Latest news with #Lubin
Yahoo
2 days ago
- Business
- Yahoo
Ethereum Just Got Its Michael Saylor -- And Wall Street Is Paying Attention
Shares of SharpLink (NASDAQ:SBET) have surged nearly 1,000% after announcing plans to become an Ether treasury company, echoing the playbook that turned Strategy (NASDAQ:MSTR) into a crypto market darling. The firm raised $425 million in a private placement to accumulate Ether, with Ethereum co-founder Joe Lubin stepping in as chairman. The deal was led by Consensys, Lubin's software infrastructure company, and has investors asking if this could be the beginning of a broader Ether-driven capital markets trend. Warning! GuruFocus has detected 8 Warning Signs with SBET. Lubin's conviction appears to have been shaped by a conversation with Bitcoin (BTC-USD) bull Michael Saylor six months ago. While Saylor turned Bitcoin into digital gold for balance sheets, Lubin sees untapped potential in Etherespecially as staking introduces a yield component. We'll take in more capital to buy Ether, Lubin noted, citing the possibility of share or bond issuance, but emphasized a cautious approach. Unlike earlier cycles fueled by hype, Lubin insists the focus is long-term ecosystem value, not speculation. With Bitcoin up roughly 11% year-to-date and Ether still down around 26%, some investors are beginning to reconsider the relative value of Ethereum's platform. Lubin believes Ether could play a central role in a more decentralized global economyand he's not alone. Other companies are reportedly exploring similar strategies. If this momentum builds, Ether might not just power decentralized apps but start showing up on more corporate balance sheets, much like Bitcoin did in 2020. This article first appeared on GuruFocus.
Miami Herald
2 days ago
- Sport
- Miami Herald
F Ven-Allen Lubin transfers to NC State, his fourth school
Ex-North Carolina forward Ven-Allen Lubin is heading a half-hour or so southeast on Interstate 40, committing Sunday to play at Atlantic Coast Conference rival North Carolina State in the 2025-26 season. He made the announcement via a social media post. Wearing a Wolfpack uniform, Lubin simply wrote "Committed." Lubin entered the transfer portal on April 21 after spending one season with the Tar Heels. He appeared in 37 games (20 starts) and averaged 8.7 points, 5.5 rebounds in the 2024-25 campaign. Prior to North Carolina, the Florida native played single seasons at Notre Dame and Vanderbilt. Lubin has career averages of 9.0 points and 5.4 rebounds in 91 games (53 starts). He is a career 61.6 percent shooter from 2-point range. He averaged 12.3 points and 6.3 rebounds in 26 games for Vanderbilt in the 2023-24 season. Lubin, 6-foot-8 and 230 pounds, is a two-time selection to the All-ACC Tournament team. Now 21, Lubin was ranked by 247Sports as a four-star prospect in the Class of 2022. NC State has rebuilt its roster following the hiring of former Chattanooga, VCU, LSU and Mcneese State head coach Will Wade. The team has eight incoming transfers, including recent high-profile addition Darrion Williams, formerly of Texas Tech. --Field Level Media Field Level Media 2023 - All Rights Reserved
Yahoo
2 days ago
- Business
- Yahoo
Ethereum Co-Founder Credits Michael Saylor for Crypto Treasury Firm Nudge
(Bloomberg) -- Long-time crypto advocate and Ethereum co-founder Joe Lubin says he was swayed into launching a firm to invest in the network's native currency about six-months ago by the best-known advocate of stockpiling digital tokens. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months 'I was at a dinner with Michael Saylor, I did a little bit of research, I started talking to my colleagues about how cool it could be,' Lubin, the founder and chief executive officer of Ethereum software infrastructure provider Consensys, said in an interview. 'Nobody in our company had done a deep dive on it. We saw, hey we don't see anything overly dangerous in the strategy.' The eye-popping returns the software firm formally known as MicroStrategy has registered since Saylor decided in 2020 to turn the company into a leveraged Bitcoin proxy have captivated both Wall Street and individual investors. The outsized premium shares of the now-named Strategy command over the value of its Bitcoin holdings has spurred a surge in so-called crypto treasury companies seeking to emulate Saylor's success. Last week, the sports betting and gaming technology firm SharpLink Gaming Inc. said it would become a Ether treasury company, with Lubin serving as chairman of the board. SharpLink has closed a $425 million private placement to purchase Ether for its treasury. The fund raise was led by New York-based Consensys. Share of SharpLink surged about 400% following the May 27 the announcement, and ended last week up around 1,000%. The stock had tumbled more than 50% annually in the last three years. Lubin expects to raise additional capital to fund purchases of Ether, which is the second-largest cryptocurrency by market value after Bitcoin. 