SharpLink Becomes Largest Corporate Ethereum Holder

SharpLink Gaming acquired $225 million worth of Ethereum this month, increasing its total holdings to 280,706 ETH valued at $858 million. The acquisition makes SharpLink the world’s largest corporate Ethereum holder, surpassing the Ethereum Foundation's treasury.

SharpLink financed the purchases using proceeds from a $413 million at-the-market share sale program, with about $257 million still available for additional ETH acquisitions. Following the announcement, the company’s stock price rose 10%, continuing a rally that’s seen its valuation jump over 160% in the past month.

Since beginning its Ethereum treasury strategy in May, SharpLink has staked nearly all its ETH, earning 94 ETH in rewards last week alone. Ethereum co-founder Joe Lubin described institutional Ethereum buying like SharpLink’s as an “industrial shop vacuum” tightening market supply.

SharpLink joins firms such as BitMine Immersion and Bit Digital, building large ETH treasuries using the playbook popularized by Michael Saylor’s Bitcoin-focused Strategy. These companies anticipate to implement Ethereum into corporate finance as a major reserve asset.

DOJ and CFTC Drop Polymarket Investigation Clearing CEO

US authorities, including the DOJ and CFTC, ended their investigation into crypto betting platform Polymarket on July 15. CEO Shayne Coplan confirmed the resolution publicly, eight months after federal agents seized his devices. Polymarket faced scrutiny for allegedly allowing unauthorized United States users to wager on political outcomes like the 2024 presidential race.

Polymarket previously settled a case with the CFTC in 2022 over registration issues related to prediction markets. The Justice Department declined to comment on the reasons for ending its investigation, as reported by Bloomberg. Polymarket hosts betting markets on events ranging from politics to cryptocurrency price movements and sports competitions.

Trump Urges GOP Backing for Crypto Bills Vote

President Trump urged Republicans to support the stablecoin-focused GENIUS bill and the Digital Asset Market Clarity Act in Congress on July 15. Trump promoted both bills on Truth Social, saying they would secure America's global dominance in digital assets. The GENIUS Act would require stablecoins to be fully dollar-backed, mandating audits for issuers with large market caps.

The House vote this week will also consider blocking the Federal Reserve from issuing a central bank digital currency to individuals. Meanwhile, the Clarity Act clearly defines SEC and CFTC roles, strengthening market transparency for retail investors. Democratic critics argued both bills primarily benefit Trump’s personal crypto investments, including World Liberty Financial and TRUMP token.

Kraken Launches Regulated Crypto Derivatives in US

Crypto exchange Kraken launched its regulated derivatives trading platform, Kraken Derivatives US, on July 15. The new service combines CME-listed crypto futures with Kraken’s spot trading, initially available in five states including Vermont and Washington, D.C. Kraken previously acquired futures platform NinjaTrader for $1.5 billion, enabling this expansion.

The platform lets US customers trade futures contracts and manage collateral through Kraken’s existing Pro interface. Shannon Kurtas, Kraken’s head of exchange, stated the launch drastically boosts traders' capital efficiency. Kraken plans future expansions into commodities, foreign exchange, and equity derivatives markets later this year.

Data of the Day

Cryptocurrency trader James Wynn returned to leveraged trading on July 15, placing a $19.5 million Bitcoin long at 40x leverage. Wynn’s position, opened at $117,000 on Hyperliquid, risks liquidation if Bitcoin drops below $115,750, costing $1.4 million in funding fees so far. He also entered a smaller, $102,000 leveraged bet on the meme coin PEPE at 10x leverage.

Wynn previously suffered major losses, including a $25 million liquidation on a $100 million Bitcoin bet in June. He claimed market manipulation targeted his past positions, deliberately driving prices down. Wynn’s trades became popular among crypto traders despite frequently being liquidated during market volatility.

More Breaking News

• PumpFun’s PUMP token hit a $2 billion market cap following its $600 million ICO, but still trails Solana memecoin rival BONK.
• Jamie Dimon says JPMorgan will explore stablecoins like JPMD despite skepticism, launching pilots via Coinbase’s Layer 2 Base network.
• Solana’s tokenized asset market grew 140% in 2025, pushing it to fourth place behind Ethereum, ZKSync Era, and Aptos in the RWA race.
• Roman Storm’s criminal trial has begun in Manhattan federal court, where prosecutors allege Tornado Cash helped launder over $1 billion in crypto.
• Standard Chartered now offers Bitcoin and Ethereum trading to institutional clients through its traditional FX systems used for fiat currencies.
• A long-dormant Bitcoin whale moved 40,000 BTC to Galaxy Digital, with analysts suggesting the funds are being prepared for OTC sale.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.