Ethereum (ETH) Treasury News: SharpLink Gaming (SBET) Plunges 70%. But There's a Catch

SharpLink Gaming (SBET), a Nasdaq-listed company that is pursuing an ether treasury strategy, tumbled 70% on Thursday in after-hours trading following a fresh filing to the U.S. Securities and Exchange Commission. The company submitted an S-3ASR registration statement, enabling the resale of up to 58,699,760 shares related to its private investment in public equity (PIPE) financing. The Thursday filing allows more than 100 shareholders in the PIPE round to sell their shares, effectively flooding the market and triggering a post-close sell-off, Charles Allen, CEO of BTCS, a publicly-traded firm that's...