TLDR
- SBET dips after morning surge on news of ex-BlackRock exec named Co-CEO
- SharpLink taps Joseph Chalom, boosts Ethereum bet, stock swings sharply
- SBET drops 5.87% despite bullish Ethereum push and leadership shake-up
- New Co-CEO Chalom signals Ethereum shift; SBET stock faces midday pullback
- SharpLink appoints Chalom, eyes Ethereum future as shares lose early gains
SharpLink Gaming, Inc. (Nasdaq: SBET) opened sharply higher but reversed gains by midday on July 25, 2025. The stock dropped 5.87% by 3:11 PM EDT, settling at $21.95. Despite the decline, the announcement of a key leadership change fueled heavy trading volumes.
SBET Appoints Former BlackRock Executive as Co-CEO
SharpLink named Joseph Chalom, a former senior executive at BlackRock, as its new co-chief executive officer. The company stated Chalom will assume the role effective July 24, 2025, bringing over two decades of institutional finance experience. Rob Phythian will transition to president over the coming quarter and retain his board position.
NEW: Joseph Chalom, former Head of Digital Assets Strategy @BlackRock, joins SharpLink as Co-CEO
After two decades at BlackRock, where he helped launch IBIT ($87B+ AUM), ETHA ($10B+ AUM), and BUIDL (the first tokenized Treasury fund on Ethereum), @joechalom is now joining… pic.twitter.com/utOa76AhwE
— SharpLink (SBET) (@SharpLinkGaming) July 25, 2025
Chalom previously served as Managing Director and Head of Strategic Ecosystem Partnerships at BlackRock. He helped shape digital asset strategy and led key partnerships with top fintech and crypto firms. His background includes oversight roles in BlackRock Solutions and serving on the boards of Securitize and ClarityAI.
SharpLink emphasized that Chalom’s appointment aligns with its strategic pivot toward Ethereum-centric financial infrastructure. The company believes his leadership can accelerate Ethereum adoption within traditional capital markets. His entry marks a notable shift in SharpLink’s executive direction.
SharpLink Strengthens Ethereum Commitment
SharpLink reaffirmed its commitment to Ethereum as a core component of its treasury and long-term technology focus. The company is the largest public holder of Ether among corporates and uses it as its primary treasury reserve asset. This move sets it apart from competitors still holding traditional fiat-based assets.
Ethereum’s scalability and smart contract capabilities align with SharpLink’s product roadmap. The firm continues to build decentralized tools for gaming and sports media applications. Management views Ethereum’s ecosystem as foundational for future financial and digital experiences.
The leadership team aims to expand services in a way that integrates on-chain transparency and smart contract reliability. By using Ethereum, SharpLink intends to simplify operations while reducing intermediaries. It sees blockchain as a key enabler for secure, scalable platforms.
Market Response to Leadership and Strategy Shift
SBET shares saw sharp intraday volatility with early gains eroded by afternoon trading. The stock opened higher but declined steadily, likely reflecting mixed short-term sentiment. Trading volumes remained elevated throughout the session, highlighting market engagement.
Some attributed the morning spike to Chalom’s appointment and his association with Ethereum adoption at BlackRock. However, broader market conditions and profit-taking may have influenced the pullback. The afternoon flattening suggests a wait-and-see approach among market participants.
Analysts expect future performance to hinge on execution under Chalom’s leadership and Ethereum’s continued network growth. While the leadership transition marks a clear pivot, market participants may seek additional clarity on near-term results. The company remains positioned to capitalize on Ethereum’s evolving role in digital finance.
