SharpLink Gaming's stock fell nearly 15% after the company reported a net loss of $103 million for the second quarter, contrasting sharply with a net income of nearly $12 million during the same quarter last year. Revenue also dropped by 30% to $1.4 million, leading to a gross profit of $0.3 million, reflecting a 50% decrease compared to the previous year. The significant losses were attributed to an $87.8 million non-cash impairment on LSE holdings and $16.4 million related to stock-based compensation linked to their advisory agreement with Consensys. SharpLink executives clarified that the impairment was a non-cash loss due to accounting practices. Concurrently, Ethereum's price dipped below $4,400 after reaching over $4,800, amid geopolitical uncertainties. As of the report, SharpLink holds 728,804 ETH, worth approximately $3.23 billion, but the recent market volatility has raised concerns regarding their treasury strategy.

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