stocks. Under this view, increased geopolitical tension and a general ‘risk-off’ sentiment in traditional markets would likely lead to a sell-off in Bitcoin and other cryptocurrencies as investors prioritize liquidity or less volatile assets. Recent market history shows instances supporting both arguments, making the outcome uncertain. Navigating Geopolitical Risk Crypto Exposure For those invested in the digital asset space, understanding and managing geopolitical risk crypto exposure is vital. The potential for a ‘harsh response’ from Iran introduces a significant layer of uncertainty. While no one can predict market movements with certainty, here are some points to consider: Stay Informed: Monitor not only crypto news but also major international news sources covering the situation between Iran and Israel. Assess Your Portfolio: Understand your risk tolerance. Are you comfortable with potential sharp price swings? Avoid Emotional Decisions: Panic selling or buying based purely on headlines can be detrimental. Stick to your long-term investment strategy. Consider Diversification: While diversification doesn’t guarantee profits or protect against all losses, having a varied portfolio (within crypto or across asset classes) can potentially mitigate risk. Focus on Fundamentals: While macro events cause short-term fluctuations, the long-term value of crypto assets is driven by their underlying technology, adoption, and development. What Do Middle East Tensions Mean for the Crypto Market? Rising Middle East tensions crypto investors should be aware of can manifest in several ways. Beyond direct price volatility, prolonged instability in a key global region can have broader economic consequences that indirectly affect crypto: For example, significant disruptions to oil supply lines could lead to energy price surges. This impacts global inflation, central bank policies (like interest rate decisions), and overall economic growth. Such macro factors inevitably influence investor sentiment and capital flows, which in turn affect the crypto market. Furthermore, increased global instability might prompt governments to tighten regulations on capital flows, potentially impacting crypto exchanges and transactions. While the immediate focus is on the potential for a direct market reaction to the ‘harsh response’ news, the cascading effects of sustained Middle East tensions on the global economy are a critical long-term consideration for anyone holding digital assets. Actionable Insights for Crypto Holders Given the potential for increased Bitcoin price volatility and overall market uncertainty stemming from the Iran Israel conflict , what concrete steps can crypto holders take? Set Price Alerts: Use exchange or tracking tools to set alerts for significant price movements in your key holdings. Review Stop-Loss Orders: If you actively trade, consider setting or adjusting stop-loss orders to limit potential downside in case of a sudden market downturn. Reduce Leverage: If you trade with leverage, consider reducing your positions to minimize liquidation risk during periods of high volatility. Stay Liquid (Partially): Having some stablecoins or fiat currency readily available can allow you to potentially buy dips if the market corrects, or simply provide peace of mind. Conduct Thorough Research: Understand the specific risks associated with the assets you hold, beyond just market-wide volatility. The report of Iran preparing a ‘harsh response’ is a stark reminder that external geopolitical forces can significantly influence the seemingly separate world of cryptocurrency. While the direct impact of the Iran Israel conflict on the cryptocurrency market impact is subject to debate and dependent on the nature of any escalation, the potential for increased Bitcoin price volatility and broader geopolitical risk crypto exposure is undeniable. Investors should remain vigilant, stay informed about Middle East tensions crypto market reactions, and employ sound risk management strategies during these uncertain times. The coming days could be crucial in determining the market’s reaction to this developing situation. To learn more about the latest cryptocurrency market impact trends, explore our article on key developments shaping Bitcoin price volatility institutional adoption. This post Urgent: Iran-Israel Conflict Threatens Cryptocurrency Market Stability first appeared on BitcoinWorld and is written by Editorial Team

