From market darling to panic sell-off, SharpLink Gaming’s (NASDAQ: SBET) recent crash reveals deeper tensions in crypto-linked equities.The Sharp Rise and Sudden FallSharpLink Gaming, dubbed the "Ethereum version of MicroStrategy," saw its stock soar 40x after a $425 million PIPE (Private Investment in Public Equity) financing round in May 2025. The funds were earmarked for Ethereum acquisitions, mirroring MicroStrategy’s Bitcoin treasury strategy. However, on July 13, 2025, SharpLink filed a...

From market darling to panic sell-off, SharpLink Gaming’s (NASDAQ: SBET) recent crash reveals deeper tensions in crypto-linked equities.The Sharp Rise and Sudden FallSharpLink Gaming, dubbed the "Ethereum version of MicroStrategy," saw its stock soar 40x after a $425 million PIPE (Private Investment in Public Equity) financing round in May 2025. The funds were earmarked for Ethereum acquisitions, mirroring MicroStrategy’s Bitcoin treasury strategy. However, on July 13, 2025, SharpLink filed a...