SharpLink Gaming stock fell nearly 15% following the announcement of a $103 million net loss for Q2, contrasting sharply with a $12 million net income during the same period last year. Revenue declined by 30% to $1.4 million, and gross profit dropped 50% from the previous year. The losses were largely attributed to a non-cash impairment loss of $87.8 million related to its LSE holdings and $16.4 million in stock-based compensation linked to its advisory agreement with Consensys. The stock’s decline coincided with a drop in Ethereum's price, falling below $4,400, heavily impacted by geopolitical uncertainties and disappointing economic data. SharpLink currently holds over 728,000 ETH, estimated to be worth around $3.23 billion. The pivot towards Ethereum appears to be struggling, as the company grapples with losses amidst an increasingly volatile crypto market.

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