Todayq, reported on May 31, 2025, that Sharplink Gaming has filed with the Securities and Exchange Commission of the United States to offer $1 billion in shares of common stock to boost its Ether treasury.
However, after the company filed with the SEC, its stock saw a steep decline, and according to data, Sharplink Gaming stock tumbled around 73% in after-hours trading last Thursday.
According to data from TradingView, NASDAQ: SBET is trading at $32.53, with a loss of 12.25% in the last closing session and 27.70% over the past week.
In an X post dated June 13, 2025, Joseph Lubin said, “ Some are misinterpreting SBET’s S-3 filing: It registers shares for potential resale by prior investors.”
The post adds, “ The ‘Shares Owned After the Offering’ column is hypothetical, assuming full sale of registered shares.”
He concluded by saying, “ To clarify, neither Consensys nor I have sold any shares,” “Btw the ticker is $SBET.”
Despite daily and weekly losses, Sharplink Gaming Inc. stock remained profitable, adding 868.15% in a month and growing 302.60% YTD.
Matt Corva said in an X post dated 13 June, “ If you think the SBET resale registration statement is anything unique, it is a basic SEC resale registration filing. Akin to if you bought a token, and immediately there was a filing that said “John is able to sell this token.” Just a bunch of FUD by people who clearly don’t understand or want to purposely mislead you.”
Is the SBET token linked to Sharplink Gaming Inc?
Joseph Lubin, the co-founder of Ethereum, founder of Consensys, and the Chairman of Sharplink Gaming, said in his X post of June 11, 2025, that, “ This SBET token is a pure scam. It has nothing to do with SharpLink Gaming Inc. (SBET is the ticker). The real SBET is currently a stock on the NASDAQ. If you buy into this, you are being set up for a rug pull slaughter.”
As per the data from Dexscreenee(dot)com, SBET/WETH is priced at $0.0005626 and has a market capitalization of $5.6 million; the price of the token is up by 9.94% in the past one hour and has a volume of $4.8 million.
According to CoinMarketCap, the SBET token that is claimed to be linked with Sharplink Gaming has a maximum supply of 10 billion SBET, and on June 11, 2025, it recorded its highest trading price of $0.0001342. The pair SBET/WETH is one of the most traded on Uniswap v2, SBET/USDT on LBank, and the same pair on Ourbit.
It is noteworthy that the SBET token was first tracked trading and since then, to date, its price is up by 93322.69%.
