Joseph Chalom Jumps Ship from BlackRock to Sharplink Gaming as Co-CEO: A Bold Move for Ethereum’s Future
- Who Is Joseph Chalom and Why Does His Move Matter?
- Sharplink’s ETH Treasury: A Sleeping Giant Awakens
- The Leadership Reshuffle: What Changes at Sharplink?
- Tokenized Stocks and Market Reactions
- FAQs: Your Burning Questions Answered
In a surprising career shift, Joseph Chalom—former head of digital assets at BlackRock—has joined Sharplink Gaming as co-CEO. Known as an ethereum maximalist, Chalom brings two decades of Wall Street credibility and crypto innovation to the gaming giant, which now holds the second-largest ETH treasury. This move signals Sharplink’s aggressive push to bridge traditional finance and decentralized ecosystems. Below, we unpack the implications, the players, and why this might be Ethereum’s biggest corporate endorsement yet.
Who Is Joseph Chalom and Why Does His Move Matter?
Joseph Chalom isn’t just another exec switching jobs—he’s the architect behind BlackRock’s crypto pivot. Over 20 years, he spearheaded landmark products like the IBIT Bitcoin ETF and Ethereum ETP, effectively forcing Wall Street to take crypto seriously. His departure to Sharplink Gaming isn’t just a career change; it’s a statement. As he tweeted on July 25, 2025:That “why” involves leveraging Sharplink’s 360,809 ETH treasury (worth ~$9.5B at current prices) to push Ethereum into global finance’s core.
Sharplink’s ETH Treasury: A Sleeping Giant Awakens
With 360,809 ETH, Sharplink’s treasury trails only Ethereum Foundation’s war chest. But here’s the kicker: unlike ICO projects that dump ETH for operational costs, Sharplink stakes most of its holdings, generating passive income via liquid staking tokens like LsETH. Only 52.56 ETH sits idle in their wallet—a deliberate strategy to avoid market dilution. Their goal? To amass 1M ETH, dwarfing even Ethereum’s own reserves. This isn’t just hodling; it’s financial engineering on a blockchain scale.
The Leadership Reshuffle: What Changes at Sharplink?
Chalom’s arrival shifts existing leadership dynamics. Co-founder Robert Phythian transitions to an advisory role, freeing Chalom to execute his Ethereum-centric vision. Industry heavyweights are buzzing: Joseph Lubin (Ethereum co-founder) called Chalom’s moveMeanwhile, Sharplink’s recent OTC purchase of 10,000 ETH from an undisclosed foundation hints at deeper liquidity plays ahead.
Tokenized Stocks and Market Reactions
Sharplink’s native token SBET (tokenized on Injective as INJ-SBET) reflects the market’s cautious optimism. Trading at $22—down from its July peak of $37.36—it mirrors crypto’s broader volatility. Yet the firm’s NASDAQ-listed shares (SLGN) remain a bellwether for institutional crypto-gaming bets. As Chalom told:
FAQs: Your Burning Questions Answered
Why did Joseph Chalom leave BlackRock?
Chalom sought to accelerate Ethereum’s institutional adoption beyond ETFs. At Sharplink, he gains direct control over a massive ETH treasury and gaming infrastructure ripe for DeFi integration.
How does Sharplink’s ETH treasury compare to others?
It’s second only to Ethereum Foundation’s holdings. Notably, Sharplink stakes ~99.9% of its ETH, unlike many ICO projects that liquidate holdings.
What’s next for SBET’s price?
This article does not constitute investment advice. However, SBET’s utility will expand as Sharplink rolls out ETH-backed financial products in Q3 2025 (per their roadmap).
