SharpLink Gaming stock fell nearly 15% after reporting a $103 million net loss for Q2, contrasting with nearly $12 million net income from the previous year. The company, which pivoted to an Ethereum-based strategy, faced a revenue decrease of 30% year-over-year, bringing in only $1.4 million during the quarter. Additionally, it reported a significant non-cash impairment loss of $87.8 million related to its tokenized ETH holdings. Concerns over Ethereum's price vulnerability, as it dipped below $4,400, were compounded by broader geopolitical issues affecting market sentiment. The firm's poor earnings report is its first since the strategic shift in May, raising worries among investors about its outlook amidst a volatile cryptocurrency landscape.

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