Bitcoin World 2025-06-13 16:20
HYPE steadies after sharp pullback from ATH amid market tumble
The broader crypto market faced a sharp jolt earlier today as geopolitical tensions between Israel and Iran triggered a wave of sell-offs. Among the tokens hit was Hyperliquid’s HYPE, which saw a steep intraday decline. However, the token is now showing signs of recovery. Trading at $39.63 at press time, HYPE ( HYPE ) is gradually rebounding from the sharp drop it suffered earlier. The token had recently climbed above $43, setting a new all-time high after several days of strong upward momentum. However, it quickly tumbled to $37, marking a 14.2% pullback within hours. $HYPE’s price chart | Source: crypto.news HYPE’s sharp drop mirrored the broader market downturn, with Bitcoin ( BTC ) and several altcoins posting even deeper losses during the same time frame. But with tensions easing, the token has clawed back roughly 6% from its intraday low and remains up 15% over the past week. You might also like: Why is crypto down today? Bitcoin, Ethereum, Solana sink as Israel strikes Iran The overall positive performance has translated into bullish sentiment among investors who, despite the recent pullback, continue to go all in. Whales bet on HYPE Tony G Co-Investment Holdings recently announced the purchase of 10,387 HYPE tokens, worth just over $438,000. The purchase makes the firm the first public company to add the asset to its treasury. We’re the first public company to add $HYPE to its treasury. Just the beginning. Hyperliquid. $TONY on CSE (Canada) $BGRDF on OTC (USA) pic.twitter.com/LN7GVd0Ftq — Tony G (@TonyGuoga) June 12, 2025 The firm emphasized that hyperliquid is the ”new home to decentralized finance,” highlighting its potential and expressing confidence in its future. Tony G’s purchase builds on several sizable acquisitions by other large position holders. Earlier this week, three separate investors scooped up 70,617, 28,500, and 57,372 HYPE respectively, totaling around $5 million in combined purchases. Positive sentiment is mounting around the token, driven by fresh exchange listings and partnerships . If momentum holds, HYPE could soon retest its all-time high and potentially push even higher. Read more: Here’s why HYPE price may drop 15% before surging to $50

crypto.news 2025-06-13 16:19
BTC, ETH, DOGE: Crypto Prices Fall as Geopolitical Risks Escalate
Prices for digital asset are falling amid a flight to safety among investors.

TipRanks 2025-06-13 16:17
What’s in ARKK? A Look at Cathie Wood’s Top Innovation ETF Picks
The post What’s in ARKK? A Look at Cathie Wood’s Top Innovation ETF Picks appeared first on Coinpedia Fintech News Cathie Wood of ARK Invest has long excited investors with her daring strategy toward disruptive innovation. Her flagship fund, the ARK Innovation ETF (ARKK), targets individuals hoping to profit from companies that are transforming the world. In a recent Yahoo Finance segment, Stocks in Translation host Jared Blikre breaks down ARKK’s key investments from 2020 to 2025, highlighting how Wood’s strategy has evolved – from the explosive highs of 2020 to the ambitious possibilities of 2025. Here’s a closer look at the fund’s journey and what’s driving it today. The 2020 Boom: A Stellar Lineup ARKK saw a 153% increase in 2020 , accompanied by a list of disruptive companies. While Teladoc Health (TDOC) profited from the telemedicine trend, Tesla (TSLA) was the leader in the electric vehicle (EV) market. Roku (ROKU) drove the streaming revolution, Block (SQ) transformed digital payments, and Shopify (SHOP) empowered a new era of e-commerce. These holdings showcased Wood’s sharp instinct for companies redefining their industries, making ARKK a favorite among growth-focused investors. 2025’s New Bets: Crypto, Metaverse, and AI Looking at 2025, ARKK will explore emerging trends. Nevertheless, Elon Musk’s Tesla continues to lead, but Wood has broadened her attention to Gitlab (GTLB) for AI and data analysis, Roblox (RBLX) for the metaverse, and Coinbase Global (COIN) for cryptocurrency investment. This change supports Wood’s ultimate purpose of rapid expansion and emphasizes her beliefs regarding blockchain, virtual realities, and AI as the upcoming major developments. Performance Swings ARKK’s performance has been uneven. Following its peak in 2020, it fell 67% in 2022 due to increasing rates, with assets dropping from $59 billion in 2021 to $11.1 billion by mid-2024. A recovery in 2023 resulted in an 82% increase, surpassing the S&P 500’s 53%. As of May 2025, ARKK has risen only 1% year-to-date, underperforming the market but picking up momentum since April, assisted by stocks such as Palantir. High Risk, High Conviction Critics, including Morningstar, point to ARKK’s $14.3 billion loss in investor wealth over the past decade, citing its volatility. Still, Wood’s early wins, like Tesla and Bitcoin, highlight her long-term vision. ARKK remains a high-risk, high-reward play on the future of innovation.

