Ethereum
SharpLink Gaming allocates $200M in ETH to Lido staking strategy
Gaming company SharpLink is deploying $200 million in Ethereum through Lido to generate staking returns while preserving DeFi access.
SharpLink Gaming plans to allocate $200 million worth of Ethereum to Lido, converting the holdings into wrapped staked ETH (wstETH) held under custody with Anchorage Digital. The move forms part of the company's strategy to increase productivity from its ETH treasury rather than keeping assets idle.
Unlike directly staked Ethereum, wstETH can be transferred, traded or deployed across decentralized finance applications while continuing to generate staking rewards from the network's proof-of-stake system. This structure allows SharpLink to earn a base staking yield while retaining flexibility to use the assets across other protocols.
SharpLink CEO Joseph Chalom characterised the allocation as an expansion of the company's approach to making its ETH holdings more productive. Anchorage Digital's role as institutional custodian addresses operational, cybersecurity and governance requirements typical for corporate crypto treasuries.
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