Sharplink Names Ex-BlackRock Exec Amid $2 billion Ether Race
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NewsroomWhy is Sharplink making headlines with a $2 billion move in the crypto market?
Who is the ex-BlackRock executive collaborating with Sharplink, and what could this mean for Ether investors?
What is the significance of the $2 billion Ether race mentioned in the article?
- Sharplink appoints Joseph Chalom as Co-CEO, intensifying rivalry with Bitwise.
- Chalom’s expertise aligns Sharplink with Ethereum infrastructure strategy.
On July 24, 2024, Sharplink Gaming announced it hired BlackRock veteran Joseph Chalom as Co-CEO. This move intensifies the company's rivalry with Bitwise in the corporate Ether treasury race. Chalom will lead Sharplink’s global strategy for public markets and its Ethereum-based digital infrastructure.
His appointment comes amid a heated competition between Sharplink and Bitwise for dominance in the Ether treasury space. On the same day, Bitwise revealed it acquired 566,776 ETH, valued at over $2 billion. The acquisition makes Bitwise the largest publicly traded holder of Ether, surpassing Sharplink’s holdings of 360,807 ETH.
Regarded as a pivotal hire, Chalom brings more than 20 years of experience from BlackRock, where he served as Head of Strategic Ecosystem Partnerships and played a key role in launching the iShares Bitcoin Trust (IBIT), a fund designed to drive institutional adoption of Ethereum. His leadership will deepen Sharplink’s alignment with the Ethereum ecosystem and bolster its digital asset strategy.
This significant appointment builds on Sharplink’s earlier decision to name Ethereum co-founder Joseph Lubin as board chairman, underscoring the company’s commitment to blockchain innovation. Meanwhile, Bitwise is also escalating its leadership race by appointing Fundstrat co-founder Tom Lee as chairman. This move highlights the fierce competition between the two firms for both Ether holdings and top-tier talent from traditional finance and the crypto industry.
The rivalry between Sharplink and Bitwise has spurred volatility in their stock prices, which surged notably after the companies announced their respective Ether treasury strategies. Both firms are deploying aggressive measures to dominate the corporate Ethereum holding landscape, leveraging their unique capabilities and industry influence.
According to CoinGecko on July 25, 2024, Ethereum (ETH) was trading at $3,626.18 at 15:09 UTC, reflecting a 3.3% increase in 24-hour trading volume.
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