SharpLink, a Nasdaq-listed company trading under ticker SBET, is staking 200 million dollars worth of Ethereum through Lido, the largest liquid staking protocol in the crypto space. The company will receive wstETH tokens in return, held in custody by Anchorage Digital Bank, a federally chartered digital asset bank. Lido currently manages roughly 16.5 billion dollars in staked ETH, and wstETH is used as collateral across more than 100 DeFi protocols. This arrangement allows SharpLink to generate yield on its Ethereum treasury while avoiding full asset lockup and maintaining liquidity to redeploy the funds elsewhere in DeFi.
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