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Sharplink Posts $686M Q1 Loss, Plans $125M Fund With Galaxy From ETH Treasury
Sharplink reported a Q1 net loss of nearly $686 million. The firm said about $507 million came from unrealized losses on its ETH treasury, while Q1 revenue rose to more than $12 million from less than $1 million in the same period last year. Sharplink also plans a $125 million on-chain yield fund with Galaxy, seeded with $100 million from Sharplink’s staked ETH and $25 million from Galaxy.