DeFi – BitcoinCasinos.us

SharpLink Gaming Makes Headlines with $425M Ethereum Move

Posted on May 28, 2025 by Laura P.

SharpLink Gaming, a leading digital marketing firm in the U.S. sports betting industry, announced a major shift in strategy by raising $425 million through a private equity deal. The company revealed that it will now hold Ethereum (ETH) as its primary treasury reserve asset.

Headquartered in Minneapolis, Minnesota, SharpLink is recognized for its affiliate network, PAS.net, which connects users to regulated online sportsbooks and casinos in the U.S. Through its portfolio of state-specific domains, SharpLink specializes in performance-based marketing for the expanding U.S. gambling market.

Now, SharpLink is making a significant entry into the world of blockchain finance, becoming the first company listed on Nasdaq to undertake such a move. The recent capital raise was made possible through a Private Investment in Public Equity (PIPE) deal, spearheaded by ConsenSys Software Inc., the Ethereum-focused company founded by Joseph Lubin, who is also a co-founder of Ethereum. Following the completion of the deal, Lubin anticipates becoming Chairman of SharpLink’s Board of Directors.

This investment round also includes support from notable cryptocurrency investment firms such as ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, and Galaxy Digital, which reinforces the company’s credibility within both the crypto and gambling tech sectors.

Rapid Gains for the Market

Following the announcement, the prices of Ethereum rose by approximately 3%, according to the BNC Ethereum Liquid Index, climbing from around $2,570 to nearly $2,647. However, the most dramatic movement was observed in SharpLink’s stock, which surged by over 400% in a single trading session, rising from under $7 to roughly $33.50.

SharpLink’s choice to utilize Ethereum as its treasury reserve asset stems from the network’s increasing institutional backing and practical applications. Ethereum offers robust liquidity, a mature blockchain ecosystem, and a wide range of applications in decentralized finance (DeFi), blockchain gaming, NFTs, and smart contracts.

These capabilities align with SharpLink’s digital-first business model and pave the way for future innovations, such as integration with decentralized apps (dApps), Web3 user experiences, and blockchain-driven loyalty or rewards systems specifically designed for U.S. gamblers.

Good News for the U.S. Online Gambling Industry?

SharpLink’s shift may signify a crucial turning point for online gambling companies operating in the U.S. By adopting Ethereum as a treasury asset, SharpLink is bridging the gap between traditional iGaming business models and decentralized finance. This move could encourage more operators and affiliates to explore crypto integration, whether through digital asset reserves, blockchain-based rewards programs, or NFT-driven user engagement strategies.

As more U.S. states continue to legalize and regulate sports betting and online casino games, companies that embrace both regulatory compliance and technological innovation will be best positioned to lead. SharpLink’s Ethereum strategy may serve as a model for how gambling businesses can future-proof their operations in a digital-first economy.

Ohio Makes Significant Regulatory Move That Could Impact Crypto Betting

Posted on April 3, 2025 by Laura P.

Ohio has recently sent a strong signal to the crypto gambling world, issuing cease-and-desist orders to Kalshi, Robinhood, and Crypto.com for allegedly offering unlicensed sports betting. According to the Ohio Casino Control Commission (OCCC), the event contracts from these operators are essentially sports wagers, which require licensing under state law.

The developing DeFi betting sector, including platforms that use blockchain technology to provide decentralized betting products, will want to take note of the OCCC’s judgment as a warning. It is very evident from Ohio’s position that crypto gaming sites might soon have to adhere to the same regulatory standards as regular sportsbooks.

According to OCCC Executive Director Matthew Schuler, buying contracts to predict the results of sporting events is the same as making a regular wager at a sportsbook. The distinction, however, is that these platforms do not comply with Ohio’s legislative criteria for consumer protection, such as accessibility to underage users.

Should We Expect a Fight?

Traditional state-regulated sectors and decentralized finance (DeFi) systems are becoming more and more at odds, and this regulatory action may point to a battle. This may already have started.

While Kalshi has already faced similar actions from Nevada and New Jersey, Ohio’s involvement marks a new and significant turn. Not only is Kalshi’s struggle against state authorities important for the platform, but it is also substantial for the broader cryptocurrency gaming market.

The platform’s leadership has maintained that state gaming authorities do not have authority over its event contracts, but rather the federal agency in charge of financial products, the Commodity Futures Trading Commission (CFTC). It is key for the business that financial goods remain differentiated from gambling.

Should Kalshi emerge victorious, it may clear the way for cryptocurrency platforms to keep providing event contracts, evading the requirements of specific state gaming laws. But if the courts agree with Ohio and other state regulators, platforms that combine crypto with betting will be subject to more scrutiny. This might lead them to restructure their operations to comply with local regulations or rethink their business models to avoid being classified as traditional sports betting.

Broader Implications

The outcome of these discussions will determine the long-term viability of DeFi betting in Ohio. Insiders and crypto fans alike can see that these regulatory steps will have far-reaching consequences. The industry’s response is already quite mixed especially with traditional gambling platforms eyeing the lucrative crypto sector. For now, we will need to wait out the legal battle.

DefiXBet Launches World’s First DeFi Casino Platform

Posted on October 2, 2021September 30, 2021 by Martin S.

The future of P2P gaming platforms is looking very bright thanks to all the amazing innovations that are coming to the space. One of the most recent developments in this regard is from DefiXBet which has announced its very first decentralized casino that has integrated Decentralized Finance (DeFi) features. In addition to being an amazing offering with P2P functionality, the site claims to deliver the cleanest, transparent, secure and anonymous betting experiences in the industry.

Many crypto gamblers will be aware of centralized casinos and all the challenges that they are associated with. Many gaming operators have been trying to solve this problem. Some of the solutions including DefiXBet’s are very impressive. Instead of relying on gaming scripts that are easy to manipulate, the platform uses smart contracts. This contributes to the transparency and trustworthiness that the platform boasts of.

To further affirm its commitment to trustworthiness, the platform also supports decentralized betting. Through its “Custom Decentralized Bet” or CDB, the leaders of the site will have access to real-world and real-time data like API. This goes a long way in increasing user trust on the platform.

Opportunities For Players to Share Profit

Now, gambling can be fun but as always, winning is not guaranteed regardless of the game that you are playing. This is not really a problem as it is the very nature of all games of chance. However, DeFiXBet seems to found a way of letting the customers share a piece of the casino’s profit even if they lose at the gaming tables.

One of the features that make DefiXBet so attractive is its utilization of the DeFiProtocol to share casino profits with holders of its DXB token. That profit is distributed in such a manner that 40 percent goes to the stakeholders of the DeFi platform while another 40 percent goes to the DeFi platform itself. The remaining 20 percent is then channeled towards token buy-back and half of this will get burned.

“The DXB token value is designed to grow rapidly by scaling the platform while token holders can gain passive income by staking DXB or by creating their own casino games as a 3rd party developer,” one of DXB’s developers elaborates.

The inclusion of 3rd party games is a particularly exciting concept. This will not only mean more games for users but also presents an opportunity for more revenue generation from the additional profits gotten from the third parties.

BitcoinCasinos.us

Tag: DeFi