Ethereum Co-Founder Joseph Lubin Clarifies S-3 Filing Misinterpretations

Joseph Lubin, co-founder of Ethereum, has issued an important clarification regarding widespread misunderstandings about SharpLink Gaming's S-3 filing documentation. According to market reports, Lubin addressed confusion surrounding the "shares owned after offering" section in the filing.

Lubin explained that this section represents a hypothetical scenario that assumes all registered shares are sold—a standard regulatory disclosure requirement following a Private Investment in Public Equity (PIPE) transaction in traditional finance. PIPE transactions involve the selling of publicly tradable securities to private investors, typically at a discount to the current market price, and require specific SEC filings to disclose potential ownership changes.

The Ethereum co-founder emphasized that neither he nor Consensys, the blockchain technology company he founded, has sold any shares in SharpLink Gaming. This clarification helps maintain transparency in the increasingly regulated intersection between traditional securities and blockchain enterprises, where misinterpretations of regulatory filings can potentially impact market sentiment and investor confidence.

This article was originally published on June 13.