coinpedia 2025-06-13 16:17
Coinbase Just Launched a Bitcoin Card — But Should You Bite?
Coinbase Joins Hands With Amex to Launch Bitcoin Cashback Credit Card American Express and Coinbase just rolled out the Coinbase One Card, a metal credit card that promises up to 4% cashback in Bitcoin on every purchase — a shift that can reshape crypto rewards and shake up the crowded fintech landscape. Rolled out at the State of Crypto Summit and for U.S. Coinbase One members later this fall, the card marks Coinbase's inaugural foray into the credit arena, after its earlier Visa debit offering. Bitcoin Rewards, Amex Perks, and a Premium Flex The Coinbase One Card is unique in its stainless steel build emblazoned with Bitcoin's Genesis block—a reference to crypto history and a flex for aficionados. And yet, it's the rewards that make it shine: 2–4% Bitcoin cashback on every purchase, rates pegged to your Coinbase asset balances. Amex perks : No foreign transaction fees, premium travel protections, and event access. Crypto rewards : 4.5% APY interest on USDC, 5% staking rewards on ETH/SOL, and $10/month Base network gas credits for active users. App connectivity : Less time spent on managing spend and monitoring rewards, and directly send BTC to your Coinbase wallet, all within the app. “This is what the new Coinbase One Card looks like. Very cool – each one is metal and engraved with the genesis block. It’s also the first crypto credit card powered by American Express. With cashback paid in bitcoin, of course.” — Brian Armstrong (@brian_armstrong), June 12, 2025 How Does It Compare with Gemini and Others? The Coinbase card beats out the Gemini Mastercard—3% back in Bitcoin or other cryptocurrency, and no yearly fee—on rewards and Amex's high-end network. But it's only for U.S. Coinbase One members, which means a $29.99/month subscription (or $4.99/month for the Basic version with less benefit). Gemini, however, offers more accessible crypto assets (40+ tokens), instant rewards, and no yearly fee, which is better for occasional use. Feature Coinbase One Card Gemini Mastercard BTC Rewards Up to 4% Up to 3% Network American Express Mastercard Subscription Req. Yes ($29.99/mo) No Crypto Choices Bitcoin only 40+ tokens Instant Rewards No Yes Availability U.S. subscribers only All U.S. residents The Plan: Subscriptions and a Futures Funnel Coinbase's move is about more than customer advantages — it's an attempt to establish recurring revenue and steer users into its expanding universe of crypto products, such as its coming-soon U.S. perpetual futures platform. By linking the card to Coinbase One, the company shifts its model away from wild trading fees (which raked in $1.26 billion in Q1 2025) toward less volatile subscription revenue — $698 million in the most recent quarter and growing. The card roll-out coincides with Coinbase's regulatory push to offer U.S. consumers CFTC-compliant perpetual futures trading, a previously offshore-served product. By rewarding cardholders in Bitcoin and fitting smoothly into apps, Coinbase aims to create a sticky system by which users spend, earn, and eventually trade derivatives—under one roof. Interchange Economics and Regulatory Obstacles The partnership with Amex allows Coinbase to tap into premium interchange rates — fees merchants pay per card swipe — and offer card members top-tier benefits. But it also puts the card squarely in the crosshairs of continuing Senate politics around credit card swipe fees and crypto regulation. Any changes to interchange policies or stablecoin legislation have an impact on the economics of the card and its reward system. Who Should Consider the Coinbase One Card? The card makes the most sense for active crypto users who already benefit from Coinbase One’s zero trading fees and staking rewards, and who pay off their balances monthly. For casual spenders, the subscription fee may outweigh the rewards—especially with alternatives like Gemini’s no-fee card on the market.

Coinpaper 2025-06-13 16:17
Shiba Inu Taps NVIDIA and Alibaba-Powered Tech for AI Push as Its Token Price Struggles
The Shiba Inu project has announced a major partnership to enter the AI gaming space. The new “Shib.fun” platform will be powered by NVIDIA and Alibaba Cloud infrastructure. This news comes as the SHIB token is hovering at a critical technical support level. Shiba Inu’s lead developer, Shytoshi Kusama, confirmed the ecosystem’s growing focus into artificial intelligence (AI) by announcing a strategic partnership with TokenPlayAI, an AI-powered gaming platform developed by Astra Nova. At the announcement Shytoshi Kusama also hinted at broader ambitions beyond this initial step, suggesting more AI integrations and a new, AI-centric white paper are on the way. Shiba Inu’s New AI Gaming Platform The new partnership will debut Shib.fun, a no-code platform that will allow users to build and play blockchain games. The platform will be developed by Astra Nova and will utilize its TokenPlayAI technology. This system is powered by high-performance infrastructure from NVIDIA and Alibaba Cloud, signaling a commitment to creating advanced, AI-enhanced gaming experiences. Kusama’s tweet hinted at broader ambitions, suggesting that this is just the first of se… The post Shiba Inu Taps NVIDIA and Alibaba-Powered Tech for AI Push as Its Token Price Struggles appeared first on Coin Edition .

