In brief
- BlackRock’s former head of digital assets strategy, Joseph Chalom, is joining SharpLink Gaming as co-CEO.
- Chalom helped launch BlackRock’s Bitcoin and Ethereum ETFs.
- Shares of SBET have dropped over 6% on the day.
A former digital assets executive at BlackRock, Joseph Chalom, has joined publicly traded Ethereum treasury company SharpLink Gaming as co-CEO, the firm announced on Friday.
Chalom, who helped launch BlackRock’s Bitcoin and Ethereum ETFs, led the financial giant’s strategy on digital assets as the managing director and head of strategic ecosystem partnerships.
“After 20 years at BlackRock and helping to lead its digital asset strategy, I’m beginning a new chapter: I’ve joined SharpLink Gaming as co-CEO,” he posted on X. He added that SharpLink is “built on a clear belief: that Ethereum is becoming the foundation of global finance. And I couldn’t agree more.”
With Chalom’s addition, current SharpLink CEO Rob Phythian will begin transitioning into the role of president.
“Few executives in the world have had the kind of impact Joseph has had in unlocking institutional adoption of digital assets, having pioneered BlackRock’s strategic entry into the space,” SharpLink Chairman and Consensys CEO Joseph Lubin said in a statement. “His decision to join SharpLink is a resounding validation of our ETH treasury strategy and vision for Ethereum to drive profound, transformative change across the global digital economy.”
(Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)
With Chalom in tow, SharpLink will continue its mission of adding shareholder value long-term, utilizing Ethereum as a productive asset via staking, restaking, and other yield-bearing strategies to do so.
The firm, which holds more than 360,000 ETH valued at more than $1.3 billion, acquired nearly 80,000 ETH in the last week as it builds its treasury. It recently detailed plans to raise up to $6 billion via a stock sale, with proceeds intended to fuel more ETH purchases.
“We’re building a bridge between institutional capital and Ethereum-native yield, packaged in a single public equity,” posted Chalom. “The asset is ETH, the ticker is SBET.”
Shares of SharpLink Gaming are down over 6% today to $21.89, extending its losses to more than 31% in the last 5 days of trading according to Google Finance.
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