Ethereum’s Strategic Leap: SharpLink Gaming’s Billion-Dollar Bet with Ex-BlackRock Lead at the Helm

In a bold move signaling its aggressive pivot into cryptocurrency treasury management, SharpLink Gaming (SBET), a Nasdaq-listed company now holding over $1.3 billion in Ethereum (ETH), has appointed Joseph Chalom as co-CEO. Chalom, a former BlackRock executive who spearheaded the asset manager's digital assets strategy—including the launch of its spot ETH ETF—brings unparalleled expertise to SharpLink. This strategic hire, under the chairmanship of Ethereum co-founder Joseph Lubin, underscores the firm's ambition to become a major player in crypto asset management. With its substantial ETH holdings and leadership team now bolstered by blockchain and traditional finance heavyweights, SharpLink is positioning itself at the forefront of institutional crypto adoption. The appointment not only validates Ethereum's growing role in corporate treasuries but also hints at potential upward momentum for ETH's market value as institutional strategies evolve. As of July 2025, this development marks a significant milestone in bridging traditional finance with decentralized ecosystems, potentially catalyzing further institutional interest in Ethereum-based financial products.

SharpLink Gaming Appoints Ex-BlackRock Digital Assets Lead Joseph Chalom as Co-CEO

SharpLink Gaming (SBET), a Nasdaq-listed firm now holding over $1.3 billion in ether, named Joseph Chalom as co-CEO. The former BlackRock executive led the asset manager's digital assets strategy, including its spot ETH ETF launch.

Chalom's appointment signals SharpLink's aggressive pivot to crypto treasury management under ethereum co-founder Joseph Lubin's chairmanship. The firm has emerged as one of the largest corporate ETH accumulators since its May strategy shift.

"Few executives have driven institutional crypto adoption like Joseph," said Lubin, referencing Chalom's work establishing BlackRock's blockchain initiatives and his board role at tokenization platform Securitize.

Current CEO Robert Pythian will transition to president while remaining on the board. SBET shares fell 3% Friday, extending a 30% weekly decline amid broader crypto market volatility.

WeWake Presale Launches Amid BlackRock's Ethereum Accumulation

The cryptocurrency market is witnessing a shift from speculative trading to practical utility, with WeWake Finance's presale marking a significant milestone. The project's Layer 2 blockchain eliminates traditional barriers like wallet management and gas fees, offering Web3 access through social logins. This approach targets mainstream adoption by simplifying interactions with NFTs, DeFi, and token swaps.

Institutional confidence grows as BlackRock substantially increases its Ethereum holdings, signaling long-term belief in ETH-powered infrastructure. The simultaneous emergence of user-friendly solutions like WeWake and institutional bets on core blockchain networks suggests a maturation phase for crypto adoption.

DOJ Expands Tornado Cash Probe to Dragonfly Executives in KYC Evasion Case

Federal prosecutors are considering new charges against executives at crypto venture firm Dragonfly as the Tornado Cash trial intensifies. The Department of Justice is scrutinizing internal communications between Dragonfly personnel and developers of the privacy-focused protocol, with a focus on early discussions about Know-Your-Customer compliance.

Emails presented as evidence reveal Dragonfly's financial backing of Tornado Cash during its formative stages. Assistant U.S. Attorney Rehn confirmed the potential for expanded charges in court, specifically mentioning Dragonfly General Partner Tom Schmidt before requesting portions of the proceeding be sealed.

The case highlights growing regulatory scrutiny of cryptocurrency privacy tools and their institutional connections. Market observers note the proceedings could establish important precedents for venture capital liability in decentralized finance projects.

SharpLink Gaming Stock Drops 5% Despite Ethereum-Focused Strategy and BlackRock Executive Appointment

SharpLink Gaming, Inc. (SBET) experienced a volatile trading session on July 25, 2025, with shares initially surging before reversing to close 5.87% lower at $21.95. The midday pullback occurred despite the company's announcement of a major leadership change and reinforced commitment to Ethereum-based initiatives.

Joseph Chalom, former Head of Digital Assets Strategy at BlackRock, was named co-CEO effective immediately. Chalom brings two decades of institutional finance experience, including key roles in launching BlackRock's IBIT ($87B AUM), ETHA ($10B AUM), and BUIDL - the first tokenized Treasury fund on Ethereum. His appointment signals SharpLink's strategic pivot toward Ethereum ecosystem development.

Market reaction appeared divided, with heavy trading volume reflecting both Optimism about Chalom's crypto credentials and concerns about execution risk. The stock's failure to maintain morning gains suggests investors may be taking a wait-and-see approach to SharpLink's Ethereum ambitions despite the high-profile hire.

Ethereum’s Meteoric Rise Sparks Institutional Interest

Ethereum has surged over 50% in the past month, with institutional demand driving its price upward. Bitwise’s Matt Hougan attributes this growth to the launch of Ethereum-based ETFs and corporate treasury acquisitions. Since mid-May, over $5 billion has flowed into spot Ethereum ETFs, while companies like Bitmine and SharpLink have publicly disclosed Ethereum-focused reserves.

Hougan notes that ETFs and corporate treasuries have purchased 2.83 million ETH since May 15, exceeding $10 billion at current prices. These purchases outpaced new supply by 32 times, creating a supply-demand imbalance that explains Ethereum’s price appreciation. The trend is expected to continue in the coming months.

SharpLink Gaming Appoints Crypto Veteran Joseph Chalom as CEO to Drive Ethereum-Centric Strategy

SharpLink Gaming, a Nasdaq-listed cryptocurrency asset treasury firm, has named Joseph Chalom as its new chief executive. The appointment signals a strategic push into Ethereum-based initiatives under leadership steeped in institutional crypto experience.

Chalom brings two decades of finance sector expertise, including pivotal roles in BlackRock's cryptocurrency market entry and the launch of its spot Ethereum ETF. His tenure at the asset management giant saw the development of multiple crypto projects and collaboration with Securitize on the largest tokenized U.S. Treasury fund.

'Few executives have shaped institutional crypto adoption like Joseph,' said SharpLink Chairman Joseph Lubin. The MOVE reinforces SharpLink's Ethereum focus at a time when traditional finance firms are accelerating blockchain integration.