Coin Edition 2025-06-13 16:15
Bitcoin crashes as Israel launches attack on Iran, but charts saw it coming first
Bitcoin’s sharp sell-off this week has sparked concerns across the market, with many pointing to escalating tensions between Israel and Iran as the primary catalyst. While macro headlines triggered panic selling, the charts had already laid out the roadmap. A bearish shark harmonic pattern, coupled with a breakdown from key volume levels, suggested that a corrective move was highly probable. Notably, Bitcoin ( BTC ) was consolidating near the value area high earlier this week when tensions in the Middle East began escalating. As news of a military confrontation between Israel and Iran broke, global risk sentiment weakened, leading to widespread liquidation across crypto markets. However, beneath the surface, technical structure had already shown signs of exhaustion. As predicted on June 10 in this analysis article , a shark harmonic pattern hinted at a full market rotation, which ultimately played out in textbook fashion. Key technical points Bearish Shark Harmonic Completed: Pattern projected a retracement from VAH to VAL. Breakdown of Value Area High: Confirmed technical weakness and led to an impulsive sell-off. News of Israel-Iran Tensions Added Volatility: Macro uncertainty accelerated the move but didn’t initiate it. Value Area Low and Key Low Now in Focus: Price has tapped into strong support — a possible bounce zone. BTCUSDT (4H) Chart, Source: TradingView The move began with price consolidating above the value area high (VAH), a level that had acted as resistance throughout recent trading sessions. The confirmation of the shark harmonic came when Bitcoin lost the VAH, triggering a technical breakdown. From there, price moved quickly toward the point of control and then into the value area low, completing the harmonic structure. While the drop coincided with rising geopolitical tension, particularly the developing military standoff between Israel and Iran, it’s important to note that this was not a random crash. The technical structure had already forecast a bearish expansion, and the news simply added speed and volatility to a move that was already in motion. You might also like: Is it the time to buy Bitcoin? $170,000 setup looks like “a ticking time bomb” Price has now wicked into the VAL, establishing a key swing low. This level is a critical support area. Holding above it may trigger a relief rally or even a full rotation back toward the VAH, provided short-term price action confirms stability. What to expect in the coming price action If Bitcoin holds above the value area low and builds support here, a recovery toward the POC and VAH is technically reasonable. However, if this key swing low is lost with momentum, further downside may unfold. While the news shook the market, the chart had already warned, and this drop may ultimately serve as another long-term buying opportunity within Bitcoin’s broader trend. Read more: Walmart and Amazon eye dollar-pegged stablecoins to cut payment costs: report

crypto.news 2025-06-13 16:13
Bitcoin May Dip Toward $100K Amid Ethereum’s 11% Drop and Rising Geopolitical Tensions
The cryptocurrency market faced significant volatility on June 13, with Bitcoin and Ethereum prices sharply declining amid escalating geopolitical tensions between Israel and Iran. Market dynamics were further influenced by

