Shares of SharpLink Gaming Inc. plunged 69% on Friday following the registration of shares for a group of investors, a move the company’s chairman defended as standard procedure.
The firm, which is becoming an Ether treasury company, announced a $425 million private investment in public equity last month that would see investors led by Consensys Software Inc. buying 69.1 million shares of SharpLink or their equivalent, according to a statement at the time.