Joe Lubin's Consensys sells $48M of SharpLink after 94% stock collapse
- —Consensys sold 5.7M SBET shares at $8.39, raising $48 million
- —SharpLink peaked at $124.12 in May 2025; it closed at $7.46
- —SharpLink posted a $735 million loss in 2025
- —MSCI added SharpLink to its removal watchlist, effective by November 2026
Why it matters: The exit by a major ETH treasury backer underscores the collapse of the crypto treasury company model and adds pressure on ETH-linked equity vehicles.
Source: Protos