CoinOtag 2025-06-13 16:13
Oil Price Surge Explodes Over 7% Amidst Iran Israel Conflict: What it Means for Market Volatility and Crypto
BitcoinWorld Oil Price Surge Explodes Over 7% Amidst Iran Israel Conflict: What it Means for Market Volatility and Crypto The financial world is currently witnessing significant shifts, and one of the most immediate and dramatic reactions came from the energy markets. Following reports of an Israeli airstrike targeting Iran, we saw a swift and substantial oil price surge . This event underscores how quickly geopolitical events can ripple through global markets, creating widespread market volatility that investors across all asset classes, including cryptocurrencies, need to understand. Understanding the Immediate Oil Price Surge Let’s look at the raw numbers that hit the headlines immediately after the news broke: Brent Crude: This global benchmark saw a significant jump, surging by as much as 7%. Prices momentarily touched $74.47 per barrel, a sharp move indicating market anxiety about potential supply disruptions. West Texas Intermediate (WTI): The US standard wasn’t far behind, also experiencing a strong increase of 7.3%. WTI traded up to $72.62 per barrel. These percentages represent substantial gains in a very short period, reflecting the market’s immediate assessment of increased geopolitical risk in a critical oil-producing region. Why Did the Iran Israel Conflict Impact Oil So Quickly? The Middle East is central to global energy supply. Any significant escalation of tension or direct conflict in this region naturally raises concerns about the flow of oil from major producers. The Iran Israel conflict , particularly direct actions like airstrikes, immediately puts markets on edge because: Supply Disruption Fears: Even if current production isn’t directly hit, the risk of future disruptions, blockades, or expanded conflict impacting shipping lanes (like the Strait of Hormuz) or production facilities increases. Regional Stability: The wider the conflict spreads, the more unpredictable the supply chain becomes. Other nations in the region could be drawn in, amplifying the potential impact. Market Sentiment: Traders react quickly to perceived risk. Fear of future scarcity drives immediate buying pressure, pushing prices higher. This rapid reaction in oil prices serves as a clear indicator of elevated geopolitical risk on the global stage. Broader Market Volatility: Beyond Just Oil While oil was the most immediate responder, increased geopolitical risk doesn’t stay isolated. Higher energy prices have cascading effects: Inflationary Pressure: Energy is a fundamental cost for almost everything. Higher oil prices feed into transportation, manufacturing, and ultimately, consumer prices, potentially fueling inflation. Economic Growth Concerns: Persistent high energy costs can act as a tax on consumers and businesses, potentially slowing down economic activity. Shift in Investor Sentiment: Periods of heightened geopolitical tension often lead investors to move towards perceived ‘safe haven’ assets (like gold or certain currencies) and away from riskier assets. This creates a broader environment of market volatility across stocks, bonds, and commodities, setting the stage for potential shifts in investor behavior that can indirectly affect the cryptocurrency space. How Could the Oil Price Surge and Geopolitical Risk Impact the Crypto Market? This is where the connection becomes particularly relevant for our readers. While cryptocurrencies like Bitcoin are not directly tied to oil production or consumption in the same way traditional industries are, they operate within the broader global financial ecosystem. The oil price surge and the underlying increase in geopolitical risk can influence the crypto market impact in several ways: Risk-Off Sentiment: If the broader market moves into a ‘risk-off’ mode due to global instability, cryptocurrencies, which are often still perceived as risk assets (similar to tech stocks), could see selling pressure. Investors might reduce exposure to volatile assets. Inflation Hedge Narrative: Conversely, some proponents argue that Bitcoin, due to its fixed supply, can act as a hedge against inflation caused by rising commodity prices like oil. If inflation concerns mount, this narrative could gain traction, potentially attracting some investors to crypto. However, this is a debated point, and crypto’s correlation with traditional risk assets currently often outweighs its inflation-hedge behavior. Increased Volatility: Higher uncertainty in traditional markets often spills over into crypto. The crypto market impact could be increased price swings as traders react to global news and market sentiment shifts. Mining Costs: While not a direct price driver, sustained high energy prices can impact the profitability of cryptocurrency mining operations, which could have long-term supply-side implications, though this is a less immediate effect. The key takeaway is that the Iran Israel conflict and its effect on oil amplify global economic uncertainty, which is a major factor influencing investment decisions across the board, including within the crypto space. Navigating Increased Market Volatility: Actionable Insights In times like these, characterized by a sudden oil price surge and elevated geopolitical risk , what should participants in the crypto market consider? Stay Informed: Keep abreast of both geopolitical developments and their effects on traditional markets. Understanding the broader context is crucial for anticipating potential shifts in crypto sentiment. Assess Your Risk Tolerance: Increased market volatility means prices can move sharply in either direction. Re-evaluate your comfort level with potential losses and ensure your portfolio allocation reflects this. Long-Term Perspective: Short-term reactions to geopolitical events can be significant but temporary. If you are invested in crypto with a long-term horizon, avoid making impulsive decisions based on daily price swings driven by external news. Diversification: Ensure your investment portfolio is diversified, not just within crypto but across different asset classes, if appropriate for your financial goals. Dollar-Cost Averaging (DCA): For those accumulating crypto, sticking to a DCA strategy can help mitigate the risk of buying at temporary peaks driven by volatility. Understanding the potential crypto market impact stemming from global events like the Iran Israel conflict and the resulting oil price surge is essential for making informed decisions in a turbulent environment. Summary: Geopolitics, Oil, and the Ripple Effect on Crypto The recent Israeli airstrike in Iran triggered an immediate and significant oil price surge , highlighting the sensitivity of energy markets to geopolitical risk in the Middle East. This event contributes to broader market volatility , creating uncertainty that extends beyond traditional assets. For the cryptocurrency market, the crypto market impact is indirect but significant, influenced by shifts in global risk sentiment, potential inflationary pressures, and overall market unpredictability stemming from events like the Iran Israel conflict . Navigating this period requires vigilance, a focus on risk management, and a clear understanding of how macroeconomic and geopolitical forces can influence even the seemingly disconnected world of digital assets. To learn more about the latest explore our article on key developments shaping crypto market institutional adoption. This post Oil Price Surge Explodes Over 7% Amidst Iran Israel Conflict: What it Means for Market Volatility and Crypto first appeared on BitcoinWorld and is written by Editorial Team