'There will be ways for us to take in more capital for us to buy more Ether,' Lubin said, citing Saylor's strategy of issuing shares and convertible bonds. 'We'll do that in a prudent way, we'll not take excessive risk.' The key is not to become over-leveraged, Lubin said. 'We anticipate that our actions and similar actions will drive a huge amount of demand for Ether,' said Lubin, who said other firms are looking at Ether treasury strategies as well. While Saylor has been promoting Bitcoin as digital gold, the marketing message behind Ethereum — crypto's commercial highway, with thousands of gaming and lending apps — has been more garbled. Some investors shifted to only investing in Bitcoin, which has gained about 11% so far this year. Ether is down about 26%, even after a rally following its latest software upgrade. Lubin believes Ether deserves better. 'Essentially there's a paradigm shift on, to a more decentralized global economy,' Lubin said. 'It shouldn't be hard to believe that Ether will be a big part of that paradigm shift.' Lubin downplayed concern that the crypto treasury strategy is just the latest ploy to make a quick buck in crypto, similar to the pump-and-dump schemes that have plagued the sector since its early days more than a decade ago. 'I've never been looking to exit anything in the Ethereum ecosystem, we are builders, not exploiters,' Lubin said. 'We expect there will be years, possibly decades of growth in our ecosystem. We expect Ether growing enormously valuable.' Treasury companies holding Ether will be able to stake it — basically, use the coins to secure the Ethereum network and earn yield. 'We anticipate that there will be a number of vehicles like this that are well intentioned,' Lubin said. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
SharpLink Gaming Soars 400% as Joseph Lubin's Consensys Leads $425M Funding for ETH Treasury Strategy
Shares of sports marketing company SharpLink (SBET) rose 412% on Tuesday after it announced plans to create an Ethereum ETH treasury reserve strategy with involvement from the blockchain's own co-founder, Joseph Lubin. The Minneapolis-based firm, founded in 1995, is currently trading at $34.45, up from $7 Friday, with a market cap now of $23 million. The company is raising roughly $425 million though a private investment in public equity (PIPE) offering. The proceeds will be used to buy ether, which will then serve as the primary treasury reserve asset. Ethereum software developer Consensys, which was also co-founded by Lubin, was the lead investor with further participation by Pantera Capital, Galaxy Digital, and Ondo, among smaller names. The offering is expected to close on May 29th, according to the release. Lubin will become chairman of the board of directors upon the closing. SharpLink joins an increasing number of microcap companies trying to mimic the success of Strategy (MSTR), the first company to adopt a bitcoin BTC treasury strategy, resulting in an over 3,000% increase of its share price over the past five years. Along those lines, Trump Media & Technology Group (DJT) Tuesday morning announced a $2.5 billion capital raise to begin a bitcoin treasury in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
23-05-2025
- Sport
- USA Today
UNC basketball center projected to land with in-state rival
UNC basketball center projected to land with in-state rival The college basketball offseason rolls on, and players are still making their decisions as teams are trying to finalize their roster. For North Carolina, they lost some talent but also are welcoming in a good transfer portal class. However, they could see one of their former players at least twice this upcoming season. Center Ven-Allen Lubin made a surprising decision to enter the transfer portal almost at the last minute saying he has intentions on returning to North Carolina. But it appears as if that ship has sailed and now he could be joining an in-state program. NC State has picked up a crystal ball prediction for Lubin on Friday, coming from NC State reporter Cory Smith from Pack Pride. The prediction came in on Friday morning and it isn't the first time that the Wolfpack have been connected to Lubin. The 6-foot-8, 230-pound Lubin developed into UNC's starter at center as the season went on and finished the 2024-25 campaign averaging 8.7 points and 5.5 rebounds per game. He appeared in 37 games and started 20 for the Tar Heels. Lubin had a strong finish to the regular season, scoring in double-digit points in his last 11 games. He's ranked No. 144 overall as a transfer portal player by 247Sports. Follow us @TarHeelsWire on X and like our page on Facebook to follow ongoing coverage of North Carolina Tar Heels news, notes and opinions.
