Coin WorldSunday, Aug 3, 2025 12:51 am ET
1min read
Sharplink Gaming has denied recent reports that it purchased $53.6 million worth of Ethereum, a claim that suggested the company had boosted its ETH holdings to 480,204 coins. As of August 3, 2025, no verifiable evidence has been found either through official company channels or on the Ethereum blockchain to support the purchase [1]. The company’s leadership, including CEO Rob Phythian, has remained silent on the matter, further fueling uncertainty over the origin of the claim [1].
The unverified nature of the alleged acquisition has raised concerns about the accuracy of cryptocurrency-related corporate news and its potential impact on market sentiment. The lack of official confirmation or blockchain-level data has led investors and analysts to remain cautious, as similar unverified reports in the past have contributed to unnecessary market volatility [1]. This case underscores the need for more rigorous verification processes and greater reliance on credible, official sources when assessing corporate activity in the crypto space.
Historically, major corporate Ethereum acquisitions—such as those by Tesla and MicroStrategy—were substantiated through multiple verified channels and often had significant market effects. These transactions were typically accompanied by detailed disclosures and official announcements [1]. In the absence of such transparency from Sharplink Gaming, experts recommend treating similar claims with skepticism and emphasizing due diligence in evaluating investment-related information.
The situation also highlights broader challenges in the cryptocurrency market, where rapid news cycles and limited regulatory oversight can amplify misinformation. While the alleged acquisition by Sharplink Gaming has not yet triggered major market shifts, it serves as a reminder of the importance of data verification and the risks associated with acting on unconfirmed reports [1]. Investors are advised to rely on official statements and on-chain analytics when assessing corporate crypto activity.
As the market continues to evolve, the demand for transparency and accountability from companies operating in the crypto space is likely to grow. The absence of verified data in this instance reinforces the value of independent research and the necessity for institutional actors to provide clear, evidence-backed disclosures. Sharplink Gaming has not yet issued any public statement addressing the Ethereum claim, and stakeholders are encouraged to monitor the company’s verified communication channels for updates [1].
Source: [1] Sharplink Gaming Denies $53.6M Ethereum Purchase Claim
https://coinmarketcap.com/community/articles/688ee815f755b03fefb0133f/
