SharpLink Gaming's stock fell nearly 15% after reporting a net loss of $103 million for Q2 2025, contrasting sharply with a net income of $12 million in the same quarter of 2024. The company's revenue also dropped 30% to $1.4 million, with a gross profit of just $0.3 million, a 50% decrease from the previous year. This downturn coincides with Ethereum's price falling below $4,400 after reaching over $4,800, amid geopolitical uncertainties and U.S. economic data. CEO Robert DeLucia clarified that a significant portion of the loss was due to an $87.8 million non-cash impairment related to its tokenized Ethereum holdings and $16.4 million in stock-based compensation linked to advisory services from Consensys. SharpLink currently holds 728,804 ETH, valued at approximately $3.23 billion yet is facing headwinds as the market reacts to earnings and overall economic indicators.

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