Bitcoin World 2025-06-13 16:10
Top corporate ETH holder Sharplink Gaming endures stocks dip after ETH purchase
Sharplink Gaming (SBET) became the largest corporate holder of ETH after completing a financing round, followed by a direct purchase. Sharplink dedicated over $463M for ETH purchases, with the goal of setting up a long-term treasury strategy. Sharplink Gaming (SBET) is the biggest corporate holder of Ethereum, after a financing round to acquire an ETH treasury. Sharplink raised $463M to acquire a total of 176,271 ETH, becoming the biggest ETH buyer as a crypto outsider. The company bought ETH at an average price of $2,626, already suffering from the recent slide to a lower range. The recent purchase has the potential to become the “Microstrategy moment” for Sharplink, although it is tapping the new trend of ETH and altcoin treasuries. Sharplink already announced its plans to raise up to $1B for its eventual treasury, so it has more leeway for future acquisitions. Sharplink Gaming joined the trend of tapping altcoins as reserves, joining DeFi Dev Corp with its SOL strategy and other corporate buyers looking into SOL, XPR, or other assets. Sharplink is the first NASDAQ-listed company to adopt an ETH treasury strategy, with more potential buyers expected. Sharplink shares crash despite ETH treasury hype Despite the announcement, both ETH and the SBET market price showed weakness. ETH traded in the $2,500 range after a market-wide slump. SBET erased its recent gains, sliding by 66% in pre-market hours. Just weeks ago, SBET traded above $124, ending up with a 91% crash since its all-time peak. SBET may have already speed-ran its Strategy moment, as crypto buying is no longer the guaranteed booster for stock prices. SBET shares crashed in pre-market trading, erasing 91% from their all-time high above $124. | Source: Marketwatch One of the main reasons may be the way Sharplink Gaming structured its financing. The first round of funds was raised through a Private Investment in Public Equity (PIPE), where private investors got shares at a potential discount. The subsequent dilution caused the private buyers to shed their SBET shares, crashing the price for retail holders. The fundraising round was led by Consensys and included a mix of fiat and direct ETH payments in exchange for SBET shares. Other participants included ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, Galaxy Digital, Ondo, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital. The high-profile fundraising initially boosted SBET, only later leading to the sharp price decline. ETH treasuries are in fact more common, a relic of the ICO era and early distribution. The Ethereum Foundation is currently the biggest holder, with $592.6M in ETH. Building a treasury through shares is one possible tool to use idle ETH, while tapping external share financing. For some companies, the SBET crash can be a warning about dilution. An ETH treasury can also be used for staking or other forms of passive income. SharpLink Gaming expressed its belief in the Ethereum ecosystem as a hub for finance, e-commerce or other applications. The recent stock crash may affect future attempts to expand the treasury. Currently, Sharplink holds an amount of ETH comparable to old ICO projects or investment funds. ETH is seen as a less reliable store of value, especially after its long slide against BTC. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Cryptopolitan 2025-06-13 16:10
SharpLink Gaming acquires ETH worth $463M; shares down 68%

Seeking Alpha 2025-06-13 16:08

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