SharpLink Commits $200 Million ETH to Linea Layer-2 in Multi-Year Institutional Strategy

15h ago

SharpLink Gaming, Inc. (NASDAQ: $SBET) announced on Tuesday that it plans to deploy US$200 million worth of Ether (CRYPTO: $ETH) from its corporate treasury onto the Linea blockchain, a zkEVM Layer-2 developed by ConsenSys. The deployment will take place over a multi-year period and will utilise institutional-grade staking and restaking infrastructure from ether.fi and EigenCloud.

The company said its ETH holdings are custodied at Anchorage Digital Bank and will now be optimised for yield through three primary streams: native staking rewards, restaking benefits via EigenCloud’s Autonomous Verifiable Services (AVSs), and incentive programs offered by Linea and ether.fi.

Joseph Chalom, Co-CEO of SharpLink, described the deployment as integral to the firm's treasury strategy, saying: “We are proud to be among the early institutional adopters of Linea’s infrastructure… enabling us to access Ethereum’s best staking, restaking and DeFi yields, while maintaining institutional safeguards.”

The collaboration also involves ConsenSys founder Joseph Lubin, who noted that Linea’s architecture is designed for institutional actors: “Through this collaboration, SharpLink’s ETH will earn enhanced native yield through Linea’s ecosystem partners, ether.fi and EigenCloud. It’s a model we believe other institutions will adopt.”

SharpLink reported earlier this month that its ETH holdings had risen substantially and its cash plus crypto reserves exceeded US$3.5 billion.

SharpLink Gaming, Inc. (NASDAQ: SBET) shares are trading at US$13.95, down 2.55 percent.

564

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.