Ethereum Maxi Move: Ex-BlackRock Crypto Chief Joins SharpLink Gaming as Co-CEO, Betting Big on ETH
- Who Is Joseph Chalom and Why Does His Move Matter?
- SharpLink’s $1.3 Billion Ethereum Bet: Strategy or FOMO?
- Why Ethereum Over Bitcoin for Corporate Treasuries?
- The Lubin Connection: Ethereum’s Silent Power Play
- TradFi Meets Web3: A Blueprint for Others?
- FAQs: Your Burning Questions Answered
In a seismic shift for crypto adoption, Joseph Chalom—former head of BlackRock’s digital assets division—has joined SharpLink Gaming as Co-CEO alongside ethereum co-founder Joseph Lubin. The move signals SharpLink’s aggressive pivot toward Ethereum-centric strategies, including DeFi, tokenization, and Web3. Since May 2025, the company has converted over $1.3 billion into ETH, positioning itself as a major crypto treasury. This hire bridges TradFi and crypto, with Ethereum emerging as a strategic reserve asset. Here’s why it matters.
Who Is Joseph Chalom and Why Does His Move Matter?
Joseph Chalom isn’t just another Wall Street defector. As the architect behind BlackRock’s landmark crypto products—including IBIT (the world’s largest Bitcoin ETP) and ETHA (its Ethereum counterpart)—his resume reads like a crypto institutionalization playbook. After 20 years at the $10 trillion asset manager, his jump to SharpLink Gaming isn’t just a career change; it’s a statement. "This is about building the treasury infrastructure of the future," Chalom tweeted on July 25, 2025. His track record suggests he means business.
SharpLink’s $1.3 Billion Ethereum Bet: Strategy or FOMO?
Since May 2025, SharpLink has quietly amassed over 1.3 billion USD worth of ETH—enough to make it a top-10 corporate ETH holder globally, per CoinMarketCap data. But this isn’t speculative hoarding. The firm’s "Ethereum-first" roadmap targets three pillars:
- DeFi Integration: Leveraging ETH as collateral for yield strategies
- Tokenization: Mirroring Chalom’s work at Securitize, where he helped tokenize the world’s largest bond fund
- Web3 Infrastructure: Building tools for decentralized identity and governance
Why Ethereum Over Bitcoin for Corporate Treasuries?
While Tesla and MicroStrategy made headlines with bitcoin buys, SharpLink’s ETH-heavy approach reflects a deeper calculus. "Ethereum’s utility as programmable money is unmatched," notes BTCC analyst Mark Chen. "For enterprises eyeing tokenized assets or smart contracts, ETH isn’t just a store of value—it’s operational fuel." The numbers back this: Ethereum’s L2 networks now process 3x Visa’s daily transaction volume, per TradingView.
The Lubin Connection: Ethereum’s Silent Power Play
SharpLink’s other Co-CEO, Joseph Lubin, is no bystander. As Ethereum’s co-founder and ConsenSys’ founder, his involvement telegraphs SharpLink’s ambitions. "This is about aligning with the ecosystem’s builders," Lubin stated in a recent Decrypt interview. The subtext? SharpLink could become a liquidity hub for Ethereum’s burgeoning tokenized economy—think private equity meets DeFi.
TradFi Meets Web3: A Blueprint for Others?
Chalom’s hire isn’t just about SharpLink. It’s a template for legacy finance firms eyeing crypto:
- Step 1: Recruit TradFi veterans with crypto credibility (like Chalom)
- Step 2: Allocate treasury reserves to ETH, not just BTC
- Step 3: Build bridges between regulated finance and decentralized protocols
FAQs: Your Burning Questions Answered
Why did Joseph Chalom leave BlackRock for SharpLink?
Chalom cited the "generational opportunity" to reshape corporate treasuries using Ethereum’s tech stack, calling it "the next chapter of finance."
How does SharpLink’s ETH strategy differ from MicroStrategy’s Bitcoin approach?
While MicroStrategy treats BTC as digital gold, SharpLink uses ETH as productive capital—staking, lending, and deploying it in DeFi.
What risks does SharpLink face holding $1.3B in ETH?
Volatility remains a concern, though ETH’s correlation with traditional markets has dropped to 0.2 since 2023 (TradingView data).
