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Joe Lubin's Consensys Sells $48M SharpLink (SBET) Shares After 94% Stock Collapse From 2025 Peak
Consensys, controlled by Joe Lubin, has sold all 5.7 million SBET common shares for $8.39 apiece, liquidating its position in the gambling marketing company-turned-ETH treasury stock. SharpLink's stock has plummeted 94% from its May 2025 peak and was down another 11% as of yesterday's close. The company is also on MSCI's watchlist for index removal by November 2026, which could eliminate passive investment flows. Lubin had previously claimed ETH treasury stocks like SharpLink would become “Berkshire Hathaway-style” vehicles.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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